Nigeria’s headline inflation slowed to 23.71% in April 2025 from 24.23% in March, according to data from the National Bureau of Statistics. The moderation was driven by easing food and core inflation, alongside a decline in monthly inflation to 1.86%, down sharply from 3.90% in March.Food inflation fell to 21.26% year-on-year—significantly lower than the 40.53% recorded in April 2024—due to improved supply, softer demand, and statistical base effects. Core inflation, which excludes food and energy, also cooled to 23.39% from 26.84% in April 2024, with monthly core inflation slowing to 1.34%.Despite the moderation, analysts note that elevated energy, telecom, and import costs—fueled by past naira depreciation—remain key inflationary risks. As of May 15, 2025, the naira appreciated to ₦1,599.33/$1 in the official market, up 0.62% on the week. However, the currency weakened slightly in the parallel market, trading between ₦1,620 and ₦1,630/$1, reflecting ongoing dollar scarcity and access issues for smaller firms and individuals.<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 Slows to 23.7% in April as Core Pressures Ease

TechCabal

Nigeria’s Inflation Slows to 23.7% in April as Core Pressures Ease

South African emergency response platform AURA has secured €13.5 million ($14.6 million) in Series B funding to fuel its global expansion, targeting operations in 50 countries within two years. The round was co-led by the Cathay AfricInvest Innovation Fund (CAIF) and Partech, raising AURA’s total funding to €21 million ($22.8 million).AURA offers mobile-enabled emergency response by connecting users with the nearest vetted private security or medical responders through apps and panic buttons. The platform currently operates in South Africa, Kenya, the UK, and the U.S., and serves 1.2 million paying subscribers globally.AURA runs a B2B2C subscription model, integrating with partners such as Uber, Samsung, and FNB to enable white-labeled safety services. It allows security and ambulance providers to monetize idle capacity, supporting faster, verified responses. The U.S.—a $7 billion market—is now a priority expansion area. AURA aims to fill the service gap created as public law enforcement steps back from unverified alarms, leveraging partnerships to embed its tech into mobile devices and wearables.<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 AURA Raises $14.6M Series B to Expand Emergency Tech

South Africa’s AURA Raises $14.6M Series B to Expand Emergency Tech

West Africa’s BRVM surged this week, with the BRVM Composite Index climbing 2.13% to 301.29—its first close above 300 since July 2016. Market cap reached a record 11.6T FCFA ($19.8B). Gains were led by Sitab (+43.44%), Setao (+18.1%), and Ecobank (+11.72%). Other BRVM indexes also jumped, driven by strength in financials and industrials.Across Africa, Nigeria’s NGX All-Share Index added 0.9%, with Northern Nigeria Flour Mills and Honeywell Flour Mill each gaining 10%. Kenya’s NSE rose 5.83%, supported by Africa Mega Agricorp (+9.8%) and Sanlam Kenya (+9.71%). South Africa’s JSE gained 0.82%, paced by Visual International (+50%) and Nu-World Holdings (+14.2%).Globally, U.S. markets posted strong weekly gains: the Nasdaq-100 surged 3.49%, the S&amp;P 500 added 2.56%, and the Dow rose 0.95% amid tech strength and cooling inflation data. In Europe, the FTSE 100 climbed 1.52%, while the Euro Stoxx 50 rose just 0.16%. China’s SSE Composite inched up 0.43%, as momentum slowed late in the week.<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 Breaks 300-Point Mark as Global Markets Rally on Growth Optimism

