Pan-African private equity firm AfricInvest and microfinance firm Microcred Group have agreed to acquire a 100 percent stake in Zimbabwe-based financial products and services provider MicroKing Finance. AfricInvest, which will acquire a 30 percent stake in the company, will structure its investment through AfricInvest Financial Sector Fund. MicroKing provides financial services that are accessible and adapted to the needs of micro, small- and medium-sized businesses in Zimbabwe. Financial details of the transaction, which is pending regulatory approval, were not disclosed.