SOCIETE IVOIRIENNE DE BANQUE COTE D'IVOIRE

Brewery companies listed on the Nigerian Exchange (NGX) have posted strong performances in 2025, driven by improved earnings, reduced FX losses, and rising investor confidence. The NGX Consumer Goods Index is up 57% year-to-date, fueled by gains across the sector.Champion Breweries leads with a 246.46% year-to-date share price increase. Its Q1 2025 results showed a pre-tax profit of ₦1.7 billion, reversing a ₦798.4 million loss in the prior year. Revenue rose 93.75% to ₦8.4 billion, and FX losses were eliminated.International Breweries posted a 176.6% share gain, moving from ₦5.20 to ₦15.35. Its Q1 pre-tax profit was ₦35 billion, up from a ₦89.3 billion loss last year. Revenue rose 68.21% to ₦173.6 billion, while FX losses dropped to ₦581.4 million.Nigerian Breweries saw a 94.8% increase in share price. It posted ₦69.9 billion pre-tax profit in Q1 2025, reversing a ₦65.5 billion loss. Revenue hit ₦383.6 billion, with FX losses falling to ₦178 million.Guinness Nigeria rose 25.3%, backed by a Q1 pre-tax profit of ₦10.2 billion, versus a ₦56 billion loss a year earlier. Revenue increased to ₦118.3 billion, and finance costs dropped to ₦24 billion.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Nigerian Brewery Stocks Surge in 2025 as Profits Return

African Markets

Nigerian Brewery Stocks Surge in 2025 as Profits Return

Castel Group has completed the acquisition of an 80.4% stake in Guinness Ghana Breweries PLC from Diageo, gaining operational control of one of Ghana’s leading brewers. The transaction, approved earlier in the year, marks Castel’s entry into its 22nd African market.Diageo retains ownership of the Guinness brand and related products, which will continue to be brewed locally under long-term licensing agreements. Guinness Ghana will also maintain exclusive distribution rights for Diageo’s international spirits.The transition comes as Guinness Ghana returns to profitability, posting a net profit of GH¢83.9 million in H1 2024/25. Revenues rose 35.7% to GH¢1.6 billion, supported by stronger volumes and pricing. Finance costs dropped 37.7% to GH¢17.5 million due to lower short-term debt.The company will remain listed on the Ghana Stock Exchange, and all employees will retain current contracts. Castel says it plans to expand operations while maintaining product quality and stakeholder relationships.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Castel Completes Acquisition of Majority Stake in Guinness Ghana

Castel Completes Acquisition of Majority Stake in Guinness Ghana

After five years without a single new listing, the Nairobi Securities Exchange (NSE) will admit Shri Krishana Overseas Ltd (SKOL), a manufacturer of packaging materials and footwear, via direct listing.Founded in 2009 by Nirmal Chaudhry and Dr. Sonvir Singh, SKOL will list 50.5 million shares at 5.90 Kenyan shillings each, valuing the company at KES 298 million. The shares will trade on the NSE’s SME segment, with no new capital raised.The direct listing — NSE’s first since 2020 — provides liquidity to existing shareholders and boosts the company’s market visibility. It also meets minimum public float requirements without a traditional IPO. SKOL has become the 15th firm to list by introduction since 2006.The listing follows renewed political pledges to revive Kenya’s capital markets. In London, President Ruto recently confirmed plans to list Kenya Pipeline Company by year-end. Progress on similar pledges has been limited.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Nairobi Bourse Welcomes First New Listing Since 2020 With SKOL

Nairobi Bourse Welcomes First New Listing Since 2020 With SKOL

Movis Côte d’Ivoire (<a href="https://www.dabafinance.com/en/capitalmarkets/SVOC" rel="noopener noreferrer" target="_blank">BRVM: SVOC</a>) was officially delisted from the West African regional stock exchange (BRVM) following a public buyout by its majority shareholder, Movis International.The buyout offer, held from April 21 to May 21, targeted the remaining 111 shares in free float, representing the final tranche of publicly held equity. Investors received 40,000 CFA francs per share, or approximately $66.85. The offer was fully subscribed.The delisting follows three consecutive years of financial losses, totaling nearly CFA 12 billion. In 2023 alone, losses reached CFA 3.51 billion, driven by weak receivables recovery, rising costs, and declining productivity. Movis had announced plans to exit the market in May 2024.Trading in SVOC shares had been thin, and the company cited low liquidity and high listing costs as reasons for leaving the BRVM. With its exit, Africa Global Logistics remains the only transport-sector stock on the exchange.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Movis Côte d’Ivoire Delists from BRVM After Buyout

GTCO Holdings will begin trading on the London Stock Exchange (LSE) at 8:00 a.m. on July 9, becoming the first Nigerian banking group to directly list all its ordinary shares in London.The dual listing is accompanied by a $100 million capital raise through an accelerated bookbuild offering led by Citigroup. The offer, launched on July 2, targets institutional investors in the UK, US, and other markets. Proceeds will help recapitalize GTBank Nigeria to meet the N500 billion capital threshold for international banking licenses.As part of the move, GTCO will terminate its Global Depositary Receipts (GDR) program, active since 2007. GDR holders have until July 23 to exchange their instruments for depositary interests, with the GDR delisting scheduled for July 30. GTCO follows a similar path to Seplat and Airtel Africa, which also maintain dual listings on the NGX and LSE.The domestic listing on the Nigerian Exchange (NGX) under the symbol “GTCO” remains unaffected. Shares will be transferable between the NGX and LSE, subject to regulatory conditions.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Nigeria's GTCO to List on London Stock Exchange Amid $100M Offering

Nigeria's GTCO to List on London Stock Exchange Amid $100M Offering

MTN Uganda will open a 14-day exit window for minority retail shareholders ahead of the planned separation of its mobile money business. The move is part of MTN Group’s “Ambition 2025” strategy to accelerate fintech growth across Africa.Under the plan, MTN Mobile Money (U) Ltd will merge into a new fintech company, MTN New FinCo, jointly owned by MTN Group Fintech Holdings and a trust representing MTN Uganda shareholders. The trust will preserve shareholder rights and economic benefits after the spin-off.The new company will operate independently from telecom services and be regulated under Uganda’s National Payment Systems Act. Shareholders uncomfortable with the new structure can sell their shares through licensed brokers during the exit window. MTN has committed to buy back any remaining shares.To counter the rise in withholding tax on dividends from 10% to 15%, a dividend adjustment trust will absorb the difference for Ugandan retail investors.The EGM to approve the restructure has been pushed from July 2 to July 22, 2025. MTN said the hybrid format will boost participation across Uganda and the diaspora.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/MTN Uganda Offers Exit Option Retail Investors as MoMo Spin-Off Nears

MTN Uganda Offers Exit Option Retail Investors as MoMo Spin-Off Nears

Kenya will list the Kenya Pipeline Company (KPC) on the Nairobi Securities Exchange (NSE) in 2025, President William Ruto said during the opening of the London Stock Exchange. The move is part of a broader plan to privatize state-owned enterprises and deepen Kenya’s capital markets.Ruto said the listing is aimed at attracting both local and foreign investors by offering shares in key state assets through IPOs. The plan is backed by the Privatisation Act, 2023, which mandates Cabinet approval and oversight from the Privatisation Authority.KPC manages petroleum transport and storage infrastructure across Kenya and the wider East African region. Its IPO is expected to bring new capital, improve transparency, and increase operational efficiency.The government is implementing a structured timeline to identify and execute the privatization of selected entities. If successful, the KPC IPO would be one of the most significant listings in Kenya’s recent market history.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Kenya Plans IPO for State-Owned Pipeline Firm in Privatization Push

Kenya Plans IPO for State-Owned Pipeline Firm in Privatization Push

National Bank of Malawi (NBM) has declared a record K59 billion dividend for 2024, after reporting a net profit of K101 billion ($58 million). The announcement was made during the bank’s annual general meeting on Monday.Directors recommended a final dividend of K28.6 billion, adding to interim payouts of K13 billion in September 2024 and K17.4 billion in April 2025. Shareholders will receive K126.35 per ordinary share, up from K102.80 in 2023.Board Chair Jimmy Lipunga credited the strong performance to resilient governance and capable management amid a tough economic environment marked by inflation, FX shortages, and high interest rates. However, shareholders expressed concern over Akiba Commercial Bank, NBM’s Tanzanian subsidiary, which posted losses during the year.Lipunga acknowledged the underperformance and said board-led investigations confirmed the losses stemmed from legacy loans. He assured shareholders that corrective steps are in motion.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/National Bank of Malawi Declares Bumper Dividend After $58M Profit