Daba Intelligence

BRVM Breaks 300-Point Mark as Global Markets Rally on Growth Optimism

Opera has launched its MiniPay stablecoin wallet as a standalone iOS app, extending access to users across Africa for the first time. Previously embedded in the Opera Mini browser and limited to Android, the move positions MiniPay to compete more broadly in Africa’s $125 billion crypto payments market, where stablecoins made up $54 billion, 43% of transactions in 2024.The app, built on the Celo blockchain, supports USDT, USDC, and cUSD, and now operates across both Android and iOS. It offers daily rewards, integration with platforms like M-Pesa and Apple Pay, and access to over 35 local currencies via third-party liquidity partners including Yellow Card, Fonbnk, and Transak.MiniPay does not handle fiat transactions or conduct KYC checks directly, instead relying on regulated partners for on- and off-ramping. This structure may attract scrutiny in markets like Nigeria, where regulators increasingly view stablecoin platforms as securities exchanges. The app is backed by a $40 million fund led by Opera Group and investors such as Tether and JUMP. Opera plans to expand MiniPay’s functionality into e-commerce, travel, and DeFi payments over the next year.<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/Opera Targets Africa’s $54B Stablecoin Market With MiniPay Spinoff

Opera Targets Africa’s $54B Stablecoin Market With MiniPay Spinoff

Kodal Minerals has suspended operations at its newly launched lithium mine in Mali, citing regulatory obstacles preventing the export of its first shipments. The British miner had begun production in February at its Bougouni project, the country’s second lithium mine, but is now unable to move forward with deliveries.CEO Bernard Aylward told Reuters the company is unable to export nearly 20,000 tonnes of spodumene due to unresolved regulatory constraints. “Our customer is ready to buy it, but we cannot export it,” he said.The delay affects an exclusive sales agreement with Kodal’s strategic partner, Chinese firm Hainan Mining. The suspension underscores the risks facing foreign operators in Mali’s emerging lithium industry, where the legal and export frameworks remain under development.<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/Kodal Minerals Halts Lithium Exports in Mali Due to Regulatory Block

Sika Finance

Kodal Minerals Halts Lithium Exports in Mali Due to Regulatory Block

West Africa’s BRVM stock market continued its upward trend on Thursday, with the benchmark composite index climbing 0.74% to 300.38 points—its highest level since July 2016. This marks a symbolic milestone, as the equity market’s capitalization reached 11.6 trillion FCFA ($19.8 billion), surpassing that of the regional bond market for the first time.Other indices also posted gains, with the BRVM-30 rising 0.62% to 151.22 points and Prestige up 0.93% to 124.52 points. The gains were driven by strong performances from financial and industrial stocks. <a href="https://www.dabafinance.com/en/capitalmarkets/ECOC" rel="noopener noreferrer" target="_blank">Ecobank</a> rose 5.33% to 11,060 FCFA, adding 30.8 billion FCFA in market capitalization and ranking among the top performers. <a href="https://www.dabafinance.com/en/capitalmarkets/STBC" rel="noopener noreferrer" target="_blank">Sitab</a> climbed 7.48% to 14,655 FCFA, crossing the 14,000 FCFA mark for the first time. <a href="https://www.dabafinance.com/en/capitalmarkets/BICC" rel="noopener noreferrer" target="_blank">BICI</a> followed closely, up 7.42% to 15,850 FCFA. Decliners included <a href="https://www.dabafinance.com/en/capitalmarkets/UNXC" rel="noopener noreferrer" target="_blank">Uniwax</a> (-6.99%), <a href="https://www.dabafinance.com/en/capitalmarkets/BNBC" rel="noopener noreferrer" target="_blank">Bernabe</a> (-3.75%), and <a href="https://www.dabafinance.com/en/capitalmarkets/NEIC" rel="noopener noreferrer" target="_blank">Nei-Ceda</a> (-3.33%). Total trading volume reached 1.34 billion FCFA, led by <a href="https://www.dabafinance.com/en/capitalmarkets/ORAC" rel="noopener noreferrer" target="_blank">Orange</a> (20.16% of transactions) and <a href="https://www.dabafinance.com/en/capitalmarkets/SNTS" rel="noopener noreferrer" target="_blank">Sonatel</a> (23.09%), reflecting the high liquidity of market heavyweights.

