AltRaise acts as sole Financial Advisor to Baobab+ on its €10 million equity raising with Norfund



  • Launched in 2015 and operating in six African countries, Baobab+ supports households and micro-entrepreneurs in their energy autonomy through the distribution of solar kits, with 220,000 households already equipped (1.2 million beneficiaries), particularly in rural areas
  • Baobab+ also offers digital devices for educational and professional purposes, with more than 90,000 households (300,000 beneficiaries) already equipped
  • Boabab+ is the subsidiary of Baobab Group, a leading microfinance company (for microenterprises and SMEs) in Africa and China with over 4,000 employees and 1 million SME clients in 10 different countries


  • AltRaise acted as sole Financial Advisor to Boabab+ on the transaction
  • AltRaise prepared and led a competitive process involving international Impact investors, Venture Capital funds and Development Financial Institutions
  • Norfund is a leading investor in clean energy in developing markets and will further support the Company in its African scale-up
  • This transaction further establishes AltRaise as a leading financial advisor to the energy access sector and our continued commitment to enabling impact at scale