National Bank of Malawi Declares Bumper Dividend After $58M Profit

The Nigerian Exchange Limited (NGX) has updated its NGX 30 Index, removing Conoil and Julius Berger in its mid-year review due to shifts in market capitalization. Replacing them are Aradel Holdings and Wema Bank, keeping the benchmark index at 30 constituents.The semi-annual review, published July 1 under the theme “Strengthening the Competitiveness of African Economies,” reflects ongoing recalibrations across NGX indices. In the Consumer Goods Index, McNichols Consolidated Plc replaced Golden Guinea Breweries Plc.Other index changes included LASACO Assurance Plc joining the NGX Insurance Index, replacing Fortis Global and International Energy Insurance. Austin Laz &amp; Company Plc replaced Notore in the Industrial Goods Index. Julius Berger, while dropped from the NGX 30, was added to the Afrinvest Dividend Yield Index and removed from the Meristem Value Index.The NGX 30 rose 16.03% in H1 2025, closing at 4,423.0 points from 3,811.9. Aradel joined with a market cap of ₦2.2 trillion (approx. $3.9 billion), while Wema Bank entered with ₦317.2 billion (approx. $565 million), after a 67.64% share price gain.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/NGX 30 Index Drops Conoil and Julius Berger, Adds Aradel and Wema Bank

NGX 30 Index Drops Conoil and Julius Berger, Adds Aradel and Wema Bank

CRDB Bank has listed its inaugural green bond, worth TZS 171.8 billion ($65.7 million), on the Luxembourg Stock Exchange (LuxSE), marking the first time a Tanzanian commercial bank’s domestically issued green bond has been admitted to LuxSE and displayed on its sustainable finance platform, the Luxembourg Green Exchange (LGX).The bond, named “Kijani” (Swahili for green), was oversubscribed by 429%. Proceeds will fund renewable energy, climate-smart agriculture, clean cooking energy, green buildings, sustainable transport, and water and sanitation systems across Tanzania. The move enhances CRDB’s access to global capital and reinforces its role as a sustainability leader in East and Central Africa.The listing was commemorated during a “Ring the Bell” ceremony on June 30, attended by CRDB CEO Abdulmajid Mussa Nsekela and Luxembourg Stock Exchange officials. Orbit Securities Tanzania served as the sponsoring broker.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Tanzania’s CRDB Lists $65.7M Green Bond on Luxembourg Stock Exchange

Tanzania’s CRDB Lists $65.7M Green Bond on Luxembourg Stock Exchange

Africa has launched its first pan-African payment card system, PAPSSCARD, aiming to cut dependence on foreign card networks and retain more financial value on the continent. The announcement was made at the 32nd Afreximbank Annual Meetings in Abuja, Nigeria.The PAPSSCARD is a joint venture by Afreximbank, the Pan-African Payment and Settlement System (PAPSS), and Mercury Payment Services (MPS). It is designed to process retail card transactions entirely within Africa, lowering fees and improving data sovereignty.PAPSSCARD will be usable across national borders, reducing the cost of intra-African trade and payment transactions routed through global networks like Visa or Mastercard. Partners include Bank of Kigali, I&amp;M Bank Rwanda, Nigeria’s Unified Payments, and Rwanda’s national switch Rswitch.Leaders say the card marks a shift toward economic self-reliance. “PAPSSCARD empowers us to move money swiftly, securely, and affordably across borders,” said Afreximbank President Benedict Oramah. Commemorative cards were also launched during the unveiling.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Africa Launches First Card Scheme for Cross-Border Payments

Africa Launches First Card Scheme for Cross-Border Payments

The Ghana Stock Exchange ended June 2025 with modest gains, supported by continued momentum in financial sector equities. The GSE Composite Index rose 0.62% to close at 6,248.48 points, bringing year-to-date (YTD) returns to 27.82%. The Financial Stock Index outperformed, gaining 1.58% to reach 3,376.01 points and delivering a YTD return of 41.80%.Banking stocks led the rally. Ecobank Ghana added GH¢1.09 to close at GH¢8.70, while Standard Chartered gained GH¢0.88 to GH¢27.88. GCB Bank rose GH¢0.67 to GH¢10.00. Société Générale and SIC Insurance recorded smaller increases.Market capitalization expanded slightly to GH¢137.30 billion. Turnover surged 21.61% to GH¢21.81 million, while trading volume fell 2.01% to 5.79 million shares. Top performer Total Petroleum Ghana rallied by GH¢2.50 to GH¢27.50, posting a 109.60% YTD gain. GLD fell GH¢5 to GH¢353.88, the sharpest drop of the week, driven by weaker global gold prices. MTN Ghana, despite losing GH¢0.02, led trading volumes with 4.73 million shares traded, valued at GH¢13.93 million.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Financial Stocks Power Ghana Stock Exchange to June Gains

Financial Stocks Power Ghana Stock Exchange to June Gains

OK Zimbabwe Limited, a Zimbabwe Stock Exchange-listed retailer, plans to sell several core assets—including four supermarkets—to raise $10.5 million in a bid to resolve a mounting liquidity crisis.The asset sales, disclosed in a cautionary statement and circular to shareholders, are part of a broader restructuring effort. Properties earmarked for disposal include OK Mbuya Nehanda in Harare, OK Gweru, OK Glen View, OK Malvern, a warehouse, and two vacant commercial stands.The company is facing acute financial distress with debts reaching $30 million by February 28, 2025, and insufficient cash flows to meet operating needs. According to the company secretary, proceeds will be used to restock shelves and repay creditors.The board said the capital injection is aimed at stabilizing operations and preventing further decline. Shareholders will vote on the plan in the coming weeks.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/OK Zimbabwe Plans Asset Sales to Raise $10.5M Amid Cash Crunch

OK Zimbabwe Plans Asset Sales to Raise $10.5M Amid Cash Crunch

South African venture capital firm Knife Capital has announced new Series A investments in fintech startup Sticitt and optometry business Optique, marking its 15th anniversary. The investments were made through Knife Capital’s KNF Fund II.Sticitt, founded in 2018, provides a digital platform for school-related financial transactions and currently serves 841 schools with over 75,700 users. Knife Capital initially backed the company through its Grindstone accelerator and Grindstone Ventures.Founded in 2017, Optique operates 19 franchise optometry branches in South Africa and an online store. The startup combines affordability and digital convenience to increase access to eye care services.Knife Capital, founded in 2010, invests in innovation-driven businesses across Africa, with offices in Cape Town, London, and Jersey. The firm also manages KNF I and Knife Fund III.Co-founder Keet van Zyl said the new investments reflect Knife’s focus on startups that solve real-world problems with execution discipline and scalable business models.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Knife Capital Backs Sticitt and Optique in New Series A Deals

Disrupt Africa

Knife Capital Backs Sticitt and Optique in New Series A Deals

Ghanaian agritech startup Complete Farmer has secured $2.5 million from the EU-funded AgriFI facility to support its infrastructure expansion in northern Ghana. The funding, managed by EDFI Management Company, will finance the construction of six fulfillment centers across five northern regions, focused on aggregation, quality control, and logistics for smallholder farmers.Founded in 2017, Complete Farmer operates a digital agricultural marketplace with two core offerings: CF Grower, which helps African farmers improve productivity and access international markets; and CF Buyer, which supplies global commodity buyers with crops grown to meet their specific standards.The latest investment follows a $10.4 million pre-Series A round raised in September 2023. The AgriFI-backed expansion aims to connect more than 5,000 farmers to better infrastructure and markets, aligning with EU development goals around inclusive rural growth and value chain strengthening.CEO Desmond Koney said the partnership would support the company’s goal of building a resilient agricultural sector powered by technology.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Complete Farmer Raises $2.5M from EU’s AgriFI to Expand in Ghana

Complete Farmer Raises $2.5M from EU’s AgriFI to Expand in Ghana

Fara Ashiru Jituboh, co-founder and former CEO/CTO of Nigerian fintech Okra, has exited the company following its shutdown in May 2025. According to her LinkedIn profile, she has taken a new role as Head of Engineering at UK-based startup Kernel.Founded in 2019 with David Peterside, Okra built APIs that enable African users to connect their bank accounts to third-party apps, supporting fintech products across lending, insurance, and investment. The company raised more than $16.5 million in total funding, with early backers including TLcom Capital and Susa Ventures, according to multiple reports.The closure comes months after the launch of Nebula, Okra’s in-house naira-denominated cloud product, aimed at countering rising foreign cloud costs. The move was a response to Nigeria’s FX pressures, which had made AWS and Azure unaffordable for local startups.Peterside left in 2022, and no new CEO was named before the shutdown. Okra’s closure marks the end of one of Africa’s early pioneers in open finance.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Okra Co-Founder Fara Ashiru Jituboh Exits as Startup Shuts Down