Daba Finance/BRVM Benchmark Stock Index Hits 9-Year High Amid Sustained Rally

BRVM Benchmark Stock Index Hits 9-Year High Amid Sustained Rally

Senegal’s industrial production jumped 19.7% in March 2025 year-on-year, fueled by a 75% surge in extractive industries following the start of oil production in the country. The data was released by the National Agency of Statistics and Demography (ANSD) in its May 13 report.The extractive sector’s performance was also supported by an 18.3% rise in metal ore output and a 6.6% increase in other extractive activities. For the first quarter of 2025, overall industrial output rose 65.5% compared to the same period in 2024.Environmental industries also posted gains, with a 10.1% year-on-year increase in March, largely due to a 10% rise in waste treatment and disposal services.<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/Senegal Industrial Output Rises Nearly 20% in March on Oil Extraction

Senegal Industrial Output Rises Nearly 20% in March on Oil Extraction

Tunisian conglomerate Nourmony Holding officially listed its "Nourmony 7.25% 2024–2029" bond on the BRVM on May 14, marking its entry into the WAEMU region’s bond market. The CFA franc-denominated bond, aimed at raising 20 billion CFA francs, was 112% oversubscribed within 10 days of launch in February, raising 22.4 billion CFA francs ($38 million).The listing allows secondary market investors to trade the bond and provides liquidity for those unable to participate during the initial offering. An initial transaction of 1 million CFA francs signaled Nourmony’s formal market entry. The funds will be deployed across key sectors, including automotive, construction, logistics, and equipment distribution.Structured by SGI Impaxis Securities, the deal pools funding for four subsidiaries—SAM Motors, 100% Béton, SOGECAR, and CAM Equipment—under a group-wide growth strategy. At least part of the funds will be used to strengthen operations in Côte d’Ivoire.<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/Nourmony Lists $38M Bond on BRVM After Oversubscribed Issuance

Nourmony Lists $38M Bond on BRVM After Oversubscribed Issuance

The European Investment Bank’s development arm, EIB Global, has partnered with Kenya’s Family Bank to mobilise €100 million (US$110 million) in financing for small and medium-sized businesses. The facility aims to expand access to credit for women-led enterprises and youth entrepreneurs in Kenya.Under the agreement, EIB Global is providing a €50 million credit line, which Family Bank will match. The financing, announced at the EU-Kenya Business Forum in Nairobi, will primarily support SMEs and mid-cap firms in the agriculture and trade sectors.At least half of the funds will be allocated to businesses owned or managed by women, while a minimum of 30% will support ventures led by young entrepreneurs. The partnership aligns with the bank’s 2025–2029 strategy to scale SME lending and deepen engagement across value chains. EIB Global will also offer technical assistance to strengthen Family Bank’s gender strategy and explore a 2X Challenge certification to further promote women's economic empowerment.<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/EIB, Family Bank to Mobilize $110M for SME Financing in Kenya

Disrupt Africa

EIB, Family Bank to Mobilize $110M for SME Financing in Kenya

Nouvelles Editions Ivoiriennes-CEDA (<a href="https://www.dabafinance.com/en/capitalmarkets/NEIC" rel="noopener noreferrer" target="_blank">BRVM: NEIC</a>), Ivory Coast's major publishing house, reported a 101% increase in net losses for Q1 2025 as revenue plummeted. The company posted a net loss of 189.9 million CFA francs ($322,456) compared to 94.7 million CFA francs ($160,803) in Q1 2024. Revenue fell 54% to 48.5 million CFA francs ($82,356) from 105.8 million CFA francs ($179,652).Financial results declined 24% to 29.2 million CFA francs ($49,583) from 38.6 million CFA francs ($65,527). The company's operating loss widened to 285.4 million CFA francs ($484,588) from 181.1 million CFA francs ($307,513).NEI-CEDA reported 66.2 million CFA francs ($112,410) in tax impacts on results, up 39% from the previous year's 47.7 million CFA francs ($80,995). Founded in 1992, Nei-ceda operates with capital of 255.3 million CFA francs ($433,510) and headquarters in Abidjan.<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 Publisher Nei-ceda Losses Widen in First Quarter

