EFAfrica Group has raised $12 million new equity for regional expansion and acquired EFTA, Tanzania’s leading SME equipment finance business.

EFAfrica Group aims to become the leading equipment leasing provider for SMEs in Africa. Through the acquisition of EFTA, EFAfrica Group will leverage EFTA’s experience, equipment suppliers, and systems and processes to develop the business in Kenya. EFTA has assets of $16 million, 60 employees and eight branches. Almost 1,200 loans were made...