Techpoint Africa

Okra Co-Founder Fara Ashiru Jituboh Exits as Startup Shuts Down

African mobility fintech startup Moove is close to finalizing a $1.2 billion debt financing round to support its rollout of autonomous vehicles in the United States through a partnership with Alphabet Inc.’s Waymo, according to a Bloomberg report citing sources familiar with the matter.The round is reportedly oversubscribed, with strong interest from private credit funds and banks. Final terms are expected to be concluded in the coming weeks.Founded in 2020 by Nigerians Ladi Delano and Jide Odunsi, Moove initially offered vehicle financing to ride-hailing drivers in Africa and now operates across more than 13 markets, including the UAE, India, and Mexico. It has built a fleet of 38,000 vehicles and expects to generate nearly $400 million in revenue by the end of 2025, up from $275 million in 2024.Moove previously raised $110 million in 2023, including a $100 million Series B led by Uber. The company has repaid around $100 million in loans, a milestone co-founder Delano highlighted as a sign of the firm’s maturity.Waymo has not commented on the deal. If finalized, this would be one of the largest debt raises by an African-founded tech company.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Moove Nears $1.2B Debt Raise to Fund Fleet Rollout with Waymo

Bloomberg

Moove Nears $1.2B Debt Raise to Fund Fleet Rollout with Waymo

Ghana-based fintech Liquify has raised a S$1.5 million seed round to scale its digital invoice finance platform aimed at African SME exporters. The round was led by Future Africa, with participation from Launch Africa, 54 Collective, Digital Africa, Equitable Ventures, and strategic angels. Liquify also secured extended debt backing from Emerald Africa.Founded in 2023 by Nadya Yaremenko and Alberta Asafo-Asamoah, Liquify operates an end-to-end platform that allows African SMEs to convert export invoices into working capital. The solution automates onboarding, KYC/AML, credit checks, and investor settlement, enabling exporters to receive payments within hours.Since its beta launch in late 2024, the platform has processed over 150 transactions totaling $4 million in invoice volume. Liquify aims to close a portion of Africa’s $120 billion trade finance gap by connecting local exporters to global capital seeking low-correlation short-term assets.The new funding will be used to expand Liquify’s operations across Sub-Saharan Africa, enhance its AI-powered due diligence and credit engines, and scale hiring across product and customer success teams.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Liquify Gets $1.5M to Offer Invoice Financing to African Exporters

Liquify Gets $1.5M to Offer Invoice Financing to African Exporters

Venture capital investment in mining and critical metals has grown more than tenfold since 2020, driven by the rising demand for minerals used in clean energy technologies. However, a new report by Cleantech Group warns that this capital surge is missing early-stage innovation and the Global South, regions key to the energy transition.The report, developed in partnership with the Quadrature Climate Foundation, highlights gaps in funding for mineral processing, remediation technologies, and hard-tech startups in countries like Chile, Zambia, South Africa, and Indonesia. It calls for targeted interventions to strengthen local ecosystems by improving linkages between startups, universities, corporates, and investors.“To meet climate and industrial goals, we need a new wave of catalytic capital to support early-stage hardware solutions and ensure the Global South is empowered as a driver, not just a supplier, of the clean energy transition,” said Noah Ross, Cleantech Group senior consultant.Cleantech urges philanthropic capital to bridge market failures by funding shared demonstration infrastructure and connecting Global South innovators to resources in the Global North. The report outlines policy and investment roadmaps to increase local value capture in mining-dependent economies.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/VC Investment in Mining Soars But Global South Still Left Behind

VC Investment in Mining Soars But Global South Still Left Behind

Shoptreo, a Nigerian e-commerce startup digitizing informal artisanal supply chains, has secured early-stage funding from Rebel Seed Capital. The investment amount was undisclosed but aligns with Rebel Seed’s ticket range of $10,000 to $50,000.Founded by George Uteh, Shoptreo helps local artisans—particularly in Nigeria’s Aba Artisanal Leather Cluster—access global markets by offering digital storefronts, inventory tools, logistics support, and integrated payments. The company also provides inventory financing to trusted distributors and bulk buyers to enable order scaling and reduce liquidity constraints.Shoptreo plans to use the funds to expand product development, onboard more artisans, and deepen partnerships with logistics and financial service providers.The Aba Leather Cluster is one of Africa’s largest hubs for handmade goods, producing millions of shoes and bags annually. By digitizing this informal manufacturing ecosystem, Shoptreo aims to increase export potential and streamline access to working capital and international buyers.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Shoptreo Raises Funding to Take Nigerian Artisan Products Global

Shoptreo Raises Funding to Take Nigerian Artisan Products Global

Google has announced the selection of 15 African startups for the ninth cohort of its Google for Startups Accelerator: Africa. The three-month programme targets early-stage, AI-first companies and aims to support their growth with technical mentorship, business development resources, and cloud credits.Selected ventures span Nigeria, Kenya, Ghana, Rwanda, South Africa, Senegal, and Ethiopia. Among them are Nigeria’s Pastel, which develops AI fraud detection for banks; Kenya’s Shamba Records, which helps farmers access smart credit; and Rwanda’s Smartel Agri Tech, which offers solar-powered AI devices to detect crop diseases.Each startup will receive up to $350,000 in Google Cloud credits, tailored AI product support, and mentorship from Google engineers. The programme received nearly 1,500 applications from across Africa.Since its launch in 2018, the initiative has supported 140 startups across 17 countries. Google’s goal is to promote locally relevant AI innovation in critical sectors like agriculture, health, finance, and logistics.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Google Selects 15 African AI Startups for Latest Accelerator Cohort

Google Selects 15 African AI Startups for Latest Accelerator Cohort

Egyptian agri-fintech startup AgriCash has raised an undisclosed seed funding round led by Alex Angels, with participation from other regional investors. The company, founded in 2024 by Diaa Youssef and Mostafa El-Sehli, offers a digital platform that provides farmers with AI-powered agronomic insights, crop insurance, and Buy Now, Pay Later (BNPL) credit to access farming and livestock inputs.The new capital will support AgriCash’s plans to scale across Egypt, enter regional markets, and finalize integrations with financial and insurance partners. Its Sharia-compliant BNPL model offers credit ceilings of up to EGP 3 million and repayment periods of up to 12 months without interest.AgriCash has onboarded over 1,500 active farmers, partnered with 60 suppliers, and listed more than 750 products. The company is targeting EGP 500 million in business volume by the end of 2025 and plans to launch livestock financing in 2026.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Egypt’s AgriCash Secures Seed Funding to Scale Farmer Credit Platform

Wamda

Egypt’s AgriCash Secures Seed Funding to Scale Farmer Credit Platform

The Bourse Régionale des Valeurs Mobilières (BRVM) has updated the composition of its flagship BRVM 30 index following the quarterly review concluded on July 1, 2025. Three new stocks—BIIC Benin (<a href="https://www.dabafinance.com/en/capitalmarkets/BICB" rel="noopener noreferrer" target="_blank">BICB</a>), Servair Abidjan (<a href="https://www.dabafinance.com/en/capitalmarkets/ABJC" rel="noopener noreferrer" target="_blank">ABJC</a>), and Sicable (<a href="https://www.dabafinance.com/fr/marches-financiers/CABC" rel="noopener noreferrer" target="_blank">CABC</a>)—have been added, replacing Coris Bank International BF (<a href="https://www.dabafinance.com/fr/marches-financiers/CBIBF" rel="noopener noreferrer" target="_blank">CBIBF</a>), Loterie Nationale du Bénin (<a href="https://www.dabafinance.com/fr/marches-financiers/LNBB" rel="noopener noreferrer" target="_blank">LNBB</a>), and Oragroup Togo (<a href="https://www.dabafinance.com/fr/marches-financiers/ORGT" rel="noopener noreferrer" target="_blank">ORGT</a>), which were removed.The update maintains the index at 30 constituents. The BRVM 30 is designed to reflect market liquidity and performance trends of the region’s most actively traded stocks across the WAEMU zone. Notable remaining constituents include Ecobank CI, Orange CI, Sonatel SN, and TotalEnergies Marketing CI.The revision supports the exchange’s objective of enhancing market representation and liquidity, according to BRVM Director General Dr. Edoh Kossi Amenounve.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/BRVM 30 Index Adds Three New Stocks in Quarterly Rebalance

