Daba Weekly Market Digest: BRVM Gains as African IPOs & Fintech Surge

August 3 - August 6, 2026

Last week in African financial markets delivered a positive showing, with the BRVM Composite Index advancing while significant activity across the fintech and energy sectors pointed to continued investor confidence across the continent.

BRVM Performance: Regional Market Advances

The BRVM Composite Index closed the week of August 3-6, 2026 with a gain of +0.59%. The advance reflected positive momentum on the regional exchange, even as performance remained mixed across individual stocks.

Top Stories: Nigeria's IPOs and Fintech Powerhouses

Beyond the BRVM's gains, the broader African investment landscape was vibrant with high-profile developments:

• Nigeria-Focused Fintech PalmPay Eyes Hong Kong IPO: After achieving a $1 billion valuation, PalmPay is reportedly considering a Hong Kong initial public offering. The potential listing highlights growing global interest in Africa's rapidly expanding fintech sector.
• Nigeria's Dangote Refinery Aims to Raise $5B With October Listing: In what could become Africa's largest IPO, Dangote Refinery is preparing to raise an ambitious $5 billion. The anticipated listing underscores the scale of investment opportunities emerging from Nigeria's industrial and energy sectors.
• African Mobility Fintech Moove Raises $250M at $2.1B Valuation: Mobility fintech Moove secured $250 million in funding, taking its valuation to $2.1 billion. The investment further highlights investor appetite for technology-driven businesses addressing major mobility and infrastructure needs across Africa.

Market Movers: Gainers and Losers

In individual stock performance, Sicor Côte d'Ivoire (SICC) emerged as the week's top gainer, recording a significant rise of +10.7%. Other notable gainers included Sitab Côte d'Ivoire (STBC) with +7.65%, Bank of Africa - Côte d'Ivoire (BOAC) up +7.26%, Unilever Côte d'Ivoire (UNLC) with +7.05%, and SMB Côte d'Ivoire (SMBC) increasing by +6.77%.

Conversely, Loterie Nationale du Benin (LNBB) was the top loser, declining -11.07%. Other decliners included NEI-CEDA Côte d'Ivoire (NEIC) down -7.24%, Ecobank Transnational Inc (ETIT) falling -7.14%, Bollore Transport & Logistics (SDSC) with -6.3%, and Total Côte d'Ivoire (TTLC) decreasing by -5.71%.

Macro Context & Daba Insights

The BRVM's +0.59% advance last week pointed to positive overall momentum on the regional market, although sharp moves among individual stocks showed that performance remained highly selective.

Our editorial team advises investors to watch Sicor Côte d'Ivoire following its market-leading +10.7% weekly gain, as investors assess whether the move signals a broader shift in market leadership.

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