Zazi Capital buys 20.82% of UsPlus in R166M-valued cash deal
What's the deal? Zazi Capital has acquired all UsPlusDealroom has a profile for this one. Try Dealroom → shares held by Baleine Capital, a 20.82% stake in the South African working-capital lender. The all-cash deal settled on 4 August 2026 and implies an equity value of about R166 million for UsPlus.
Who's involved? Zazi Capital advises selected family offices and businesses and originates private capital investments. Baleine Capital, which backed the founding of UsPlus in 2015, was previously its second-largest shareholder after UsPlus Holdings.
Why now? Zazi Capital and UsPlus have had a strategic relationship since late 2025. During that period, Zazi Capital helped UsPlus strengthen its balance sheet and raise capital to fund growth.
What's the endgame? The two share a goal of improving access to working-capital funding for small and medium-sized enterprises, an area they describe as underserved in South Africa. Zazi Capital will recommend a non-executive director for appointment to the board.
What changes? Uys Meyer, a non-executive director and principal executive of Baleine Capital, will remain a UsPlus director, retaining institutional knowledge. In a related disclosure, Meyer's associate Baleine Capital disposed of 744 ordinary shares at R46,483.63 each, a total of R34,583,817.
The signal: The deal ties an established private capital originator more closely to a lender targeting SME funding gaps. It signals continued investor appetite for financing the underserved small-business segment of South Africa's economy.
Read more: Moneyweb
Image credit: Homedust