BRVM

BRVM 30 Index Adds Three New Stocks in Quarterly Rebalance

The Johannesburg Stock Exchange (JSE) delivered a strong 14.7% gain in the first half of 2025, with a 22% return over the past year. However, the rally was narrow, with only 25% of listed shares achieving double-digit returns, while 128 stocks declined.Top performers included Blue Label Telecoms (+144%), Choppies (+136%), and MTN Zakhele Futhi (+110%). Meanwhile, gold and platinum miners such as&nbsp;Sibanye-Stillwater&nbsp;(+96%) and&nbsp;AngloGold Ashanti&nbsp;(+81%) also contributed to gains. MTN Group rose 51%, bolstered by the unwinding of its BEE scheme. Telkom (+54%) and Vodacom (+34%) also advanced, as did YeboYethu (+55%).Investors who passively tracked the Satrix Top 40 would have outperformed most retail stock pickers. Only 59 out of 289 stocks outpaced the index’s 14% return. Meanwhile, 215 stocks failed to beat the 10-year government bond yield.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Gold, Telcos, and Mid-Caps Power JSE’s 14.7% Rally in First-Half 2025

Moneyweb

Gold, Telcos, and Mid-Caps Power JSE’s 14.7% Rally in First-Half 2025

Axian Telecom is exploring a possible acquisition of Jumia Technologies AG, Africa’s largest e-commerce platform, according to people familiar with the matter cited by Bloomberg. The Mauritius-based telecom operator recently raised $600 million, partly to fund the potential deal. Jumia currently holds a market value of about $500 million.Sources say Axian has already built an 8% stake and may seek to delist Jumia from the New York Stock Exchange. While no final decision has been made, the proposed deal could support both companies’ ambitions to scale across Africa. Representatives for Axian and Jumia declined to comment.Following the report, Jumia’s U.S.-listed shares jumped as much as 17%, later trading up 5.7% at $4.25. The stock is up 11% year-to-date.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Axian Telecom Reportedly Eyes Potential Takeover of Jumia

Axian Telecom Reportedly Eyes Potential Takeover of Jumia

MTN Nigeria has completed Phase 1 of its Dabengwa Sifiso Data Centre project, marking a $100 million investment in Nigeria’s data hosting market. The Tier III-certified facility delivers 4.5MW IT load capacity, houses 780 racks over three floors, and is designed to scale to 9MW with Phase 2 targeting Tier IV certification.The facility, named after former MTN Group CEO Sifiso Dabengwa, signals MTN’s official entry into Nigeria’s commercial data centre space. The $235 million project aims to support local cloud infrastructure and offer enterprise services such as Infrastructure-as-a-Service (IaaS), AI processing readiness, and carrier-neutral hosting.MTN plans to offer self-orchestration capabilities through its MTN Cloud platform, enabling startups and developers to provision resources similarly to AWS or Google Cloud. With a modular design and compliance with Nigeria’s data protection regulations, the centre targets clients in finance, healthcare, and government.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/MTN Targets Cloud Market With New $325M Data Center in Nigeria

TechCabal

MTN Targets Cloud Market With New $325M Data Center in Nigeria

South Africa’s Nedbank is reviewing its 21.22% stake in Ecobank Transnational Incorporated (<a href="https://www.dabafinance.com/en/capitalmarkets/ETIT" rel="noopener noreferrer" target="_blank">BRVM: ETIT</a>), potentially ending a 16-year strategic alliance with the pan-African bank. The announcement, made on June 24, 2025, follows a broader review of investment priorities under CEO Jason Quinn, who took office in 2024.Nedbank became ETI’s largest shareholder in 2008 through a $500 million investment and later formalized the partnership in 2014. The group confirmed that the stake in ETI is being evaluated as a financial investment, though no decision has been made to sell.ETI operates in 33 countries, including 32 across sub-Saharan Africa and one in France. The bank’s total assets stood at $28 billion as of December 31, 2024. Other major shareholders include Qatar National Bank (20.10%), Arise BV (14.10%), and South Africa’s Public Investment Corporation (13.48%).A divestment would reduce Nedbank’s exposure outside Southern Africa and could change ETI’s shareholder structure. It could also open space for new African or international investors.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/South Africa's Nedbank Considers Selling Stake in Ecobank Group

RichBourse

South Africa's Nedbank Considers Selling Stake in Ecobank Group

Wave, one of Africa’s highest-valued startups, has secured a $137 million debt round to expand its mobile money operations and boost working capital across existing and new markets. The round was led by Rand Merchant Bank (RMB), with participation from development finance institutions including British International Investment (BII), Finnfund, and Norfund.The funding will support Wave’s mission to expand low-cost financial access for underserved communities across the continent. The fintech, which currently operates in eight West African countries, now serves over 20 million monthly users through a network of 150,000 agents and a team of 3,000 employees.Since its launch in 2018, Wave has grown rapidly by offering simple, affordable mobile money services in a market long dominated by telecom operators like Orange, Free, and Expresso Telecom, who historically charged up to 10% per transaction. Wave disrupted the space by offering free deposits and withdrawals and a flat 1% fee on peer-to-peer transfers.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Wave Raises $137M Debt for Mobile Money Expansion Across Africa

Wave Raises $137M Debt for Mobile Money Expansion Across Africa

Zimbabwe Stock Exchange Holdings Limited (ZSEHL) will debut on the Zimbabwe Stock Exchange (ZSE) main board on July 9, 2025, through a listing by introduction. The move follows shareholder approval of a corporate restructuring scheme in October 2024 and final regulatory clearance from the Securities and Exchange Commission of Zimbabwe on June 9, 2025.The listing will involve the entire issued share capital of ZSEHL, which now controls ZSE Limited and the Victoria Falls Stock Exchange (VFEX) as wholly owned subsidiaries. The restructuring aims to modernise the group’s corporate structure, strengthen governance, and boost access to capital for future expansion.ZSEHL’s listing is part of a broader strategy to improve corporate transparency, expand funding options, and unlock shareholder value in a difficult economic environment. The company has seen declining revenue and a 98% drop in profit after tax in 2024, reporting ZiG1.05 million, down from ZiG147.58 million in the prior year. Liquidity also weakened, with coverage of short-term debt slipping to 1.59x.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Zimbabwe Stock Exchange Holdings to List on ZSE Main Board July 9

Zimbabwe Stock Exchange Holdings to List on ZSE Main Board July 9

On June 24, 2025, the Board of Directors of the Tunis Stock Exchange approved the direct listing of BNA Assurances on the Main Market. The listing will cover 87.39 million existing shares, each with a nominal value of 1 Tunisian dinar, with no capital increase involved. The transaction will be led by BNA Capitaux as the introducing broker.The listing is subject to final approval of the offering prospectus by Tunisia’s Capital Markets Authority (CMF). Once approved, the exchange will publish the official listing notice and set the first trading date.The move represents a new chapter for BNA Assurances, formerly known as AMI Assurances, which rebranded in 2024 after BNA Bank raised its stake to 50.5%. Founded in 2003, the insurer operates a network of 120 branches, making it a significant player in Tunisia’s insurance market.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/BNA Assurances Cleared for Direct Listing on Tunis Stock Exchange

BNA Assurances Cleared for Direct Listing on Tunis Stock Exchange

In a first for Tunisia’s sports and capital markets, the Tunis Stock Exchange Board of Directors has granted preliminary approval for the listing of Taraji Holding, the commercial arm of Espérance Sportive de Tunis (EST), on the Main Market. The decision was made during the board’s meeting on June 24, 2025.The listing will include 18.01 million existing shares and 8 million new shares issued via a capital increase, bringing the total to over 26 million shares, each with a nominal value of 5 Tunisian dinars. The public offering—representing 30.76% of share capital post-listing—will include the 8 million new shares, led by MAC SA as advisor and valuator. Final approval depends on the CMF’s prospectus validation.Taraji Holding's IPO marks a historic shift in Tunisian sports governance, aligning professional football with corporate best practices. As the first sports-related entity to list on the Tunis Stock Exchange, the move opens new funding channels while promoting transparency and long-term sustainability.The holding consolidates EST’s commercial operations—including TV rights, sponsorships, merchandising, ticketing, and events—into a standalone entity structured for capital markets. The listing aims to make the club financially autonomous, more accountable, and investment-ready.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Major Tunis Football Club to List Commercial Unit on Stock Exchange

