Ghana has announced plans to build three oil refineries and five petrochemical plants as part of a national strategy to reduce reliance on imported refined fuel and position itself as a regional energy hub. The projects were unveiled during the "Investing in African Energy: Accra Investor Briefing 2025" forum. Ghana currently operates two small-capacity refineries, Tema and Sentuo, with a combined limit of 90,000 barrels per day. The new refineries will each target a minimum of 300,000 barrels per day. A 20,000-acre site in Jomoro, Western Region, has been allocated for the development. The government will provide basic infrastructure to support investment. The project includes five petrochemical plants and a gas processing facility, to be managed by the new Petroleum Hub Development Corporation (PHDC).<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/Ghana Plans New Refineries, Petrochemical Plants to Cut Fuel Imports

Sika Finance

Ghana Plans New Refineries, Petrochemical Plants to Cut Fuel Imports

The International Monetary Fund has downgraded its 2025 global growth forecast to 2.8%, down 0.5 percentage points from January, citing increased trade tensions sparked by US tariff actions. Growth is expected to recover modestly to 3.0% in 2026.The forecast was released during the IMF and World Bank Spring Meetings in Washington. The IMF said its latest numbers exclude tariff increases announced after April 4, including new US levies on Chinese imports that now reach 145%. If sustained, those could further dampen growth.The US growth outlook for 2025 was cut to 1.8%, a 0.9-point downgrade, while inflation is expected to hit 3.0%. China’s growth forecast fell to 4.0%, down from 5.0%, and Mexico is now projected to contract by 0.3%. Growth in the eurozone was lowered to 0.8%. The IMF warned that policy uncertainty, trade disruptions, and inflationary pressures may weaken demand and increase global prices.<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/IMF Slashes Global Growth Outlook on Impact of Trump Tariffs

IMF Slashes Global Growth Outlook on Impact of Trump Tariffs

Sub-Saharan Africa’s economy is projected to grow by 3.8% in 2025, down from 4.0% in 2024, according to the IMF’s April 2025 World Economic Outlook. This reflects a modest recovery toward pre-pandemic levels despite ongoing global headwinds.Growth remains uneven across the region. Senegal is forecast to grow 8.4% in 2025, driven by energy sector developments. Guinea follows with 7.1%, supported by mining and infrastructure. Rwanda is also expected to grow 7.1%, maintaining its strong post-Covid momentum.Nigeria is projected to grow at 3.0% in 2025, and South Africa at 1.0%, both below the regional average. Côte d’Ivoire and Benin, two key WAEMU economies, are expected to grow 6.2% and 6.5% respectively. The IMF notes that inflation is likely to slow to 5.6% in 2025 across emerging economies, but risks remain from debt servicing costs, climate shocks, and global trade disruptions.<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/IMF Expects Sub-Saharan Africa GDP to Grow 3.8% in 2025

IMF Expects Sub-Saharan Africa GDP to Grow 3.8% in 2025

The BRVM stock market rebounded sharply, led by a 6.01% gain in <a href="https://www.dabafinance.com/en/capitalmarkets/ORAC" rel="noopener noreferrer" target="_blank">Orange</a>, which closed at 14,900 FCFA. The stock added 127.3 billion FCFA in market capitalization, helping lift all major indices. The BRVM-Composite rose 1.57% to 285.94 points, the BRVM-30 climbed 1.73% to 143.74 points, and the BRVM-Prestige advanced 1.51% to 121.33 points.<a href="https://www.dabafinance.com/en/capitalmarkets/UNLC" rel="noopener noreferrer" target="_blank">Unilever</a> jumped 7.48% to 9,560 FCFA, reaching its highest level since 2018. <a href="https://www.dabafinance.com/en/capitalmarkets/PALC" rel="noopener noreferrer" target="_blank">Palm</a> rose 7.05% to 6,150 FCFA, boosted by Q1 2025 results. <a href="https://www.dabafinance.com/en/capitalmarkets/SIVC" rel="noopener noreferrer" target="_blank">Air Liquide</a> gained 6.45% to 495 FCFA. In contrast, <a href="https://www.dabafinance.com/en/capitalmarkets/PRSC" rel="noopener noreferrer" target="_blank">Tractafric Motors</a> fell 5.96% to 1,815 FCFA. <a href="https://www.dabafinance.com/en/capitalmarkets/ABJC" rel="noopener noreferrer" target="_blank">Servair Abidjan</a> and <a href="https://www.dabafinance.com/en/capitalmarkets/TTLC" rel="noopener noreferrer" target="_blank">Total</a> dropped 3.65% and 2.78% respectively.Trading volume surged to 1.8 billion FCFA—nearly five times higher than Friday’s activity. Bank of Africa Senegal and Sonatel accounted for over 70% of trades, underscoring their role in market liquidity.<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/Unilever Share Price Hits 6-Year High Amid BRVM Stock Market Rebound

Unilever Share Price Hits 6-Year High Amid BRVM Stock Market Rebound

Bank of Africa Benin (<a href="https://www.dabafinance.com/en/capitalmarkets/BOAB" rel="noopener noreferrer" target="_blank">BRVM: BOAB</a>) posted a net profit of 19.65 billion FCFA ($34.1 million) for 2024, down 8.7% from 21.53 billion FCFA ($37.4 million) in 2023, according to financial statements released this month. Total assets grew 3.7% to 940.19 billion FCFA ($1.63 billion), while customer loans increased 1.8% to 408.40 billion FCFA ($709.4 million). Customer deposits surged 13.6% to 734.34 billion FCFA ($1.28 billion).The bank doubled its subscribed capital to 40.56 billion FCFA ($70.5 million) from 20.28 billion FCFA ($35.2 million) in 2023, strengthening its capital base. Net banking income declined 2.7% to 46.53 billion FCFA ($80.8 million). Operating result fell 6.8% to 21.46 billion FCFA ($37.3 million).Off-balance sheet financing commitments increased 23.2% to 28.78 billion FCFA ($50.0 million), while guarantee commitments decreased slightly to 53.29 billion FCFA ($92.6 million). The bank reported central bank holdings of 60.22 billion FCFA ($104.6 million), nearly triple the previous year's figure, suggesting improved liquidity position despite profit decline.<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/Bank of Africa Benin Reports 8.7% Drop in 2024 Net Profit

Daba Intelligence

Bank of Africa Benin Reports 8.7% Drop in 2024 Net Profit

Visa has made strategic investments in Tunisian fintech Konnect and Moroccan firm PayTic following their participation in the Africa Fintech Accelerator program. The move is part of Visa’s broader $1 billion commitment to financial inclusion in Africa by 2027.The two startups were part of the most recent cohort of the accelerator, which launched in 2023. Since its inception, the program has supported 64 startups across three groups. Earlier, four startups from the first cohort received funding from Visa.Konnect provides link-based payment options via SMS, email, or messaging apps, targeting simplified digital payments in Tunisia. PayTic offers digital tools for payment service providers to automate compliance, risk monitoring, and operational workflows.<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 Invests in Tunisia’s Konnect, Morocco’s PayTic After Accelerator

Disrupt Africa

Visa Invests in Tunisia’s Konnect, Morocco’s PayTic After Accelerator

UNICEF Ghana has opened applications for its StartUp Lab, a six-month accelerator programme aimed at supporting impact-focused Ghanaian startups working to advance the Sustainable Development Goals (SDGs) for children and young people.Launched in 2019 and implemented by MEST Africa, with support from the Korea International Cooperation Agency (KOICA), the programme offers participating startups access to technical mentorship, UN system networks, prototype funding, and expert guidance in areas like education, health, sanitation, social protection, and child welfare.The accelerator targets tech-enabled ventures with a measurable social impact, particularly those working on child-related issues in Ghana. Selected startups will receive structured mentorship, business support, and exposure to innovation experts from across the UNICEF and UN ecosystem. Applications are open until May 15, 2025.<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/UNICEF Opens Applications for Ghana StartUp Lab Accelerator

