Information on the Target

OMOA Group, established in 1999, is the premier integrated service provider catering to the payments industry within West and Central Francophone Africa. The company specializes in a wide array of services that encompass the entire payment value chain, which includes ATM installation, maintenance, software solutions, and card personalization. With a workforce of 150 employees, OMOA operates across 11 countries, serving a diverse clientele that includes banks and microfinance institutions.

Since being acquired by Adenia Partners in 2012 as part of its Adenia Capital (III) fund, OMOA has undergone significant transformation. Adenia has introduced numerous strategic initiatives aimed at enhancing OMOA's service offerings and operational capabilities. These improvements have positioned OMOA as a trusted partner in the digital payment sector, further solidifying its reputation beyond mere ATM distribution.

Industry Overview in Côte d'Ivoire

The payments industry in Côte d'Ivoire is experiencing rapid growth, driven by the increasing demand for digital transactions and enhanced financial inclusion. As more consumers gain access to electronic banking services, the sector is witnessing an influx of technology-driven solutions designed to simplify the payments process. This shift presents immense opportunities for companies that can integrate digital services into their offerings.

Moreover, the Ivorian government has prioritized the digitization of financial services as part of its broader economic strategy. Initiatives aimed at modernizing the payment landscape include investments in fintech innovations and the establishment of regulatory frameworks that support secure digital transactions. Such developments set a conducive environment for companies like OMOA to thrive.

Furthermore, the rising mobile phone penetration in Côte d'Ivoire serves as a catalyst for digital payment solutions. With increased connectivity, consumers are more inclined to embrace mobile payment options and electronic banking services. This trend is expected to sustain growth in the payment sector as more businesses adopt tailored solutions to meet changing consumer demands.

In addition, the collaborative efforts between banks, fintech firms, and telecommunications providers are vital in enhancing the overall payment infrastructure. These partnerships are crucial for the rollout of innovative payment solutions that align with the evolving market landscape and consumer preferences.

The Rationale Behind the Deal

Adenia's decision to sell its complete stake in OMOA Group to SPE Capital stems from a well-executed value creation strategy that has significantly repositioned the company within its industry. Over the years, Adenia has focused on enhancing OMOA's capabilities to provide a broader range of digital payment services, which aligns with the rapidly changing landscape of the payments industry in Africa.

The deal also marks a successful exit for Adenia's third fund, Adenia Capital (III), showcasing its commitment to generating robust returns for investors while supporting the growth of an essential service provider in a vital industry.

Information About the Investor

SPE Capital, founded in 2016, is a private equity firm specializing in investment opportunities within Africa and the Middle East. The firm boasts a team of seasoned professionals equipped with extensive local market knowledge, which enables them to identify and nurture growth-oriented companies effectively. With a strategic focus on applying best international practices and strong governance standards, SPE Capital is well-positioned to leverage OMOA's established market presence.

The investment in OMOA represents SPE Capital's first endeavor from its newly raised private equity fund, SPE PEF III, LP. This move reinforces their strategy to enhance OMOA's leadership within the digital payments sector and capitalize on transformational growth initiatives.

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This investment marks a promising opportunity for SPE Capital, given OMOA's established position as a leader in the rapidly expanding digital payments market in Côte d'Ivoire. The strategic enhancements implemented by Adenia have set a strong foundation for OMOA, positioning it to capture the ongoing growth in the sector.

From an investment perspective, the changing landscape of financial services in Africa presents a unique chance for SPE Capital to support OMOA in leveraging its capabilities towards offering innovative, customer-centric payment solutions. This aligns well with the growing demand for digital payment services across the region.

Moreover, OMOA’s collaboration with key partners, such as NCR Atleos, emphasizes its commitment to staying at the forefront of technological advancements. This ability to adapt and innovate will be crucial in solidifying its market leadership.

Ultimately, SPE Capital’s involvement could propel OMOA to new heights, enhancing its competitive edge while paving the way for future growth. As consumer needs evolve, OMOA is well-positioned to respond effectively, making this deal a potentially lucrative investment for SPE Capital.

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