Major Tunis Football Club to List Commercial Unit on Stock Exchange

The Egyptian Natural Gas Holding Company (EGAS) has awarded six new exploration blocks—four offshore in the Mediterranean and two onshore in the Nile Delta and North Sinai—to a group of international energy companies. The total expected investment amounts to $245 million, with commitments to drill at least 13 exploratory wells. The awards were made under Egypt’s 2024 international bid round via the Egypt Upstream Gateway (EUG), part of the country’s strategy to boost exploration and hydrocarbon output.Chevron Egypt and Shell secured North Samian and Northwest Atoll offshore blocks, with plans to drill two wells each. Eni subsidiary IEOC Production will drill three wells in North Ras El Tin, while Cheiron Egypt will also drill three wells in East Alexandria. Onshore, IPR will drill two wells in North Tanta, and Perenco will explore El Fayrouz with a 3D seismic survey and one well.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Egypt Awards Six Oil & Gas Blocks Worth $245M to Global Firms

Egypt Awards Six Oil & Gas Blocks Worth $245M to Global Firms

Pan-African banking group BGFI Holding Corporation will launch its initial public offering (IPO) on the Central African Stock Exchange (BVMAC) on July 15, 2025, offering 10% of its capital to the public. The public share offering aims to raise 15.7 billion CFA francs ($27.6 million) over a two-month subscription window.The IPO was approved during an extraordinary general meeting on June 25 in Libreville. BGFI will become the first multinational from the CEMAC region to list on the BVMAC, a move expected to boost confidence in a still-nascent regional financial market.The proceeds will strengthen BGFI’s equity base and support the expansion of its subsidiaries in strategic growth markets. The group also announced a shift to a listed-company governance structure, separating the roles of CEO and Chairman to enhance transparency and oversight.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/BGFI Holding to Offer 10% Stake in Historic IPO on BVMAC

BGFI Holding to Offer 10% Stake in Historic IPO on BVMAC

Nigerian billionaire Aliko Dangote has postponed the initial public offerings (IPOs) of Dangote Fertilizer to Q4 2025 and Dangote Refinery to 2026, shifting from earlier plans for a dual listing beginning in early 2025. The announcement was made during the Afreximbank Annual Meetings in June 2025. No reason was given for the revised timeline.The fertilizer plant, already operational and exporting urea, will be listed first. The $23 billion refinery, still ramping up production, will follow. Both projects are key to Nigeria’s goals of achieving energy and food self-sufficiency.IPO proceeds will support debt repayment, especially for the refinery, which carries $3.65 billion in debt. Analysts estimate IPO valuations at $20–25 billion for the refinery and $2.5–3.5 billion for the fertilizer unit, pending market and debt conditions.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Dangote Postpones IPOs of Fertilizer and Refinery Subsidiaries

Dangote Postpones IPOs of Fertilizer and Refinery Subsidiaries

Access Bank Tanzania has finalized its acquisition of Standard Chartered Bank Tanzania’s Consumer, Private, and Business Banking division, following regulatory approval. The deal marks a key milestone in Access Bank’s expansion strategy and reinforces its commitment to providing inclusive, digital-first financial services across the country.The acquisition significantly enhances Access Bank Tanzania’s footprint, client base, and service offerings. Customers will now benefit from a broader suite of products, including personal and SME lending, savings, wealth management, digital banking, and trade finance. The bank also gains cross-border capabilities through Access Bank Group’s presence in 24 global markets.Managing Director Imani John said the integration merges Standard Chartered’s strong legacy in business banking with Access Bank’s innovation and pan-African reach, creating a more inclusive platform to support Tanzania’s financial inclusion goals.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Access Bank Tanzania Completes Acquisition of StanChart’s Retail Unit

Access Bank Tanzania Completes Acquisition of StanChart’s Retail Unit

Gadaa Bank S.C. has become the second bank to list on the Ethiopian Securities Exchange (ESX), following formal approval of its prospectus by the Ethiopian Capital Market Authority (ECMA) on June 17, 2025. The listing represents a major step in Ethiopia’s financial sector reform and signals growing confidence in the country’s public capital markets.The move is significant as Gadaa Bank is the first among its peer group with a relatively short operational history to be publicly listed. The listing features a broad base of shareholders, opening the door to greater capital formation and increased investor participation.During the ESX trading floor ceremony, CEO Wolde Bulto highlighted the bank’s intention to utilize the listing to drive innovation and expand its tailored financial services. Board Chair Dr. Hassen Hussien stressed trust and corporate governance as key to the bank’s long-term strategy.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Gadaa Becomes Second Bank to List on Ethiopian Securities Exchange

Gadaa Becomes Second Bank to List on Ethiopian Securities Exchange

Global markets closed the week mixed, with U.S. indices extending a two-month rally while African exchanges posted selective corrections. On the BRVM, the Composite Index closed below 310 after dipping -0.9% Friday, yet remained above the symbolic 300-point threshold—a level not seen since 2016. Unilever Côte d’Ivoire soared +33.55%, topping weekly gainers, as Filtisac fell -23.75%. Despite Friday’s pullback, year-to-date BRVM returns remain strong across indices: BRVM 30 is up +11.24%, BRVM Distribution +10.44%, BRVM Prestige +14.24%, illustrating continued investor appetite.The Johannesburg Stock Exchange (JSE) posted modest declines, with the All Share Index down -0.11% on Friday but maintaining a 4-week gain of 1.2% and +13.99% YTD. Efora Energy (+33.3%) led gainers, while Visual International plunged -50%. Nigeria’s NGX All-Share Index fell -0.64% Friday, trimming some of its 7.52% 4-week gain, buoyed by MeCure (+9.91%) and dragged by Legend Internet (-9.98%). Meanwhile, the NSE in Kenya rose 1.71% Friday, supported by strong moves in Olympia Capital (+9.19%) and Sameer Africa (+8.95%).In developed markets, the S&amp;P 500 (+2.63%), Nasdaq (+3.98%), and Dow Jones (+3.50%) closed the week at record highs, defying seasonal “sell in May” patterns. Euro Stoxx 50 and FTSE 100 also rose modestly, while China’s SSE Composite posted a strong +2.25% gain amid improving sentiment.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Stocks Rally Globally as BRVM Holds Key Milestone

Daba Intelligence

Stocks Rally Globally as BRVM Holds Key Milestone

Lesaka Technologies has agreed to acquire 100% of Bank Zero in a deal valued at R1.1 billion ($61.4 million), comprising R1 billion ($56.3 million) in Lesaka shares and up to R91 million ($5.1 million) in cash. The deal, pending regulatory approval, gives Lesaka a 100% stake in the zero-fee digital bank and marks a shift from fintech to fully licensed digital banking.The agreement assumes a Lesaka share price of R88.26 ($4.97). If the share price rises before completion, the cash portion will increase, and the equity portion will adjust to keep the total value fixed.Bank Zero, launched in 2021 by former First National Bank executives Michael Jordaan and Yatin Narsai, has over R400 million ($22 million) in deposits and more than 40,000 funded accounts as of April 2025. Lesaka expects the neobank to be profitable in its first year post-acquisition.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Lesaka to Acquire South Africa's Bank Zero in $61M Deal

Lesaka to Acquire South Africa's Bank Zero in $61M Deal

Zambian artificial intelligence startup Caantin is raising $4 million to expand its AI-powered voice infrastructure and scale beyond Africa. The company, which automates customer support operations for banks and fintechs using AI voice agents, claims to be nearing $1 million in monthly revenue and is targeting $10 million in ARR by the end of 2025.This funding round comes just six months after Caantin pivoted from its previous focus on data analytics to voice-based automation, its fourth major shift since launching in the hospitality sector. The startup can currently process over one million calls daily, serving clients like Fairmoney and Carbon. Carbon CEO Chijioke Dozie is also an investor.Caantin charges a usage-based rate—₦185 (12 cents) per minute in Nigeria and 4 ZAR (2 cents) per second in South Africa—positioning itself as a telecom-layer SaaS business for financial institutions. These institutions make up a major share of Africa’s largest companies and typically maintain costly, manual customer support operations.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Zambia's Caantin is Raising $4M to Scale AI Voice Infrastructure

Zambia's Caantin is Raising $4M to Scale AI Voice Infrastructure

Ethiopia’s central bank has officially opened the country’s banking sector to foreign participation, marking a historic shift in policy after five decades of financial protectionism. The new directive, issued by the National Bank of Ethiopia (NBE) on June 25, enables foreign banks and investors to apply for licences to operate subsidiaries, open branches, or acquire stakes in local banks.The move follows the December 2024 ratification of a new banking law and is part of Ethiopia’s broader economic liberalisation agenda. The NBE will now allow up to five foreign bank licences over the next five years. Individual foreign ownership in local banks is capped at 30%, with total foreign ownership limited to 40%.This is the first time Ethiopia has formally opened its financial system since nationalizing it under the Derg regime in 1974. The country, home to over 128 million people and the largest economy in East Africa by GDP, has long had one of the most closed banking sectors on the continent.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Ethiopia Opens Up to Foreign Banks for First Time in 50 Years