UNICEF Opens Applications for Ghana StartUp Lab Accelerator

Nigeria’s internet traffic hit an all-time high of 1 terabit per second (Tbps) in March 2024, according to the Internet Exchange Point of Nigeria (IXPN), reflecting growing video consumption and a shift toward local content delivery. Platforms like YouTube, TikTok, and Facebook fuel the surge, with IXPN now routing the bulk of domestic data.The milestone makes Nigeria Africa’s second-largest internet exchange hub after South Africa. IXPN CEO Muhammed Rudman said the record volume could support “1 million concurrent Zoom calls or 200,000 simultaneous video streams.” The traffic was nearly nonexistent in 2007 when IXPN began operating. Early peering with Google in 2011 triggered steady growth, which has since accelerated through direct connections with major content platforms and local infrastructure investments. Much of Nigeria’s data traffic—especially video—is now kept within national borders. This improves internet speeds, reduces latency, and significantly cuts costs for internet service providers and users alike.<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 Internet Traffic Hits Record Level on Video Boom

TechCabal

Nigeria’s Internet Traffic Hits Record Level on Video Boom

Safaricom is stepping up efforts to compete with satellite internet provider Starlink by expanding its 5G coverage into rural Kenya. Over the past six months, the telco has deployed dozens of new 5G sites across underserved regions, targeting price-sensitive users with low-cost routers, mobile payments, and flexible data plans.The push into low-ARPU (average revenue per user) zones marks a strategic pivot from Safaricom’s urban focus. Its 5G routers, now priced at KES 3,000 ($23) — down from KES 25,000 — are bundled with monthly plans starting at KES 4,000 for 50 Mbps. The plug-and-play devices fall back to 4G when needed and are sold door-to-door using M-PESA payments.This aggressive pricing directly challenges Starlink, whose standard kits cost upwards of KES 30,000 ($231). Starlink, which launched in Kenya in 2023, has seen rapid growth, particularly in remote counties. But its rigid pricing, lack of local distribution, and urban congestion issues have opened a lane for Safaricom’s more adaptable approach. Safaricom now has 1,114 5G sites across 102 towns and all 47 counties. It declined to disclose how many rural users are on the 5G routers.<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/Safaricom Expands Rural 5G to Counter Starlink’s Satellite Push

Safaricom Expands Rural 5G to Counter Starlink’s Satellite Push

Kenyan logistics startup Lori Systems raised $2 million in a bridge round at a $5 million valuation, sharply down from its 2020 peak of $120 million. The round, led by Delta40 and joined by Future Africa, FP Capital, and others, brings Lori’s total funding to over $46 million.The valuation drop reflects both sector-wide investor caution and Lori’s underperformance against earlier growth expectations. CEO Jean-Claude Homawoo says Lori is focused on profitability, a milestone he claims will unlock bank lending and long-term sustainability.Founded in 2016, Lori built a digital freight platform connecting cargo owners to transporters. But cashflow challenges, worsened by slow customer payments, strained its working capital. The company is now experimenting with a new financing model in which banks fund upfront trucking costs, removing liabilities from Lori’s balance sheet but reducing its margins. Lori now operates in Kenya, Nigeria, and Uganda.<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/Lori Systems Raises $2M at Deep Discount Amid Logistics Pivot

Lori Systems Raises $2M at Deep Discount Amid Logistics Pivot

Morocco-based digital identity startup VOVE ID has secured investment from The Baobab Network, a UK-based accelerator focused on early-stage African tech ventures. The funding, whose amount was not disclosed, will help VOVE ID scale its AI-powered Know Your Customer (KYC) platform across Africa and the Middle East.Founded in 2024 by Khalid Aoussar, Tarik, and Youssef, the company aims to simplify identity verification for businesses by enabling users to verify once, use everywhere, offering digital identity portability across platforms. Its tools include biometric authentication, document validation, and automated compliance checks, catering to startups and SMEs typically priced out of enterprise-grade regtech.The capital injection will support product development, regional expansion, and hiring. VOVE ID joins The Baobab Network’s accelerator programme, gaining access to mentorship and investor networks to navigate regulatory hurdles and deepen market penetration.<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/Moroccan Regtech Startup VOVE ID Secures Investment to Fuel Expansion

Wamda

Moroccan Regtech Startup VOVE ID Secures Investment to Fuel Expansion

Institutional investors are reallocating capital as global recession fears rise, driven by concerns over former U.S. President Donald Trump’s evolving trade policy. Bank of America’s April 2025 Fund Manager Survey found that 82% of global fund managers expect weaker economic growth this year — the highest pessimism in over three decades.Gold emerged as the top asset class, with 42% of respondents naming it the best-performing asset in 2025, up from 23% in March. It has returned 25% so far this year. The SPDR Gold Shares ETF (GLD) surpassed $100 billion in AUM, and gold prices recently breached $3,300/oz. Expectations of U.S. dollar depreciation are also driving gold demand, with a net 61% of managers predicting a weaker dollar, the highest since 2006.Managers have reduced equity exposure, becoming the most underweight in global stocks since July 2023. The once-favored tech sector saw allocations fall to their lowest since November 2022, while investors increased holdings in cash (now at 4.8%), fixed income, utilities, healthcare, and staples. Funds like FLCO, VHT, IDU, and FTSA are seeing inflows as managers rotate into more defensive positions.<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 Rises as Investors Bet on Bullion Amid Trade Volatility

Business Insider

Gold Prices Rise as Investors Bet on Bullion Amid Trade Volatility

West Africa’s WAEMU region posted stronger labor market figures in Q4 2024 as employment rebounded in urban areas, according to new data from the Central Bank of West African States (BCEAO). The employment rate rose to 53.8%, up from 51.3% in the previous quarter, marking a 2.5 percentage point increase.Meanwhile, the unemployment rate declined from 13.7% to 11.6%, as more working-age individuals secured jobs in both formal and informal sectors across the union’s eight member states. The drop was more pronounced for women, whose jobless rate fell by 2.8 points to 14.6%, compared to a 1.2-point drop for men.Youth unemployment also declined significantly, with the rate for 15–24 year-olds falling 6.6 points to 20.6%, suggesting seasonal job recovery and targeted policy impact. However, rural unemployment remains underreported in the data, which is limited to urban centers.<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/WAEMU Unemployment Falls to 11.6% as Urban Job Market Strengthens

WAEMU Unemployment Falls to 11.6% as Urban Job Market Strengthens

Fitch Ratings has revised the outlook for the West African Development Bank (BOAD) from negative to stable while maintaining its long-term issuer rating at BBB. The revision reflects improved credit performance among member states and ongoing efforts to diversify funding sources.The move follows debt repayments by Niger and Guinea-Bissau. Niger cleared arrears in February 2024 after ECOWAS lifted sanctions, while Guinea-Bissau reached a new debt agreement with the bank. As of end-2024, only 2.5% of BOAD’s loan portfolio was in distress, with none involving sovereigns. This led Fitch to downgrade the risk level of BOAD’s loan book from high to moderate.BOAD raised $500 million in 2025 via a hybrid bond to boost capital without diluting governance. It has also expanded use of securitization and credit insurance to de-risk its loan portfolio. The bank holds more than 30% of its assets in equity and maintains a strong liquidity position.<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 Revises West African Development Bank's Outlook to Stable

Fitch Revises West African Development Bank's Outlook to Stable

Onatel SA shares dropped 6.47% to 2,600 FCFA ($4.52) on the BRVM last week, despite reporting positive annual results for 2024. The decline came amid broader market weakness, with the BRVM Composite index falling 3.19% to 281.52 points.The company was among the BRVM's five biggest weekly losers, positioning it between Air Liquide (-6.06%) and BOA Burkina (-7.09%). Telecom stocks faced pressure across the regional exchange, with Orange Côte d'Ivoire recording the market's largest decline at 10.73%.The broader BRVM 30 index, which tracks the exchange's largest companies, fell 3.69% to 141.29 points last week, with 20 stocks declining versus 25 advancing.<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 Indexes Close Week Negative On Orange, Onatel Slump

BRVM Indexes Close Week Negative On Orange, Onatel Slump

Onatel SA (<a href="https://www.dabafinance.com/en/capitalmarkets/ONTBF" rel="noopener noreferrer" target="_blank">BRVM: ONTBF</a>), Burkina Faso's main telecom operator, reported a 1.9% revenue increase to 141.8 billion XOF ($246.3 million) for FY2024, according to results published on the BRVM stock exchange. Net profit rose 1.6% to 21.5 billion XOF ($37.3 million) under OHADA standards and 2.3% to 20.6 billion XOF ($35.8 million) under IFRS norms, despite energy cost increases and expenses to repair vandalized infrastructure.The company's customer base grew 4% to over 12 million users, driven by mobile internet (+6.3%), fiber optic services (+155.5%), and mobile money (+16.9%). Mobile money transaction volume increased 31.8%. Onatel maintained high profitability with a 46.8% EBITDA margin despite exceptional costs impacting performance indicators.The board will propose a gross dividend of 216.61 XOF ($0.38) per share for its 68 million shares, payable from July 21, 2025. The company plans continued investment in 2025 to strengthen network performance, improve service quality, and streamline customer experience while optimizing costs to increase profitability. Onatel is 61% owned by Maroc Telecom Group, with the Burkina Faso government holding 16%.<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/Burkina Telco Onatel To Pay Dividends Despite Marginal Profit Growth