Ivorian Publisher Nei-ceda Losses Widen in First Quarter

Ivory Coast's tobacco manufacturer Société Ivoirienne des Tabacs SA (<a href="https://www.dabafinance.com/en/capitalmarkets/STBC" rel="noopener noreferrer" target="_blank" style="font-family: Manrope, sans-serif; font-size: 16px; background-color: rgb(255, 255, 255);">BRVM: STBC</a>) posted net income of 9.41 billion CFA francs ($16 million) in Q1 2025, up 146% from 3.82 billion CFA francs in Q1 2024.Revenue increased 35% to 61.42 billion CFA francs ($104.3 million) despite a 7% decline in sales volume to 1.71 million cigarette units. The company attributed volume drops to price increases on FINE DUO and FINE KS cigarettes implemented in January 2025. Operating profit surged 134% to 12.35 billion CFA francs ($21 million) from 5.27 billion CFA francs in the same period last year. The price increases followed regulatory changes, including a minimum price requirement introduced in November 2024 and significant excise tax hikes on tobacco products. The company expects to maintain strong performance through 2025 while preserving current sales trends.<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/Sitab First-Quarter Net Income Rises 146% Despite Volume Decline

Sitab First-Quarter Net Income Rises 146% Despite Volume Decline

Société Ivoirienne des Tabacs SA (<a href="https://www.dabafinance.com/en/capitalmarkets/STBC" rel="noopener noreferrer" target="_blank">BRVM: STBC</a>), Ivory Coast's tobacco manufacturer, reported net income of 44.73 billion CFA francs ($75.9 million) for fiscal year 2024, more than tripling from 12.4 billion CFA francs in 2023. Revenue rose 26% to 216.13 billion CFA francs ($366.8 million) from 170.83 billion CFA francs. Sales of merchandise increased to 213.79 billion CFA francs ($363 million) from 169.39 billion CFA francs.The company's cash position strengthened to 48.16 billion CFA francs ($81.8 million) from 9.05 billion CFA francs at year-end. SITAB's board will present the results for shareholder approval at the annual general meeting. The company has 45.45 billion CFA francs ($77.2 million) available for distribution.The tobacco manufacturer maintained solid capital reserves with total equity of 46.89 billion CFA francs ($79.6 million). Operating income grew to 55.01 billion CFA francs ($93.4 million) from 16.26 billion CFA francs, reflecting improved operational efficiency despite rising service costs.<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 Sitab More Than Triples Annual Net Income

BRVM-Listed Sitab More Than Triples Annual Net Income

Onatel (<a href="https://www.dabafinance.com/en/capitalmarkets/ONTBF" rel="noopener noreferrer" target="_blank">BRVM: ONTBF</a>), Burkina Faso's main telecom operator, reported first-quarter revenue of 36.5 billion CFA francs ($62 million), up 4% year-on-year. This follows full-year 2024 revenue of 140.2 billion CFA francs ($238.1 million).Net profit fell 24.7% to 3.9 billion CFA francs ($6.6 million), while EBITDA decreased 8.8% to 15 billion CFA francs ($25.5 million). The company's EBITDA margin contracted to 41.2% from 47% a year earlier. Onatel recorded FY 2024 net profit of 20.1 billion CFA francs ($34.1 million) with an EBITDA of 63.2 billion CFA francs ($107.3 million).The company blamed increased energy costs, site maintenance in security-challenged areas, and higher Mobile Money commissions for the profit decline. Customer base grew 3.8% to 12.2 million users. Mobile subscribers increased 3.7% while fixed-line customers fell 3%. Internet users (fixed and mobile) rose 7.1%.Growth drivers included Mobile Money transaction volume (+20.4%), prepaid mobile (+3.6%), and high-speed fiber optic services (+104.7%). The company continues investing in network modernization and rural connectivity.<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 Faso Telco Onatel Q1 Revenue Jumps 4%

