Mauritian financial services provider AXYS Group has taken full ownership of the stockbroker AIB-AXYS Africa, after buying the 45 percent stake held by local shareholders for Sh120 million.
The deal, according to sources familiar with the matter, was concluded in September 2024. The multinational first acquired a 55 percent stake in AIB-AXYS in 2020, spending Sh150 million to merge its local subsidiary, Apex Africa Capital, with AIB Capital, whose owners took a 45 percent interest in the amalgamated firm.