Burkina Telco Onatel To Pay Dividends Despite Marginal Profit Growth

Palm Cote d'Ivoire (<a href="https://www.dabafinance.com/en/capitalmarkets/PALC" rel="noopener noreferrer" target="_blank">BRVM: PALC</a>) closed 2024 with revenue of 172.18 billion CFA francs ($299.1 million), down from 206.24 billion CFA francs ($358.3 million) in 2023. Net profit decreased to 15.86 billion CFA francs ($27.6 million) from 19.35 billion CFA francs ($33.6 million) the previous year. Operating income fell to 21.92 billion CFA francs ($38.1 million) from 28.88 billion CFA francs ($50.2 million). Cash flow from operations improved significantly to 28.46 billion CFA francs ($49.4 million), compared to 3.01 billion CFA francs ($5.2 million) in 2023. Capital expenditures included 20.00 billion CFA francs ($34.7 million) for tangible assets and 56.64 million CFA francs ($98,400) for financial investments.The company paid dividends of 9.68 billion CFA francs ($16.8 million), less than the 20.85 billion CFA francs ($36.2 million) distributed in 2023. PALMCI's board has proposed a gross dividend of 513 CFA francs ($0.89) per share for shareholder approval at the upcoming general meeting.<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/Palm Cote d'Ivoire Full-Year Revenue, Net Income Dip

Palm Cote d'Ivoire Full-Year Revenue, Net Income Dip

PalmCI (<a href="https://www.dabafinance.com/en/capitalmarkets/PALC" rel="noopener noreferrer" target="_blank">BRVM: PALC</a>), an Ivory Coast-based palm oil producer, posted revenue of 67.52 billion CFA francs ($117.3 million) for the first quarter of 2025, a 32% increase from 51 billion CFA francs ($88.6 million) in the same period last year.Net profit rose 65% to 11.56 billion CFA francs ($20.1 million), compared to 6.99 billion CFA francs ($12.1 million) in Q1 2024. The strong performance stems from higher crude palm oil prices, which increased 20%, and sales volumes, which grew 7%. For palm kernel oil, sales volumes decreased 9% due to high inventories at the end of 2023, but prices surged 92%.Operating income reached 15.42 billion CFA francs ($26.8 million), up 66% from 9.28 billion CFA francs ($16.1 million) in the previous year. The company, which has capital of 20.4 billion CFA francs ($35.4 million) and is headquartered in Abidjan, forecasts that 2025 net profit will exceed 2024 results if current sales prices hold steady.<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/Ivorian Oil Producer PalmCI Reports 32% Revenue Growth in Q1 2025

Ivorian Oil Producer PalmCI Reports 32% Revenue Growth in Q1 2025

Sonatel Group (<a href="https://www.dabafinance.com/en/capitalmarkets/SNTS" rel="noopener noreferrer" target="_blank">BRVM: SNTS</a>) reported 10.9% revenue growth in Q1 2025, reaching 471.6 billion CFA francs ($819.2 million). The West African telecommunications company saw EBITDAAL (earnings before interest, taxes, depreciation, amortization, after leases) rise 14.4% to 221.1 billion CFA francs ($384.1 million).Net profit increased 14.9% to 108.4 billion CFA francs ($188.3 million), representing 23% of revenue. The company's mobile customer base grew 3.4% year-over-year to 42.1 million subscribers. Mobile data users reached 21 million, with 4G users at 19.1 million. Orange Money active users increased 8.7% to 12.9 million.Fixed broadband customers totaled 958,000, including 489,400 fiber subscribers. Capital expenditure stood at 75.2 billion CFA francs ($130.6 million), or 15.9% of revenue.<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-Listed Sonatel Sees Double-Digit First-Quarter Revenue Growth

BRVM-Listed Sonatel Crosses 100B FCFA Profit Mark in First Quarter

Société Nationale des Télécommunications du Sénégal (Sonatel) will pay an annual dividend of 1,655 FCFA ($2.80) per share for fiscal year 2024 on May 22, 2025, it said in a statement on the BRVM.Sonatel shares (<a href="https://www.dabafinance.com/en/capitalmarkets/SNTS" rel="noopener noreferrer" target="_blank">BRVM: SNTS</a>) will trade ex-dividend starting Tuesday, May 20, 2025. The register closing date is set for Thursday, May 22, 2025. All pending stock exchange orders in the trading system on this date will be canceled. The company provides mobile, internet, television, mobile money, broadband, orange money and data sectors for individual and business use. It also provides mobile services, which consist of voice, data, access and VPN.<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/Telco Giant Sonatel Senegal Set to Pay Dividends May 22

Telco Giant Sonatel Senegal Set to Pay Dividends May 22

South African fintech Peach Payments has partnered with local buy now, pay later (BNPL) platform Happy Pay to offer merchants interest-free instalment options at checkout. The move adds flexible, zero-deposit BNPL capabilities to Peach Payments’ growing toolkit for online businesses.Founded in 2012, Peach Payments enables businesses to accept, manage, and disburse payments across web and mobile. The startup recently raised $31 million in funding and expanded regionally with the acquisition of Senegal-based PayDunya.Happy Pay, South Africa’s only zero-deposit BNPL provider, lets shoppers split payments with no upfront cost, interest, or fees. The company uses affordability-based approvals to maintain responsible lending practices. The integration allows Peach Payments merchants to increase customer purchasing power and drive higher conversion rates and average order values. <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/Peach Payments Partners with Happy Pay to Offer Zero-Deposit BNPL

Peach Payments Partners with Happy Pay to Offer Zero-Deposit BNPL

Tanzanian startup Ramani has entered into a strategic partnership with Tanzania Commercial Bank (TCB) to scale its supply chain financing platform for small and medium-sized businesses (SMBs). This follows a prior capital partnership with Stanbic Bank.Founded in 2023 and backed by Y Combinator, Ramani operates a national-scale financial marketplace that digitizes the lending process, covering origination, underwriting, monitoring, and collections. The platform enables micro-distribution centres (MDCs) working with major FMCG brands like Coca-Cola, Diageo, and AbinBev to access working capital.TCB’s participation adds further liquidity to the platform, allowing SMBs access to a broader range of financing products, lower costs, and more flexible repayment terms. Ramani reports over $210 million in cumulative loans facilitated, including $5 million through its marketplace, with an average loan size of $47,000. The company aims to complete its transition from direct lending to a B2B e-commerce model by mid-2025.<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/Ramani Partners with Tanzania Commercial Bank to Expand SMB Lending

Ramani Partners with Tanzania Commercial Bank to Expand SMB Lending

FSD Africa Investments (FSDAi), the UK-backed development finance investor, has committed £10 million ($13 million) to the ARM-Harith Climate and Transition Infrastructure Fund (ACT Fund), a move aimed at mobilising local institutional capital for climate-related infrastructure in Nigeria.The ACT Fund is managed by ARM-Harith Infrastructure Investments, a private equity firm focused on sustainable infrastructure development across Africa. The FSDAi facility will enable Nigerian pension funds to invest in infrastructure with the option of early liquidity, addressing a key obstacle that has previously limited their participation in the asset class.Notably, 75% of the funding will be provided in local currency to reduce exposure to foreign exchange risks, a structure being deployed for the first time in Nigeria's infrastructure equity space. The capital will support investments in climate-resilient sectors, including clean energy, transport, water, and digital infrastructure, and aligns with FSDAi’s broader goal of accelerating green economic transformation in Africa.<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/FSD Invests $13M in ARM-Harith Fund to Draw Nigerian Pension Capital