Ethiopia Opens Up to Foreign Banks for First Time in 50 Years

UK-based crypto platform Luno has officially resumed operations in Kenya, nearly a decade after its exit under the name BitX in 2014. The relaunch reflects renewed optimism in Kenya’s maturing crypto regulatory environment, as lawmakers advance the Virtual Asset Service Providers (VASP) Bill.Luno now offers live crypto trading in the Kenyan Shilling, with trading pairs including BTC/KES, ETH/KES, USDT/KES, and USDC/KES. Users can also trade global pairs like BTC/USDT. The platform is targeting both retail and institutional users with tools, educational resources, and referral incentives.“We’re excited to officially relaunch with a full suite of crypto trading services tailored for the Kenyan market,” said Apollo Sande, Luno Kenya country manager.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Crypto Platform Luno Relaunches in Kenya After 10-Year Hiatus

Crypto Platform Luno Relaunches in Kenya After 10-Year Hiatus

Starlink has reopened new user sign-ups in Nairobi and across Kenya after halting activations for over seven months due to network congestion. The freeze, which began in late 2024, affected major areas like Kiambu, Machakos, and Kajiado. Multiple customers confirmed successful activations in June, with Starlink’s coverage map now showing full availability.The pause followed a surge in demand that overwhelmed local capacity, leading to slower speeds and service interruptions. A new ground station in Nairobi, launched in January 2025, has helped ease congestion, although demand continues to pressure the network in urban zones.Despite regulatory friction—Kenya plans to hike satellite licence fees by 837% and add a 0.4% turnover levy—Starlink’s service remains vital, particularly in remote and peri-urban areas lacking fibre coverage. The KES 30,000 ($232) hardware cost and KES 6,500 ($50) monthly fee have not stopped adoption among homes, schools, and businesses.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Starlink Resumes New Activations in Kenya After 7-Month Freeze

Starlink Resumes New Activations in Kenya After 7-Month Freeze

Ivorian banking group Nsia Banque has announced plans to launch several securitization transactions in 2025 across its West African markets, including Côte d’Ivoire, Benin, Guinea, Senegal, and Togo. The goal is to expand financing for small and medium-sized enterprises (SMEs) by unlocking long-term capital through structured receivables securitization.“We are entering 2025 with a renewed ambition to deploy a series of receivables securitization operations consistent with our strategy of financing the real economy,” said Léonce Yacé, deputy general manager of the NSIA group.The initiative builds on a 2020 pilot in Côte d’Ivoire, where NSIA Banque (<a href="https://dabafinance.com/en/capitalmarkets/NSBC" rel="noopener noreferrer" target="_blank">BRVM: NSBC</a>) executed a 40 billion CFA francs ($70 million) transaction, proving the model’s viability. The group now aims to scale the approach across its subsidiaries to mobilize capital for SME credit while maintaining regulatory balance sheet ratios.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/NSIA Plans Securitization Deals Across WAEMU to Boost SME Lending

NSIA Plans Securitization Deals Across WAEMU to Boost SME Lending

The Central Depository/Settlement Bank (DC/BR), which operates settlement for the West African Economic and Monetary Union (WAEMU) stock market BRVM, is evaluating a shift from the current T+3 securities settlement cycle to T+0, or same-day settlement. This would mark a major overhaul for the region’s financial infrastructure.The reform would allow investors to access cash or securities immediately after a trade, boosting liquidity and reducing counterparty risk. However, it would also require major upgrades to infrastructure, real-time payment systems, and coordination between banks, brokers, and custodians."What we gain in speed, we must also guarantee in security," notes a market professional based in Abidjan, quoted by Ecofin Agency, reflecting the balance WAEMU must strike between ambition and practicality.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/BRVM Considers Switch to Real-Time Settlement in Major Market Reform

BRVM Considers Switch to Real-Time Settlement in Major Market Reform

Bereket Engida, a self-taught Ethiopian developer, has raised $5 million in seed funding for Better Auth, an open-source authentication tool that’s gaining rapid traction among developers, particularly in the AI startup space. Investors in the round include Peak XV (formerly Sequoia India &amp; SEA), Y Combinator, P1 Ventures, and Chapter One.What makes Better Auth stand out isn’t just its backers—it’s that Engida built the tool entirely from Ethiopia before ever setting foot in the U.S. He created the project in response to repeated frustrations with rigid, hosted authentication platforms like Auth0, Firebase, and NextAuth. His tool enables developers to integrate authentication directly into their codebase, manage permissions and roles, and keep user data on-premise.Since its launch on GitHub in September 2024, Better Auth has garnered over 150,000 weekly downloads, 15,000 GitHub stars, and a growing community of more than 6,000 members on Discord.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Ethiopian Founder Raises $5M for Open Source Authentication Tool

TechCrunch

Ethiopian Founder Raises $5M for Open Source Authentication Tool

BAS Group, a Nigerian investment firm with interests in healthcare, finance, and micro-insurance, has acquired a majority stake in Lagos-based Zuvy Technologies in an all-cash deal. The transaction, which gives BAS over 50% ownership and full operational control, sees all institutional investors bought out. Co-founders Angel Onuoha and Ahmad Shehu will retain minority stakes but are no longer involved in operations.Zuvy, founded in 2021, provides short-term credit to SMEs through invoice discounting. It enables vendors supplying major corporations like Dangote and Rite Foods to get early payment on verified invoices. BAS views this as a strategic addition to its SME lending portfolio, allowing it to serve businesses without requiring traditional collateral.The acquisition complements BAS’s existing products under its finance arm, including payroll loans, car-backed loans, and collateralised SME lending. Zuvy’s platform will be integrated into BAS Finance Company and layered with other services like micro-insurance and health coverage to serve small businesses more holistically.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Nigeria’s BAS Group Acquires Fintech Zuvy to Expand SME Credit

Nigeria’s BAS Group Acquires Fintech Zuvy to Expand SME Credit

Aria Ventures, a specialised venture studio, has launched a new EGP 50 million ($1.7 million) fund to support startups in Egypt’s deep-technology sector through 2026. The initiative targets companies transforming scientific and technical research into market-ready innovations. The firm plans to scale the fund to EGP 200 million ($6.8 million) over the next four years.Aria Ventures will invest in early-stage companies across sectors including AI, machine learning, robotics, biotechnology, nanotechnology, IoT, industrial automation, and more. The studio operates by co-building startups from idea validation to growth, offering capital, technical infrastructure, and hands-on operational support.Alongside this investment, Aria launched the DeepTecher competition to discover and support promising research-driven technologies. The competition offers mentorship, funding opportunities, and strategic guidance to help innovators commercialise their solutions.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Aria Launches $1.7M Initiative to Back Deeptech Startups in Egypt

Aria Launches $1.7M Initiative to Back Deeptech Startups in Egypt

Nowlun, a digital freight platform simplifying full container load (FCL) and bulk cargo shipping, has closed its $2.3 million seed round with a $600,000 extension led by Ingressive Capital. The extension builds on earlier funding led by Nama Ventures and A15, with participation from Sanabil 500 Global and angel investors.The Egypt-based startup will use the new capital to accelerate the integration of AI into its logistics operations. Nowlun aims to build a smart Logistics Assistant for ocean freight shippers across MENA and Africa, delivering instant insights to simplify shipping decisions, reduce costs, and increase operational efficiency.Nowlun previously used its initial round to expand into the Saudi market and launch its Bulk product, which gives real-time access to sea freight rates. With AI now central to its strategy, the company plans to scale its team’s capacity and offer smarter freight services across key trade corridors.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Egypt’s Nowlun Gets $2.3M to Build Freight Assistant for MENA, Africa

Egypt’s Nowlun Gets $2.3M to Build Freight Assistant for MENA, Africa

EFG Holding has launched trading of its fintech arm, Valu, on the Egyptian Exchange (EGX), marking a first for Egypt’s consumer finance sector. The listing was executed through an innovative in-kind dividend distribution. On June 12, EFG distributed 20.488% of Valu’s share capital to its shareholders, funded by EGP 335.3 million from retained earnings. Shareholders received one Valu share for every 3.3273 EFG shares held.Valu debuted with Amazon acquiring a 3.95% direct stake at EGP 6.041 per share. EFG Finance Holding retains 67% ownership post-listing. The transaction was approved and facilitated by Egypt’s Financial Regulatory Authority (FRA), which praised the structure as a model for expanding public ownership without traditional IPOs.Valu processed 9.2 million transactions by Q1 2025, becoming the largest consumer finance platform in Egypt after major card networks. It holds 25% market share and posted a net profit of EGP 423 million in 2024—a 78% YoY increase. The company reported a 146% CAGR in gross revenue from 2019 to 2024.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Valu Begins Trading on EGX Through Innovative In-Kind Dividend Listing