Burkina Faso Telco Onatel Q1 Revenue Jumps 4%

Bitcoin (BTC) extended its decline on Tuesday, falling below $103,000 amid profit-taking by traders following last week’s double-digit rally. The move comes ahead of the US Consumer Price Index (CPI) release, a key inflation gauge that could add volatility to risk assets.BTC touched an intraday low of $100,700 during the New York session on Monday before rebounding slightly to $102,300 by early Tuesday in Europe. Santiment’s Network Realized Profit/Loss metric showed a spike, indicating many holders sold at a profit, contributing to short-term pressure.The US CPI for April is expected to rise 2.4% year-over-year, unchanged from March. A surprise increase could boost the US dollar and weaken risk sentiment, potentially pushing BTC lower. Conversely, softer inflation data could revive risk appetite and lift crypto markets. Bitfinex analysts say supportive macro conditions and capital inflows, like the $920 million into spot BTC ETFs in the last two weeks, suggest any dip may be short-lived.<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/Bitcoin Falls Below $103K as Traders Take Profits Ahead of US CPI Data

FXStreet

Bitcoin Falls Below $103K as Traders Take Profits Ahead of US CPI Data

West Africa’s regional stock exchange closed higher on Monday, with 25 stocks gaining and 10 declining. The Composite index rose 0.20% to 295.60 points, while the BRVM-30 climbed 0.29% to 148.56 points. The Prestige index added 0.25%, reaching 121.71 points.SITAB CI advanced 7.47% to 11,800 FCFA, increasing its market capitalization by 10 billion FCFA. BERNABE CI rose 7.50% to 1,075 FCFA and UNIWAX CI gained 7.32% to 660 FCFA. On the downside, ORAGROUP TOGO fell 3.70% to 1,560 FCFA following the release of its 2024 and Q1 2025 earnings. TOTAL CI declined 2.93% to 2,320 FCFA, while BIIC BN dropped 2.59% to 5,450 FCFA.Trading volume reached 914 million FCFA, with SONATEL and BOA CI accounting for 198.3 million FCFA, or 37.56% of total volume. Their status as benchmark stocks continued to drive investor activity.<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 Closes Higher as Sitab, Bernabe Lead Gainers

BRVM Stock Market Closes Higher as Sitab, Bernabe Lead Gainers

Tunis-based fintech startup Konnect Networks has secured an undisclosed investment from Attijariwafa Ventures, part of a broader round that includes participation from Utopia Capital Management, 54 Collective, Visa, Plug and Play Tech Center, Renew Capital, Digital Africa Ventures, and Sunny Side Venture Partners.Founded in 2021 by Amin Ben Abderrahman, Konnect offers payment orchestration solutions for businesses of all sizes, including seamless payment links, e-commerce plugins, and API-based integration for both online and point-of-sale transactions. The platform facilitates payment aggregation and real-time transaction processing.The new capital will support Konnect’s regional expansion and ongoing product innovation. The company is positioning itself as Tunisia’s leading digital payments infrastructure provider, with ambitions to advance financial inclusion across North 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/Tunisia’s Konnect Networks Secures Funding to Scale Fintech Platform

Wamda

Tunisia’s Konnect Networks Secures Funding to Scale Fintech Platform

Cairo-based education technology startup Career 180 has secured a six-figure investment from Den VC to expand its career development platform into Saudi Arabia, Oman, and Malta. The funding will be used to scale its learning management system (LMS), localise course content into Arabic, and strengthen its presence in new markets.Founded in 2016, Career 180 offers career counselling, workshops, and practical training programs aimed at aligning youth skills with labour market demands. The startup has already helped thousands of users enter the workforce and now aims to train over 1 million individuals and hire 50,000 new beneficiaries, focusing on unemployed youth.Co-founder Shrouk Alaa described the company’s mission as “more than just a business,” emphasizing its focus on helping young people find direction and employment opportunities. The startup is also partnering with VMS, a MENA-focused venture studio, to accelerate its Saudi market entry.<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 EdTech Career 180 Gets Six-Figure Funding for Regional Expansion