FSD Invests $13M in ARM-Harith Fund to Draw Nigerian Pension Capital

Ecobank Côte d’Ivoire (<a href="https://www.dabafinance.com/en/capitalmarkets/ECOC" rel="noopener noreferrer" target="_blank">BRVM: ECOC</a>) has secured shareholder approval to raise up to 30 billion CFA francs (around $52 million) to support its lending activities and bolster its investment capacity.The move, approved during the bank’s recent ordinary general meeting, follows a proposal by the board of directors and reflects growing demand for credit across the Ivorian market.The funds will be issued in the form of loans over a two-year period and may be executed in one or more tranches. The board has been tasked with defining the precise issuance terms, including the timeline and financial 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/Ecobank Côte d’Ivoire to Raise $52M to Support Lending, Growth

Ecobank Côte d’Ivoire to Raise $52M to Support Lending, Growth

UK-based Development Partners International (DPI) has assumed investment advisory responsibilities for Egypt’s Nclude fintech fund and launched DPI Venture Capital, a new platform targeting early-stage, tech-driven companies across Africa.Founded in 2022, Nclude has deployed $28 million into nine startups including Paymob, Khazna, and Partment. The $110 million fund is backed by Egypt’s largest banks—Banque Misr, National Bank of Egypt, and Banque du Caire—and strategic investors like Mastercard and e-Finance. DPI will now oversee Nclude’s $105 million assets under management through a dedicated local team in Egypt.The move marks DPI’s formal entry into early-stage tech investing. The private equity firm has previously deployed nearly $850 million in Egypt, backing tech-led companies like MNT Halan and Kazyon. DPI Venture Capital will be led by Managing Partner Ashley Lewis and General Partner Mohamed Aladdin, aiming to capitalize on rising demand for fintech and digital solutions 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/DPI Launches New Africa VC Platform After Nclude Fintech Fund Takeover

DPI Launches New Africa VC Platform After Nclude Fintech Fund Takeover

Electric vehicle (EV) charging startup Zimi has received $320,000 (R6 million) in grant funding from the Energy and Environment Partnership (EEP Africa Trust Fund) to pilot vehicle-to-grid (V2G) technology in South Africa. The grant supports Zimi’s efforts to test how parked EVs can send power back to homes, businesses, and the national grid—especially during grid instability and load shedding.Zimi was one of 32 projects selected out of over 530 applications in EEP Africa’s latest round. The funding will allow Zimi to develop real-world pilot applications, assess technical and regulatory limitations, and build a commercial model for V2G operations.The startup’s current business model focuses on partnering with logistics companies to support their transition to electric fleets. By integrating V2G, Zimi aims to help fleet operators reduce costs and emissions while turning idle vehicles into backup power sources. Zimi’s early clients include Bakers Logistics. The grant comes as bi-directional charging gains traction in South Africa, following Volvo’s launch of its EX90 EV, which supports V2G functionality.<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 Zimi Secures $320K Grant to Test Vehicle-to-Grid Tech

South Africa’s Zimi Secures $320K Grant to Test Vehicle-to-Grid Tech

Ten of Nigeria’s largest banks recorded a 58% increase in electronic payments income in 2024, earning a combined ₦674 billion ($419.7 million) from digital transactions, up from ₦428.6 billion ($266.6 million) in 2023. The earnings reflect a shift toward mobile, app-based, and card payments amid rising inflation and compressed lending margins.The banks—Access Holdings, GTCO, UBA, Zenith, First HoldCo, Wema, Stanbic IBTC, FCMB, Sterling, and Fidelity—benefited from rising usage of the Nigeria Inter-Bank Settlement System (NIBSS) Instant Payment (NIP) platform, which processed ₦1.07 quadrillion in 2024, a new record. UBA led earnings with ₦236.3 billion, followed by Access at ₦178.6 billion.Transaction volume on NIP rose to 11.3 billion, while PoS usage climbed to ₦79.5 trillion. As digital payments rise, banks are investing heavily in infrastructure, spending ₦268.7 billion on IT in 2024—a 74.5% jump. The naira’s sharp depreciation since July 2023 has also contributed to transaction value increases. Nigeria’s cash transactions have dropped 59% over the past decade, the steepest globally, as mobile and card-based transactions replace physical cash.<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 Banks Earn $419M From Digital Transactions in 2024

Nigerian Banks Earn $419M From Digital Transactions in 2024

Nation Media Group (NMG), Kenya’s largest media company, reported a record net loss of $1.9 million (KES 254.4 million) for 2024, its worst performance in over a decade. The loss, up 27% from the $1.5 million posted in 2023, comes despite an 11% rise in digital subscriptions. The board has suspended dividends for the year.Revenue declined 12.5% to $48 million (KES 6.23 billion), with the company citing inflation, reduced consumer spending, and weak advertising demand. Print and broadcast segments took the biggest hit, while digital revenues grew, driven by higher online traffic—62.4 million users, up from 60.2 million.NMG is accelerating its digital-first strategy, investing in online platforms and new content formats to adapt to shifting consumer habits. The group will maintain a print presence in profitable areas but is doubling down on expanding digital distribution.<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/Nation Media Group Posts $1.9M Loss Amid Ad Slump, Restructuring Costs

Nation Media Group Posts $1.9M Loss Amid Ad Slump, Restructuring Costs

Nigerian online grocery platform PricePally is testing food exports and launching a WhatsApp ordering bot as part of a strategy to diversify revenue after a sharp decline in its B2B segment, TechCabal reported. The startup, known for group-buying of staples, saw B2B procurement fall from 25% to 10% of revenue in 2024 due to naira depreciation and food inflation.To tap diaspora demand, PricePally is shipping non-perishable items like ogbono and crayfish to the U.S. and U.K. The move is aimed at offsetting local demand volatility and rising operating costs. The startup sources directly from farmers and undercuts foreign-run African grocery stores abroad, said CEO Luther Lawoyin.The company is also rolling out “April,” an AI-enabled WhatsApp chatbot, to allow budget-based grocery purchases and fractional bulk ordering. April is set to replace a failed 2022 USSD experiment and will eventually serve B2B clients through automated order capture.<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/PricePally Eyes Exports, AI Commerce to Offset B2B Slowdown

PricePally Eyes Exports, AI Commerce to Offset B2B Slowdown

Global data center firm Equinix will invest $140 million to expand digital infrastructure across southern Nigeria, including a new data center in Port Harcourt and the expansion of its Lagos facility LG3. The move aims to decentralize Nigeria’s internet capacity, 70% of which is concentrated in Lagos.The Port Harcourt data center, PR1, will serve as the first Nigerian landing station for Meta’s 2Africa submarine cable, boosting bandwidth capacity and improving resilience in the region. The announcement comes five months after Equinix completed the integration of MainOne, which it acquired for $320 million in 2022.Nigeria hosts eight subsea cables, including Google’s Equiano and Meta’s 2Africa. Equinix is routing traffic over multiple cables to avoid single points of failure. Despite progress in subsea connectivity, only 45% of Nigerians had broadband access as of January 2025. Nigeria needs an additional 95,000 km of fiber to achieve full coverage, according to the World Bank.<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/Equinix to Invest $140M in Nigeria to Expand Internet Infrastructure

Equinix to Invest $140M in Nigeria to Expand Internet Infrastructure

South African fintech Stitch has raised $55 million in a Series B round to expand its in-person payment offerings, strengthen its online suite, and enter the card acquiring space. The round brings total funding to $107 million since the company’s 2021 launch.The round was led by QED Investors, with participation from Norrsken22, Flourish Ventures, Glynn Capital, and angel investor Trevor Noah. Existing investors PayPal Ventures, Ribbit Capital, and The Raba Partnership also joined.The funding will support Stitch’s integration of ExiPay, acquired earlier this year, and enable the firm to act as a direct card acquirer, cutting banks out of the chain and reducing processing costs. Stitch aims to offer seamless switching between payment rails, robust fraud prevention through its Shield AI tool, and unified online and offline payment experiences. Clients include Takealot, MTN, Vodacom, and TFG. The startup has also launched Stitch Express for Shopify and WooCommerce merchants.<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 Stitch Raises $55M to Expand Digital Payments Services