Valu Begins Trading on EGX Through Innovative In-Kind Dividend Listing

Gabon has suspended all new tax exemptions for three months, following revelations that such incentives led to a cumulative revenue shortfall of over 1,000 billion CFA francs ($1.76 billion) between 2022 and 2025. The announcement was made by President Brice Clotaire Oligui Nguema during the Council of Ministers meeting on June 20, 2025.According to the presidency, domestic tax exemptions accounted for 682.67 billion CFA francs ($1.2 billion) in lost revenue, while export tax incentives caused a 376.55 billion CFA francs ($660 million) shortfall.The temporary freeze will be accompanied by a full audit to assess the effectiveness and relevance of existing exemptions. The government also plans to revise eligibility criteria to better align with national development priorities and ensure transparency and measurable impact.Until now, Gabon’s General Tax Code allowed wide-ranging exemptions across sectors including tourism, housing, industry, and agriculture. These included multi-year corporate tax holidays, reduced VAT, and free land deed registration. But weak oversight and insufficient economic returns have prompted a rethink of policy.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Gabon Suspends New Tax Exemptions Amid Revenue Shortfall, Reform Push

Sika Finance

Gabon Suspends New Tax Exemptions Amid Revenue Shortfall, Reform Push

The Democratic Republic of Congo (DRC) is once again facing arbitration proceedings from Australian mining company AVZ Minerals, after talks broke down over the Manono lithium project. AVZ had temporarily suspended its legal claim in May 2025 at the request of the U.S. government, but resumed the case on June 18 before the International Centre for Settlement of Investment Disputes (ICSID).The dispute centers on the revocation of AVZ’s permit in 2023 by Congo’s Ministry of Mines, which cited project delays. The rights were reassigned to a subsidiary of China’s Zijin Mining, triggering legal action by AVZ. The revived case could complicate a separate deal between AVZ and U.S.-backed KoBold Metals.KoBold, supported by Breakthrough Energy Ventures, announced a framework agreement in May to acquire AVZ’s stake in the southern section of Manono. The deal, potentially worth over $1 billion, targets one of the world’s largest hard-rock lithium deposits, estimated at 842 million tonnes at 1.61% grade. KoBold plans to export lithium to Western markets using AI-powered mineral exploration. But AVZ’s return to arbitration may now stall implementation of the agreement.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/DRC Faces Fresh Legal Battle With AVZ Over Lithium Site

DRC Faces Fresh Legal Battle With AVZ Over Lithium Site

The West African regional stock exchange, BRVM, reached a historic milestone last Friday, hitting a market capitalization of 12,070 billion CFA francs ($21.2 billion), marking its highest valuation to date. The increase of 2,000 billion CFA francs ($3.5 billion) over six months reflects rising investor confidence, new listings, and growing regional economic activity.Since the start of 2024, the BRVM Composite Index has climbed 13.4%, while the exchange’s overall capitalization has grown nearly 20% since December 2023. Over the past five years, the BRVM has surged by over 170%, with significant gains in 2021, 2022, and 2024.The total value of listed stocks and bonds now exceeds 22,516 billion CFA francs ($39.5 billion), or around 17% of the WAEMU region’s GDP, demonstrating the increasing role of the BRVM in regional capital formation.The average market Price-to-Earnings Ratio (PER) stands at 12.17, a level considered attractive for an emerging market, indicating confidence in listed firms’ value-creation potential. The exchange maintains its position as the fifth-largest in Africa, behind Johannesburg, Cairo, Lagos, and Casablanca.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/BRVM Adds $3.5B to Stock Market Capitalization in Six Months

BRVM Adds $3.5B to Stock Market Capitalization in Six Months

Somalia officially launched its first securities exchange, the National Securities Exchange of Somalia (NSES), in Mogadishu. The exchange is expected to begin trading early next year, targeting key sectors such as telecoms, banking, real estate, and energy to support long-term economic growth.NSES will initially operate as a private, self-regulatory organization, working in partnership with public institutions to ensure market transparency and integrity. Yasin M. Ibar has been named as its first CEO and spokesperson.The platform will provide capital-raising opportunities for Somali companies and offer domestic and international investors structured access to the Somali economy. The exchange also plans to issue government-backed, Sharia-compliant Sukuk to finance infrastructure and development projects.As part of its rollout, NSES will conduct investor education programs and roadshows targeting Somali diaspora communities in the United States, the United Kingdom, Turkey, Norway, and Kenya. The Central Bank of Somalia pledged technical support and policy coordination to back the initiative.NSES is now a member of the East African Stock Exchanges Association and aims to facilitate cross-listings with bourses in Kenya, Uganda, Rwanda, and Tanzania.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Trading on First Somali National Stock Exchange to Start Next Year

Trading on First Somali National Stock Exchange to Start Next Year

Wafa Assurance (BVC:WAA), one of Morocco’s largest insurers, has filed a public acquisition offer (PAO) to acquire a 51% stake in Egypt-based Delta Insurance (EGX:DEIN). The offer, filed on June 10 with Egypt’s Financial Regulatory Authority, is priced at EGP40 per share, valuing Delta at EGP5 billion ($317 million).Delta’s majority shareholder, Egypt Kuwait Holding (EKH), which owns 63.39% of the company, has agreed to sell its entire stake. The acquisition is subject to regulatory approvals in Egypt and Morocco.Wafa Assurance, which entered Egypt’s life insurance market in 2021, is looking to expand its operations in the region through this transaction. The Moroccan firm reportedly outbid AXA for the deal, reflecting strong competition for access to Egypt’s underpenetrated insurance sector.Egypt, home to over 120 million people, has an insurance penetration of just 1%. In 2023, it accounted for 4% of Africa’s total insurance premiums, highlighting its strategic potential for regional and international players seeking scale in North Africa’s largest market.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Morocco’s Wafa Launches $317M Bid for Egypt’s Delta Insurance

Morocco’s Wafa Launches $317M Bid for Egypt’s Delta Insurance

BNY Mellon, in collaboration with Standard Bank Group, has launched Global Depositary Notes (GDNs) backed by Nigerian sovereign debt denominated in naira. The initiative was confirmed by the Central Bank of Nigeria on Thursday following a Bloomberg report.The program allows international investors to access high-yielding Nigerian government bonds and Treasury bills through GDNs that will be eligible for settlement in Euroclear and Clearstream. This opens Nigeria’s local debt market to a broader pool of institutional investors by overcoming clearing and custody barriers.Nigeria offers some of the highest yields in emerging markets. As of June 2025, 182-day Treasury bills yielded 18.5%, while the 2033 benchmark bond was trading at 19.33%.GDNs will be issued under Regulation S and Rule 144A formats, offering flexibility to global investors. BNY Mellon will provide global infrastructure support, while Standard Bank leverages its local market expertise.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/BNY, Standard Bank Launch Global Depositary Notes for Nigerian Debt

BNY, Standard Bank Launch Global Depositary Notes for Nigerian Debt

Malawi’s headline inflation eased to 27.7% in May 2025, down from 29.2% in April, according to the National Statistical Office’s latest Consumer Price Index report. The decline was driven by falling food inflation, which dropped to 32.7% from 35.8%. Non-food inflation, however, edged up to 20% from 19.4%. Month-to-month, national inflation stood at 0.6%, with food inflation at 0.2% and non-food at 1.2%.Urban inflation remained stable at 0.6%, while rural inflation came in slightly lower at 0.5%. The data show slower food price growth across both settings, with rural areas seeing a month-to-month food inflation rate of just 0.1%.The Consumer Association of Malawi welcomed the development. Executive Director John Kapito linked the decline to falling maize prices, noting the easing of pressure on household budgets. Retail maize prices fell to K928/kg in May, down from earlier highs, though still 57% higher year-on-year. Economist Velli Nyirongo said improved food supply is helping control inflation, but warned that non-food prices remain high due to forex shortages and operating costs. While current trends are encouraging, especially for food affordability, broader macroeconomic stability depends on improving forex liquidity, reducing import dependency, and supporting domestic production beyond agriculture.If inflation moderation continues in the second half of the year, the Reserve Bank of Malawi may find room to adjust policy rates, but fiscal and currency risks remain central to long-term inflation control.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Lower Food Prices Help Malawi Inflation Fall to 27.7% in May