Egypt EdTech Career 180 Gets Six-Figure Funding for Regional Expansion

IHS Towers, Africa’s largest independent telecom tower operator, saw more than 3 million shares traded on the NYSE on May 7, marking its highest single-day volume in nearly two years. The surge accompanied a 9.7% rise in its share price to $5.70, underscoring renewed investor confidence in infrastructure providers amid improving conditions for Africa’s top telecom operators.The company’s fortunes are closely tied to Nigeria, which contributed 58.3% of IHS’s total revenue in 2024. Its two anchor clients, MTN Nigeria and Airtel Nigeria, jointly accounted for 57% of that revenue. As both telcos return to profitability in 2025 following years of currency shocks and cost inflation, investors are betting on IHS as a key beneficiary of sector recovery.IHS’s stock has climbed over 51% year-to-date, outperforming the S&amp;P 500 and the broader tech sector. The company posted $437.8 million in Q4 2024 revenue and $0.73 EPS, beating analyst forecasts. It has locked in 72% of its 2024 revenue under long-term contracts, improving cash flow predictability and reducing downside risk.<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/New York-Listed IHS Towers Sees Record Trading Volume

New York-Listed IHS Towers Sees Record Trading Volume

Safaricom grew its full-year profit by 11% to $540 million (KES 69.8 billion) in 2024, marking a return to growth after two years of earnings pressure tied to its expansion into Ethiopia. The recovery was driven by easing losses in Ethiopia and continued growth in mobile data and M-Pesa revenue in Kenya.Service revenue rose 10% to $2.8 billion (KES 371.4 billion) in the year to March, with total customer numbers rising 16% to 57.1 million. The Kenyan unit remained the group’s primary profit driver, while Ethiopia contributed 9% of service revenue, up from near-zero a year ago.Losses from Ethiopia fell sharply to $165.7 million (KES 21.4 billion) as subscriber numbers increased and Safaricom scaled its M-Pesa operations, launched in the market in August 2023. CFO Dilip Pal noted Ethiopia is “making more confident steps,” with improving unit economics.<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 Returns to Profit Growth as Ethiopia Losses Narrow

Safaricom Returns to Profit Growth as Ethiopia Losses Narrow

Safaricom is exploring partnerships with satellite internet providers as part of a strategy to expand broadband access to underserved regions, CEO Peter Ndegwa announced during the company’s latest earnings call. The move comes as global players like Starlink gain ground in Kenya’s rural internet market, where fixed infrastructure remains limited.“We are focused on delivering fixed broadband solutions through fibre, fixed wireless, satellite, and other evolving technologies,” Ndegwa said. “We are also looking at opportunities to partner with satellite to offer more options and reach for our customers.”Safaricom holds 36.1% of Kenya’s broadband market but faces rising competition. Internet penetration in Kenya stands at just 40%, leaving room for growth, especially in rural areas where traditional infrastructure is harder to deploy.<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 Eyes Satellite Partnerships to Defend Broadband Market Share

Safaricom Eyes Satellite Partnerships to Defend Broadband Market Share

Airtel Africa plans to list its mobile money unit, Airtel Money, in the first half of 2026, as the telecom operator aims to unlock value and accelerate growth in Africa’s expanding digital payments market. The IPO will give Airtel Money operational independence and capital to compete with regional fintech giants like Safaricom’s M-Pesa and MTN’s MoMo, which dominate mobile financial services across East, West, and Central Africa.Operating in 14 African countries, Airtel Africa said the public listing would enhance visibility and scale for Airtel Money. While the company did not specify the exchange or fundraising target, it reaffirmed its IPO intention, first floated in 2024 with an initial July 2025 target.Airtel Money’s revenues grew 20.7% in 2024, processing $112 billion in transactions. With over 30 million active users, the platform is focused on expanding in underpenetrated markets like Nigeria, Uganda, Tanzania, and the DRC.<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/Airtel Africa Confirms 2026 IPO Plan for Mobile Money Unit