South Africa's Stitch Raises $55M to Expand Digital Payments Services

Nigeria’s headline inflation rose to 24.2% in March, reversing a brief slowdown in February, according to data from the National Bureau of Statistics. The increase was driven by festive demand during Eid al-Fitr, currency depreciation, and elevated logistics costs.Core inflation—excluding food and energy—stood at 24.43%, while food inflation fell slightly to 21.79% from 22.9% in February, indicating price pressures beyond seasonal food effects. Analysts attributed the uptick to naira volatility, import pass-through, and adjusted utility costs. The naira weakened above ₦1,400/$ in March’s parallel markets, reversing earlier gains following central bank reforms. Importers and manufacturers passed higher input costs onto consumers, compounding pressure in urban areas.Analysts expect inflation to remain above 20% in the coming months. Meristem projects inflation between 20–24% through mid-2025, though it flagged risks from FX swings and commodity shocks. The Central Bank of Nigeria’s Monetary Policy Committee will meet in May, and markets expect a potential interest rate hike or liquidity tightening to counter inflation and stabilize the currency.<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 Inflation Rebounds to 24.2% in March as Currency Weakens

Nigeria’s Inflation Rebounds to 24.2% in March as Currency Weakens

Nigerian fintech Moniepoint has launched MonieWorld, a new cross-border financial service targeting the UK–Nigeria remittance corridor, in its first expansion into diaspora banking. The move comes months after Visa’s strategic investment and is positioned as more than a money transfer product.Founder and CEO Tosin Eniolorunda says MonieWorld aims to become a full-service immigrant banking platform. The product enters a highly competitive market dominated by Send, LemFi, Zepz, and others offering low fees and fast transfers.Remittance volume from the UK topped £9.3 billion in 2023, with Nigerian inflows exceeding $20 billion. Moniepoint argues its existing payments infrastructure, credit systems, and scale in Nigeria will allow it to undercut competitors while layering on value-added services. MonieWorld plans to offer broader tools, including credit building — a strategy tested in markets like the U.S. and U.K. by players such as Zolve and Pillar. More corridors are expected, including from the U.S. and Canada.<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/Moniepoint Targets UK–Nigeria Corridor With New Remittance Product

TechCrunch

Moniepoint Targets UK–Nigeria Corridor With New Remittance Product

More than 80 Nigerian Web3 startups have raised a cumulative $130 million to date, with $20 million secured in 2024 alone, according to a new report by Hashed Emergent, a venture capital firm focused on Web3 in emerging markets.The Nigeria Web3 Landscape report highlights increasing developer activity, stablecoin adoption, and capital inflows into the sector. In Q1 2024, stablecoin transfers in Nigeria approached $3 billion, with USDT/NGN now the most traded pair on centralized exchanges. Funding for Web3 finance startups jumped from $2 million in 2023 to $7 million in 2024, driven by cross-border payment solutions using stablecoins.Nigeria contributed 4% of global new Web3 developers in 2024—the highest share from any African country. The total number of developers in the country has grown to 1.1 million, marking a 28% year-on-year increase. Hashed Emergent says Nigeria is positioned to lead Africa’s participation in the global Web3 economy.<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 Web3 Startups Raise $130M as Stablecoin Use Surges

Nigeria’s Web3 Startups Raise $130M as Stablecoin Use Surges

The ninth edition of Africa Tech Summit London will take place at the London Stock Exchange on June 6, bringing together 350 tech leaders, investors, corporates, and policymakers to explore funding and partnership opportunities in Africa’s tech sector.Backed by sponsors including Amazon Web Services, Flutterwave, and 4G Capital, the summit will feature keynotes, panel discussions, and networking sessions aimed at accelerating cross-border deals. A separate Climate Tech and Investment Summit on June 5 will spotlight the continent’s rising role in climate innovation.Now in its ninth year, the summit has evolved into a key meeting point for African startups and international capital. Founder Andrew Fassnidge said the event reflects Africa’s shift toward scale, exits, and a strengthening IPO pipeline. The event continues to serve as a bridge between African ventures and global financial markets, amid a cautious recovery in venture funding.<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 Tech Summit Returns to London Stock Exchange June 6

Africa Tech Summit Returns to London Stock Exchange June 6

Pan-African innovation network AfriLabs has received a $150,000 unrestricted donation from the Airbnb Community Fund to support its network of over 500 technology and innovation hubs across 53 African countries.Founded in 2011, AfriLabs connects startups, investors, and ecosystem partners to foster entrepreneurship and innovation on the continent. The funding will provide AfriLabs with flexible capital to respond to ecosystem needs, scale support services, and enhance collaborative programming.The Airbnb Community Fund, launched in 2020, aims to distribute $100 million globally by 2030. It focuses on causes tied to sustainability, economic empowerment, and community wellbeing. The contribution aligns with Airbnb’s broader strategy to support emerging markets and community development beyond its core business.<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/AfriLabs Secures $150,000 Grant from Airbnb Community Fund

AfriLabs Secures $150,000 Grant from Airbnb Community Fund

The BRVM stock market closed the week lower, with all major indices in decline. The composite index dropped 0.21% to 286.59, while the BRVM-30 fell 0.15% to 144.44. The Prestige index also lost 0.19%, ending at 121.80.Losses were driven by continued pressure on Orange, which fell 0.72% to 14,500 FCFA. Broader declines were seen in Nei-ceda (-7.26%), Total CI (-5.06%), and Solibra (-3.54%), reflecting exits from agri-food and energy stocks.Bernabé CI led gainers with a 6.94% increase to 925 FCFA, followed by Palm (+6.19%) and Setao (+4.17%), both supported by technical rebounds. Trading volume fell sharply to 467.3 million FCFA, a 63.86% drop from the previous session, as investor sentiment remained cautious. Orange and Sonatel dominated activity, representing 20.32% and 23.20% of total volume, respectively.<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 Stock Market Slips as Orange CI Correction Weighs on Indexes

BRVM Stock Market Slips as Orange Correction Weighs on Indexes

Mali has ordered the closure of Canadian miner Barrick Gold’s Bamako office, escalating a long-running dispute over tax arrears. The move follows the seizure of three tons of gold from Barrick’s Loulo-Gounkoto mine and an arrest warrant issued for CEO Mark Bristow earlier this year.Authorities allege Barrick owes 305 billion CFA francs (approx. $500 million) in unpaid taxes. Barrick disputes the claim and maintains that a partial payment of $85 million in 2024 was made in good faith. The Malian government rejected the payment as non-compliant.Gold is critical to Mali’s economy, contributing 75% of export revenue and nearly a quarter of the national budget. In 2023, the military-led government adopted a new mining code emphasizing transparency and greater state participation. Barrick has not yet responded to the latest office closure order. The company has consistently denied wrongdoing.<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/Mali Orders Closure of Barrick Gold Office Amid Tax Dispute

Mali Orders Closure of Barrick Gold Office Amid Tax Dispute

Congo-Brazzaville has suspended the launch of its largest energy infrastructure project, the 600 MW Sounda hydroelectric dam, initially set to begin construction in January 2025. Government spokesperson Thierry Moungalla confirmed the delay at a press briefing but did not offer a new timeline. The $2 billion project is now on hold indefinitely.The dam was expected to nearly double Congo’s generation capacity, currently at 720 MW, much of which is lost due to outdated infrastructure. In cities like Brazzaville and Pointe-Noire, power outages are increasingly common.The government has not disclosed the cause of the postponement. Observers cite potential issues including funding delays, technical disagreements, and logistical hurdles. The silence has fueled public concern amid worsening electricity shortages. The project, if completed, could reshape the country’s power sector and meet growing energy demand in urban areas. For now, the delay underscores deeper governance challenges in major infrastructure execution.<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/Congo’s $2B Sounda Hydropower Project Postponed Amid Energy Crisis

Congo’s $2B Sounda Hydropower Project Postponed Amid Energy Crisis

Equatorial Guinea has finalized a joint venture with Turkish logistics group Albayrak to manage the ports of Bata and Malabo. The new entity, Alport Guinea Ecuatorial, is 51% owned by Albayrak and 49% by the Equatorial Guinean state. The 10-year contract is expected to generate €4 billion in revenue and create 2,000 jobs.The deal includes transit agreements with Chad and the Central African Republic, potentially redirecting freight from Cameroonian ports. This could impact Cameroon’s annual revenues by as much as 340 billion CFA francs ($567 million), according to experts. Cameroon currently handles most of the regional traffic via Douala and Kribi.Albayrak plans to reduce port tariffs and improve efficiency. Vice President Teodoro Nguema Obiang Mangue has emphasized job creation and tariff controls as key parts of the agreement. Cameroon faces criticism for administrative bottlenecks and irregular checkpoints that increase transport costs. A 2018 estimate put illicit payments along the Douala-N’Djamena corridor at 175 billion FCFA annually.<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/Equatorial Guinea, Albayrak Launch Port JV to Compete with Cameroon