Lower Food Prices Help Malawi Inflation Fall to 27.7% in May

Fitch Ratings has upgraded Ghana’s Long-Term Foreign-Currency Issuer Default Rating (IDR) from ‘Restricted Default’ to ‘B-’ with a Stable Outlook. The upgrade follows the successful restructuring of $13.1 billion in Eurobond debt and progress on remaining external debt talks. Fitch expects the full restructuring process to conclude by end-2025.The credit rating agency cited improving macroeconomic conditions, including a drop in inflation from 23% in 2024 to 18.4% in May 2025—its lowest level in over three years. Inflation is forecast to average 15% this year and fall to 10% in 2026. The Ghanaian cedi has also strengthened, reversing years of depreciation.Fitch noted increased investor confidence, tighter fiscal discipline, and exchange rate stability. The Finance Ministry projects a primary fiscal surplus of 0.5% of GDP in 2025 and a decline in the debt-to-GDP ratio to 60%, down from 93% in 2022. Gross reserves reached $6.8 billion, and interest payments now consume 25% of revenue, down from 48% in 2021.Officials say the upgrade signals a return to global financial credibility. The government expects the move to support access to capital markets and attract foreign investment.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Fitch Lifts Ghana’s Credit Rating on Eurobond Deal, Cooling Inflation

Fitch Lifts Ghana’s Credit Rating on Eurobond Deal, Cooling Inflation

The Nigerien government has announced the full nationalization of the Niger Electricity Company (NIGELEC), ending its status as a mixed-ownership firm. The decision, confirmed at the June 19 Council of Ministers meeting, transfers all capital and assets to the state and dissolves NIGELEC’s Board of Directors. Minority shareholders will be compensated.NIGELEC, previously over 99% state-owned with minor stakes held by local banks, cities, and staff, had a capital base of over 76 billion FCFA. Despite this, the company struggled with structural deficits and weak operational performance. Overspending and lax internal controls contributed to persistent financial fragility.The government aims to regain strategic control of the electricity sector, which is considered vital to national development. Officials say the nationalization will allow for more coherent energy policy direction and effective oversight.NIGELEC had previously undergone several reforms and privatization efforts without lasting results. This new phase is intended to restructure governance, eliminate inefficiencies, and establish a more sustainable foundation for electricity production and distribution in Niger.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Niger Republic Moves to Nationalize Power Utility NIGELEC

Niger Republic Moves to Nationalize Power Utility NIGELEC

The Central African Economic and Monetary Community (CEMAC) saw GDP grow by 3% in 2024, led by Cameroon and Chad. But growth is expected to slow to 2.4% in 2025 due to declining oil prices and weaker global trade. GDP per capita rose by only 0.2%, highlighting non-inclusive growth.The regional budget deficit widened to -1.5% of GDP, with spending outpacing revenue and continued reliance on oil exports. Congo and Gabon exceeded debt sustainability thresholds. Weak tax revenue—below 15% of GDP—limits basic service financing.Investor confidence in the regional bond market declined sharply. Subscription rates for government securities dropped to 43.5% in October 2024, down from 80.4% in 2023. The coverage rate on public securities fell to 60.3% by February 2025. Yields rose to 10%, reflecting heightened risk.Despite a current account surplus, trade remains concentrated in oil. A drop in oil prices to $60 per barrel in April 2025 is already hurting forecasts. Structural challenges include high poverty, informal employment, low education spending, and weak regional trade integration.The World Bank warns that without reforms in governance, tax systems, education, and competitiveness, CEMAC risks prolonged stagnation in a vulnerable, extractive economic model.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Central Africa Faces Slowing Growth, Budget Strain, and Rising Risk

Central Africa Faces Slowing Growth, Budget Strain, and Rising Risk

YC-backed Nigerian delivery platform Chowdeck has acquired Mira, a point-of-sale (POS) startup founded in 2023 by former Flutterwave and Paystack executives. The acquisition brings Mira’s inventory, invoicing, and payment tools into Chowdeck’s ecosystem, enabling deeper integration with merchant operations across restaurants, supermarkets, and pharmacies.Terms of the deal were not disclosed. However, the transaction brings Mira investors such as Microtraction onto Chowdeck’s cap table, alongside existing backer HoaQ. Mira CEO Ted Oladele will join Chowdeck as Head of Product, while co-founder Olaseike Ibojo takes a career break.Chowdeck, launched in 2021, now operates in Nigeria and Ghana. It aims to complete 1,000 deliveries in Accra within two months, a milestone that took a year in Nigeria. The company is shifting focus from customers to merchants, improving real-time inventory visibility and vendor support. The integration adds new revenue streams beyond delivery fees, including in-store transactions, POS services, and financing.The deal expands Chowdeck’s offering from logistics into financial services and merchant infrastructure, positioning it as a full-stack enabler for African retail businesses.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Chowdeck Acquires POS Startup Mira in Strategic Expansion Move

Chowdeck Acquires POS Startup Mira in Strategic Expansion Move

Nigerian B2B e-commerce startup Sabi has laid off around 50 employees, roughly 20% of its workforce, as it pivots from broad merchant services to focus on TRACE, its blockchain-powered traceability platform for minerals and agricultural commodities. The layoffs affect multiple departments and are part of a broader restructuring strategy, TechCabal reported.Founded in 2021, Sabi initially scaled to serve over 300,000 merchants, facilitating $1 billion+ in annualised GMV through logistics, financing, and digital tools. The startup raised $60 million, including a $38 million Series B in 2024 that valued it at $300 million.TRACE, built in partnership with Minespider, provides digital passports that track environmental, social, governance (ESG) metrics and certifications across the supply chain. The service targets global buyers seeking transparency and compliance in sourcing from Africa, especially in light of tightening international regulations on ethical minerals and agricultural trade.“We’re doubling down on the part of our business seeing the most demand,” Sabi said in a statement. “While tough, this shift positions us for long-term success and ensures we remain focused on building scalable, responsible supply chains.”<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Sabi Sacks 20% of Staff in Pivot to Traceable Commodity Supply Chains

Sabi Sacks 20% of Staff in Pivot to Traceable Commodity Supply Chains

Starlink, SpaceX’s satellite internet service, has launched in Lesotho and Guinea-Bissau, adding momentum to its African expansion and extending services to 24 countries on the continent. In Lesotho, the Lesotho Communications Authority (LCA) granted Starlink a 10-year Network Service License on April 14, 2025, following a year-long regulatory review. The move aligns with Lesotho’s digital inclusion agenda, aiming to expand high-speed connectivity to rural and underserved areas. The standard Starlink kit is priced at ZAR 7,400 ($410.80), with a monthly plan of ZAR 950 ($52.70). A lower-cost Minikit is available at ZAR 3,800 ($210.95).Meanwhile, in Guinea-Bissau, Starlink received full approval in April 2025 after securing a provisional license in December 2024. The launch was welcomed by the National Regulatory Authority (ARN-TIC) as a key step toward raising internet penetration, currently below 30%. The Standard Kit retails at FCFA 228,000 ($400), with monthly plans starting at FCFA 36,000 ($63). The Minikit is available for FCFA 117,000 ($205).<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Starlink Expands in Africa With Lesotho, Guinea-Bissau Rollout

Tech Africa News

Starlink Expands in Africa With Lesotho, Guinea-Bissau Rollout

Visa has partnered with Yellow Card, a leading pan-African stablecoin infrastructure company, to pilot stablecoin-powered cross-border payments across Central and Eastern Europe, the Middle East, and Africa (CEMEA). The collaboration will test integration with Visa Direct, enabling businesses to send stablecoin-backed transfers directly to users’ bank or card-linked accounts.The partnership allows businesses to hold U.S. dollars in stablecoins and settle payments across borders more efficiently, reducing cost, increasing speed, and making transfers available 24/7. The initiative is part of Visa’s broader strategy to modernize money movement infrastructure using digital assets.Sub-Saharan Africa is expected to be a key beneficiary. The region has witnessed consistent monthly stablecoin remittances exceeding $500 billion between 2022 and 2024. In Ethiopia, stablecoin-powered low-value transfers rose 180% year-on-year, while Nigeria ranks among the top markets for USDT usage on exchanges.“Traditional payment companies now ask not if they need a stablecoin strategy, but how fast they can deploy it,” said Chris Maurice, CEO of Yellow Card. Visa’s Godfrey Sullivan added that institutions moving money in 2025 “will need a stablecoin strategy,” and Visa aims to provide the tools to make that happen.<a href="https://dabafinance.com/en/app-link/referral?referralCode=g3aZQft43s" rel="noopener noreferrer" target="_blank">Daba is Africa's leading investment platform for private and public markets. Download here</a>

Daba Finance/Visa Partners Yellow Card to Expand Stablecoin Payments Across Africa

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