Equatorial Guinea, Albayrak Launch Port JV to Compete with Cameroon

Cameroon has budgeted 1,072 billion FCFA ($899 million) for the second phase of the Yaoundé-Douala highway, which will cover 141 km of main road and 40 km of interchanges, according to Public Works Minister Emmanuel Nganou Djoumessi. Construction is expected to begin in the second half of 2025 and finish by 2028.Funding will come from a multilateral financing structure, including contributions from Standard Chartered Bank and China’s EximBank. The agreement for the first 40 km is expected by August 2025. The second phase follows delays in the first, which launched in 2014. Initially estimated at 284 billion FCFA, Phase I cost 350 billion FCFA after multiple amendments and eight years of work. Only 5 km of land has been released for Phase II’s 32 km stretch.Land access issues persist. The government is awaiting a compensation decree by June and has pledged stricter oversight. Local communities demand compensation before construction begins.<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/Cameroon Sets 2028 Target to Complete Yaoundé-Douala Highway Phase II

Cameroon Sets 2028 Target to Complete Yaoundé-Douala Highway Phase II

African exporters are bracing for impact as the U.S. trade war, led by President Donald Trump, targets key sectors with new tariffs. Cocoa, textiles, and vanilla are among the most exposed commodities. Lesotho, Madagascar, and Mauritius face some of the highest proposed duties—50%, 47%, and 40% respectively—despite accounting for a small share of U.S. imports.Africa now has 90 days to negotiate individual trade terms before 10% universal tariffs become permanent. The White House says duties will be adjusted based on trade imbalances. South Africa, with a $7.1 billion surplus, faces a 30% tariff on vehicle exports.Lesotho’s textile sector, a major supplier under AGOA and contributor to 11% of GDP, could suffer severe losses. Madagascar, reliant on textiles and vanilla, risks a 2% GDP hit. Ivory Coast, the world’s top cocoa producer, may also see earnings fall. Strategic resources like oil and gold remain exempt.<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 Cocoa, Textile Sectors Face Tariff Pressure in Trump Trade War

Jeune Afrique

Africa Cocoa, Textile Sectors Face Tariff Pressure in Trump Trade War

Mobile money usage across Africa has doubled over the past four years, reaching over one billion registered accounts by the end of 2024, according to the GSMA’s latest report. The continent now represents 53% of all mobile money wallets globally and 56% of active users, with 286 million conducting transactions within a 30-day window.In 2024 alone, 81 billion transactions were processed across 178 services on the continent, totaling $1 trillion—an annual increase of 15%. Sub-Saharan Africa remains the sector's epicenter, contributing $190 billion to GDP in 2023, up from $150 billion in 2022.Operators such as Safaricom have been key drivers of growth. M-Pesa now accounts for over 42% of Safaricom’s revenue, surpassing $1 billion in 2024. North Africa emerged as a new growth frontier. Egypt saw a 50% jump in Vodafone Cash users and doubled revenue. Morocco is expected to follow, following regulatory changes in late 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/Africa Surpasses 1B Mobile Money Wallets With $1T Traded in 2024

GSMA

Africa Surpasses 1B Mobile Money Wallets With $1T Traded in 2024

Ivory Coast, the world’s top producer of raw cashew nuts, is attracting major international agribusiness investors as it shifts from raw exports to local processing. Output is forecast to reach 1.2 million tons in 2025—up from 565,000 tons in 2014—yet only 30% of nuts were processed domestically last year. The government aims to increase this to 50% by 2030.To accelerate industrialization, the Cotton and Cashew Council (CCA) has offered tax incentives and early purchasing access to processors. Major investors include Singapore’s Valency International, which launched a 14-hectare site near Abidjan, and Royal Nuts PTE’s Dorado Ivory, which operates a 70,000-ton facility. The Emirati Al Sayegh Group invested €22 million in a northern plant employing 2,000 people. Olam, an early mover, now runs four Ivorian processing plants. India’s Arise IIP is developing a 429-hectare agro-industrial zone near Abidjan. Local cooperative Coopares, the country’s top raw exporter, is now eyeing downstream 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/Cashew Boom Draws Global Agro-Industry Giants to Ivory Coast

Cashew Boom Draws Global Agro-Industry Giants to Ivory Coast

Orange Côte d'Ivoire Group reported consolidated revenue of 283.6 billion FCFA ($479.6 million) for Q1 2025, an 8.6% increase from 261.1 billion FCFA in Q1 2024. The telecom operator (<a href="https://www.dabafinance.com/en/capitalmarkets/ORAC" rel="noopener noreferrer" target="_blank">BRVM: ORAC</a>), which covers operations in Côte d'Ivoire, Burkina Faso, and Liberia, saw its EBITDA rise 6.1% to 98.7 billion FCFA ($166.9 million). Net profit grew 1.9% to 38.6 billion FCFA ($65.3 million).Mobile subscriptions increased to 36.1 million by the end of March 2025, up from 33.8 million a year earlier. Capital expenditure reached 64.3 billion FCFA ($108.8 million) compared to 50.6 billion FCFA in Q1 2024. Orange Côte d'Ivoire continues its network modernization program, accelerating fiber deployment and expanding mobile coverage in rural areas. These investments have improved network quality and increased customer acquisition.Orange Burkina Faso unit reported strong performance driven by Orange Money and positive impacts from network investments, particularly in mobile data. Orange Liberia maintained growth through network quality improvements and by implementing floor pricing.<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/Orange Côte d'Ivoire Posts 8.6% Revenue Growth in Q1 2025

Orange Côte d'Ivoire Posts 8.6% Revenue Growth in Q1 2025

West Africa regional stock exchange (BRVM) has announced that Banque Internationale pour l'Industrie et le Commerce du Bénin (BIIC) will debut on the main compartment of the exchange on Monday, April 28, 2025.BIIC, a public limited company registered in Cotonou, completed a public offering that distributed 19,133,345 shares to investors between January 13 and February 28, 2025, at 5,250 FCFA ($8.88) per share.The listing follows the partial divestment of the Beninese government's stake, approved by BIIC's Board of Directors on October 15, 2024, shareholders on October 30, and formalized by Ministerial Decree 2024-1350 on November 13, 2024. For its first trading day, BIIC will use the ordinary procedure with a reference price set at 5,250 FCFA. The stock will trade under the symbol "BICB."<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/Benin's BIIC Bank to Make Trading Debut on BRVM April 28

Benin's BIIC Bank to Make Trading Debut on BRVM April 28

The Central Bank of Kenya (CBK) and the National Treasury have approved Access Bank Plc’s acquisition of 100% of National Bank of Kenya (NBK), clearing a major regulatory hurdle for the Nigerian lender’s East African expansion. The deal, first initiated nearly a year ago, still requires approval from Nigerian authorities.In a gazette notice, CBK Governor Kamau Thugge confirmed the approval under Section 13 (4) of the Banking Act, with Treasury Cabinet Secretary John Mbadi also signing off. The acquisition gives Access Bank control of NBK’s nationwide branch network, expanding its footprint in Kenya’s competitive banking sector.While the transaction value hasn’t been disclosed, KCB Group—NBK’s current parent—previously indicated the sale was agreed at 1.25 times NBK’s $79.77 million book value, implying a deal close to $100 million. Final pricing may vary. This marks Access Bank’s second Kenyan acquisition, following its 2020 purchase of Transnational Bank. The Nigerian bank is expected to inject fresh capital into NBK to strengthen its balance sheet.<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 Approves Access' National Bank Acquisition in $100M Deal

Kenya Approves Access' National Bank Acquisition in $100M Deal

The BRVM stock market closed last week in positive territory, with the Composite index gaining 0.71% to 290.79 points and the BRVM 30 rising 0.85% to 146.70 points.Market activity showed 16 stocks up, 28 stocks down, and 3 unchanged. Total Cote d'Ivoire led gainers with a 16.81% increase to 3,960 FCFA ($6.70). Unilever followed with a 15.44% gain to 7,590 FCFA ($12.83). Other notable risers included SIB (+8.89%), BOA Mali (+8.13%), and Filtisac (+5.47%).Setao led decliners, dropping 14.41% to 475 FCFA ($0.80), followed by Nei-ceda (-13.89%) and TRACTAFRIC MOTORS (-13.67%). Trading volumes were particularly strong for FILTISAC (173,244 shares) and TOTAL CI (116,871 shares), indicating significant investor interest in these stocks.<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 Posts Strong Gains as Total Cote d'Ivoire Rises 171%

BRVM Posts Strong Gains as Total Cote d'Ivoire Rises 17%

Ghana’s annual consumer inflation slowed for a third consecutive month to 22.4% in March, down from 23.1% in February, driven by easing food price pressures, according to the Ghana Statistical Service. “This is the lowest inflation rate recorded in the past four months,” said Government Statistician Samuel Kobina Annim. Food inflation saw a sharp drop, while non-food inflation declined marginally.The deceleration comes just a week after the Bank of Ghana raised its benchmark interest rate by 100 basis points to 28%, surprising markets with a move aimed at reinforcing disinflation momentum. Governor Johnson Asiama has cautioned that inflation remains well above the central bank’s 8% ±2% target range and requires a tight policy stance.Finance Minister Cassiel Ato Forson, speaking in March, projected that aggressive fiscal consolidation would help lower inflation to 11.9% by year-end.<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/Ghana Inflation Slows to Five-Month Low After Steep Rate Hike

Bloomberg

Ghana Inflation Slows to Five-Month Low After Steep Rate Hike

Diageo Plc is divesting its 54.4% stake in Seychelles Breweries Ltd. to Mauritius-based Phoenix Beverages Ltd. for around $80 million, marking its third major African exit in less than a year. The move advances Diageo’s “asset-light” strategy aimed at reducing volatility and optimizing returns on the continent.PhoenixBev, the largest brewer in Mauritius, is expanding its footprint across Indian Ocean markets as part of a broader regional growth push. The company already brews Diageo brands such as Guinness and Smirnoff Ice locally. The Seychelles deal is expected to add 1.7 billion rupees ($37.1 million) in revenue and 231.8 million rupees in net profit, according to Axys Stockbroking.The transaction follows Diageo’s sales of stakes in Guinness Ghana to Castel Group and Guinness Nigeria to Singapore-based Tolaram. Previous exits include Guinness Cameroon and Meta Abo Brewery in Ethiopia. Seychelles Breweries will remain listed on the Seychelles Stock Exchange. The deal is expected to close in June.<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/Diageo Sells Seychelles Breweries Stake for $80M in Africa Retreat

Diageo Sells Seychelles Breweries Stake for $80M in Africa Retreat

Kenyan banks increased their investments in government securities while tightening private sector lending, even as returns on domestic debt declined. The yield on 91-day Treasury bills dropped to 8.79% at the March 27 auction, down from 15.7% in September. The 364-day bills now yield 10.4%, compared to 16.8% a year ago.Despite falling yields, demand for short-term debt remains high, with recent auctions oversubscribed by over 200%, according to Absa Bank Kenya CFO Yusuf Omari. However, Omari expects banks to shift gradually toward lending as yields normalize and consumer demand recovers.Equity Group’s Kenyan unit increased government securities holdings by 21% while cutting net loans to customers by nearly 6%. Standard Chartered Bank Kenya boosted its securities exposure by 46% year-on-year and reduced customer loans by 7%. Banks’ overall share of domestic government securities has held steady around 45% since mid-2023, according to central bank data.<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/Kenyan Banks Boost Govt Debt Holdings as Private Sector Lending Slows

Kenyan Banks Boost Govt Debt Holdings as Private Sector Lending Slows

Ivory Coast, the world’s top cocoa producer, raised the farmgate price for its April-to-September mid-crop to 2,200 CFA francs ($3.62) per kilogram, or $3,620 per ton, up from 1,800 CFA francs for the just-concluded main crop, Agriculture Minister Kobenan Kouassi Adjoumani said in Abidjan.The price hike comes amid expectations of a smaller mid-crop due to dry Harmattan winds, which hurt flowering and tree health. The adjusted rate, while an improvement, remains well below global market prices, which reached $8,450 per ton last week and remain near historic highs.The price-setting mechanism used by Ivory Coast and neighboring Ghana is under scrutiny for limiting farmer earnings during a record-breaking global rally. Both countries have stepped up measures to curb cross-border smuggling to markets in Liberia, Guinea, and Togo, where farmers often fetch higher prices. Ivory Coast’s mid-crop is primarily allocated to local grinders to support domestic processing. Rainfall in coming weeks could help salvage the latter part of the harvest.<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/Ivory Coast Lifts Cocoa Farmgate Price Amid Tight Mid-Crop Outlook

Ivory Coast Lifts Cocoa Farmgate Price Amid Tight Mid-Crop Outlook

Bank of Africa Burkina Faso (<a href="https://www.dabafinance.com/en/capitalmarkets/BOABF" rel="noopener noreferrer" target="_blank">BRVM: BOABF</a>) will pay an annual dividend of 428 FCFA ($0.72) per share for fiscal year 2024 on April 22, 2025, the lender said on the Regional Stock Exchange (BRVM).BOA Burkina Faso shares (BOABF) will trade ex-dividend starting Thursday, April 17, 2025. The register closing date is set for Tuesday, April 22, 2025. All pending stock exchange orders in the trading system on this date will be canceled.The company is currently the 15th most valuable firm on the BRVM with a market capitalization of XOF 190 billion, which makes up about 1.75% of the BRVM Stock Exchange equity market. The stock price has gained 42% 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/BOA Burkina Faso to Pay Dividends on April 22 With Over 9% Yield

BOA Burkina Faso to Pay Dividends on April 22 With Over 9% Yield

Unilever Overseas Holdings has agreed to sell its Ivorian subsidiary (<a href="https://www.dabafinance.com/en/capitalmarkets/UNLC" rel="noopener noreferrer" target="_blank">BRVM: UNLC</a>) to a consortium led by Société de distribution de toutes marchandises Côte d'Ivoire (SDTM CI), the company said. The transaction involves 9,163,608 shares, representing 99.78% of Unilever CI's share capital and voting rights. The company's share capital stands at 24,936 billion FCFA ($41.7 million). Financial terms were not disclosed.SDTM CI, a subsidiary of Ivorian conglomerate Carré d'Or, currently handles Coca-Cola bottling and distribution in Côte d'Ivoire. Unilever stated that a transition period will ensure operational continuity and service quality.The sale awaits regulatory approvals with completion expected in the coming months. For SDTM CI, the acquisition aims to strengthen its position in agribusiness and mass retail sectors while expanding its West African portfolio.<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/Unilever Sells Ivorian Unit to SDTM-Led Group Amid Revenue Decline

Unilever Sells Ivorian Unit to SDTM-Led Group Amid Revenue Decline

Egyptian e-commerce startup Rabbit has launched operations in Saudi Arabia, setting a target to deliver 20 million items across major cities by 2026. The company has established its regional headquarters in Riyadh and is already operational through a network of dark stores in key neighborhoods.Rabbit’s entry follows the receipt of a commercial license from Saudi Arabia’s Ministry of Investment in 2022. Its hyperlocal strategy is designed to align with Vision 2030 goals, including SME development, digital transformation, and foreign investment.Saudi Arabia’s $60 billion grocery market has an online penetration rate of just 1.3%, compared to 5.3% in the UAE. Rabbit aims to capture a share of the &gt;$2 billion potential market if penetration rises to 4%. The company has delivered over 40 million items in Egypt and posted 8.5x revenue growth in two years. Rabbit is backed by investors including Lorax Capital, Global Ventures, and Raed Ventures.<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 Rabbit Expands to Saudi in Play for $60B Grocery Market

Egypt’s Rabbit Expands to Saudi in Play for $60B Grocery Market

Nairobi-based tourism venture studio Purple Elephant Ventures (PEV) has raised an additional $500,000 in seed funding from Alphatron, a Dutch single-family office, bringing its total round to $5 million.Founded by Ben Peterson, Jan Van der de Willebois, and Mikul Shah, PEV focuses on launching tech-enabled startups aimed at transforming Africa’s tourism sector through sustainability and climate resilience. The firm targets the creation of three to four ventures per year and operates with a self-funding model to maintain alignment with its long-term mission.The new funding adds to previous backing from Clear Creek Investment B.V., Klister Corp., Playfair Capital founder Fede Pirzo-Biroli, Anthony Rock, and former Lastminute.com CEO Ian McCaig. PEV had earlier closed $1 million in pre-seed funding in 2022 and $4.5 million in seed funding in January 2025. PEV has launched five startups to date, including Nomad Africa, Kijani Supplies, Zafari, PowerTrip, and JOIN Africa, all designed to close operational and sustainability gaps in Africa’s hospitality ecosystem.<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/Purple Elephant Tops Up Seed Round to $5M With Family Office Backing

Purple Elephant Tops Up Seed Round to $5M With Family Office Backing

The European Union, in collaboration with the Government of Togo, has opened applications for startups to pitch at the upcoming BlueInvest Africa event, scheduled for October 15–16 in Lomé.BlueInvest Africa is a platform connecting African entrepreneurs in the blue economy sector with international investors and public stakeholders. The <a href="https://blueinvestafrica.eu/" rel="noopener noreferrer" target="_blank">2025 edition</a> follows previous events in Seychelles and Kenya and aims to spotlight investment-ready ventures contributing to a sustainable and inclusive blue economy across the continent.Organised under the EU’s Global Gateway strategy, the initiative seeks to drive European investment into African maritime innovation, including aquaculture, coastal tourism, marine biotechnology, and ocean conservation. Startups selected to pitch will have the opportunity to engage with global investors, policymakers, and development partners.<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/EU and Togo Open Applications for BlueInvest Africa 2025 Pitch Event

EU and Togo Open Applications for BlueInvest Africa 2025 Pitch Event

Maseera Holding for Financial Investments, a portfolio company of Abu Dhabi’s International Holding Company (IHC), has acquired Egyptian buy now, pay later (BNPL) platform ADVA to accelerate its financial inclusion strategy across North Africa.Founded in 2020, ADVA offers short-term consumer credit for installment purchases. The company will now serve as Maseera’s technology and data analytics hub for the region. The terms of the deal were not disclosed. As part of its next phase, ADVA has applied for Egypt’s first digital consumer finance license. The license would allow it to offer full digital onboarding, including e-KYC and e-signatures, in line with new regulatory reforms.Maseera CEO Amro Abouesh said the company will use data and AI to expand access to credit for Egypt’s middle and low-income segments. The acquisition aligns with Maseera’s goal to scale financial services through AI-driven underwriting and digital platforms.<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/Egyptian Fintech ADVA Acquired By Abu Dhabi-Based Maseera

Egyptian Fintech ADVA Acquired By Abu Dhabi-Based Maseera

African tech startups raised $284 million across 55 deals in Q1 2025, down 8.4% from the same period last year, according to Disrupt Africa’s latest African Tech Startups Funding Report. The data signals a continuation of 2024’s funding downturn and tempers expectations of a market recovery.In 2024, total startup funding on the continent fell over 50% to $1.1 billion, with the number of funded ventures cut in half amid global capital constraints. The trend appears to be holding in 2025. The number of funded startups in Q1 declined by nearly half year-on-year, from 82 in Q1 2024 to 55 this year.The slowdown comes despite optimism triggered by late 2024 mega-rounds for Moniepoint and Yellow Card. The largest Q1 2025 deals were secured by LemFi (Nigeria), Naked (South Africa), and Gozem (Togo). If the current pace holds, annual funding totals will likely mirror 2024 levels.<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/African Startup Funding Q1 Decline Dashes Hopes of 2025 Rebound

African Startup Funding Q1 Decline Dashes Hopes of 2025 Rebound

Kenya has proposed its first regulatory framework for digital assets, signaling a shift in policy for one of Africa’s most active crypto markets. The Virtual Asset Service Providers Bill 2025 outlines licensing requirements for crypto exchanges, stablecoin issuers, digital wallets, ICOs, and tokenisation platforms.The draft law assigns regulatory responsibilities to both the Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA). The CBK will oversee wallet providers, stablecoins, and crypto payment processors, while the CMA will regulate exchanges, token offerings, investment advisors, and asset managers. The bill also brings ICOs under regulation, requiring disclosures similar to stock market IPOs. Tokenisation platforms must register and provide detailed asset valuation and custody information.Stablecoin issuers will face reserve requirements, audits, and governance rules. Non-compliance could result in fines up to KES 20 million ($155,000) and potential criminal charges. The move reverses the CBK’s earlier stance from 2015, when it warned against crypto use. Kenya now ranks among Africa’s top adopters, with nearly half of consumers holding crypto, according to FSD Africa.<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 Proposes First Regulatory Framework for Cryptocurrencies

Kenya Proposes First Regulatory Framework for Cryptocurrencies

Surayyah Ahmad, a two-time founder and former co-founder of Aduna Capital, has launched Sabou Capital, a new SME-focused fund targeting underserved small and medium enterprises across Anglophone and Francophone Africa. The fund will invest between $350,000 and $1.5 million in 25 companies at late pre-seed to Series A stage.Sabou Capital, which calls itself a “micro-private equity” fund, will focus on sectors such as agriculture, renewable energy, logistics, and mobility. Unlike venture capital firms chasing high-growth tech startups, the fund will back companies using technology to optimize operations, not define them.With operations in Nigeria, Senegal, and Côte d’Ivoire, the fund is targeting SMEs in secondary cities and applying a gender-lens investment strategy to prioritize funding for women-led businesses. Christian Amouo, with experience in Francophone PE markets, joins as general partner. Sabou Capital is preparing to launch its fundraising roadshow in July and has already identified 20 startups in its pipeline. The fund expects a 2–3x return profile, focusing on steady growth rather than rapid exits.<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/Sabou Capital Launches Fund to Back Underserved SMEs in West Africa

Sabou Capital Launches Fund to Back Underserved SMEs in West Africa

Nairobi-headquartered digital bank Umba has raised a $5 million debt facility to grow its secured lending operations in Kenya, with a focus on vehicle financing and SME loans. The deal, structured as non-dilutive debt, was funded by U.S.-based asset manager Star Strong Capital, with Gahigiro Capital advising on the transaction.Founded in 2018, Umba entered Kenya in 2023 following its acquisition of a 66.6% stake in Daraja Microfinance Bank, securing a licence from the Central Bank of Kenya. The new funding brings Umba’s total raised capital to $20 million.CEO Tiernan Kennedy said the capital will support revenue-generating products, with vehicle loans now the largest component of the company’s Kenyan loan book. Kenya has over 5 million registered vehicles, and the vehicle financing market is estimated at $17 billion. The company expects to post a profit in Kenya this year and will continue operating under a microfinance licence.<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/Digital Bank Umba Raises $5M to Expand Secured Lending in Kenya

Digital Bank Umba Raises $5M to Expand Secured Lending in Kenya

Casablanca-based fintech PayTic has raised $4.4 million in a funding round led by AfricInvest, with participation from Axian Venture Lab, Mistral VC, and returning investors CDG Invest, Build Ventures, Concrete VC, and ICP Ventures. The latest round brings the startup’s total funding to $7.4 million.Founded in 2020, PayTic provides back-office automation tools for banks, fintechs, card issuers, and payment processors. The platform supports operations such as reconciliation, fraud management, compliance, and chargebacks through a no-code interface integrated directly with financial institutions’ systems.PayTic currently serves more than 20 clients across Europe, the Middle East, and Africa, including CIH Bank, CFG Bank, and Bank of Africa’s OGS. The startup plans to expand in the Middle East and target new markets, including Nigeria.<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/Moroccan Fintech PayTic Raises $4.4M to Expand Payment Infrastructure

Moroccan Fintech PayTic Raises $4.4M to Expand Payment Infrastructure

Swedfund, Sweden’s development finance institution, has invested €26 million ($28.2 million) in AfricInvest’s Financial Inclusion Vehicle (FIVE), a fund targeting underserved financial institutions across Africa. The investment aims to expand access to banking for unbanked individuals and small businesses.FIVE, launched in 2017 by Pan-African private equity firm AfricInvest, focuses on Tier II and Tier III institutions, including banks, insurers, and fintechs that serve low-income populations and SMEs. Swedfund’s capital will support financial institutions deploying both traditional and digital-first solutions to improve access to credit, savings, and insurance.This follows Swedfund’s €15 million investment in AfricInvest’s Small Cap Fund, which targets SMEs. Combined, both investments align with Swedfund’s strategy to promote inclusive finance and economic empowerment. A consortium of European and African development institutions backs the Financial Inclusion Vehicle. Swedfund’s contribution will also support the portfolio's gender-inclusive financial practices and women-focused initiatives.<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/Swedfund Commits $28M to AfricInvest Fund for Financial Inclusion

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