Airtel Africa Confirms 2026 IPO Plan for Mobile Money Unit

CWG Plc, one of Nigeria’s largest IT services and infrastructure firms, is expanding into East Africa and the Middle East after reporting its first billion-naira profit in 13 years. The 32-year-old company posted ₦3.04 billion ($1.89 million) in net profit for 2024—a 428% increase year-on-year—marking a major turnaround and repositioning itself as a pan-African digital enabler.With a footprint in Nigeria, Ghana, Uganda, and Cameroon, CWG is scaling its proprietary software platforms across banking, SME, and cooperative sectors. Its tech arm, Fifthlab, grew revenue by 558% in 2024, while digital products like SMERP, KuleanPay, and BillsnPay recorded 1,000%–2,000% usage growth.In Q1 2025 alone, CWG reported ₦1.48 billion ($921,281) in after-tax profit, largely driven by rising IT spend from Nigerian banks, which increased 33% year-on-year to ₦60.3 billion ($37.5 million). CWG has not disclosed the exact countries in its expansion plan but says two new markets will be added. The company also supported MTN Nigeria’s digital self-service kiosk rollout and expanded Finacle core banking deployments in partnership with Infosys.<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 CWG Posts First Billion-Naira Profit in Over a Decade

Nigeria’s CWG Posts First Billion-Naira Profit in Over a Decade

Nigeria’s top banks recorded record earnings in 2024 but trailed their African peers in brand equity growth, according to the 2025 African Banking report by Brand Finance. Despite earning ₦4.14 trillion ($2.58 billion), the combined brand value of Access Bank, GTCO, Zenith Bank, UBA, and First Bank rose only 5.37% to $1.57 billion.By contrast, banks in Kenya and South Africa posted double-digit brand equity growth—25.1% and 23.6% respectively—driven by stronger digital innovation and customer trust. Egypt's banking sector also outpaced Nigeria, with 8.03% growth in brand value.Zenith Bank and UBA were the only two Nigerian banks on the top 22 list to experience a decline in brand value, down 16% and 26%, respectively. In contrast, GTCO, First Bank, and Access Bank saw modest increases of 31.6%, 25.4%, and 17.8%. While Nigerian banks spent ₦268.7 billion ($171.5 million) on IT upgrades in 2024—up 74.5% year-on-year—analysts say these investments have not yet translated into deeper financial inclusion or stronger brand loyalty.<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 Post Record Profits but Lag in Brand Growth

Nigerian Banks Post Record Profits but Lag in Brand Growth

On March 25, 2025, Nigeria formalized the legal status of cryptocurrencies by signing the Investments and Securities Act (ISA 2025) into law. President Bola Tinubu’s approval of the 226-page Act marks the clearest regulatory stance Nigeria has taken on digital assets, officially recognizing them as securities and placing them under the supervision of the Securities and Exchange Commission (SEC).Under the new law, the SEC now has sweeping powers over digital asset activities—including issuance, trading, promotion, and compliance enforcement. The regulator can audit exchanges, suspend firms, penalize violations, and enforce rules on token offerings. The law also defines digital assets broadly to include cryptocurrencies, stablecoins, tokenized assets, and any blockchain-issued instruments with value or trading utility.The move follows years of regulatory ambiguity, including the Central Bank’s 2021 ban on crypto-related bank transactions and the SEC’s interim sandbox launched in 2024. Now, crypto is formally part of Nigeria’s capital markets framework.<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 Legalizes Crypto with Securities Law But Questions Remain

Nigeria Legalizes Crypto with Securities Law But Questions Remain

Safaricom plans to introduce savings and credit products in Ethiopia to accelerate the performance of M-PESA, its mobile money service, which has struggled to gain traction since launching in August 2023. The move comes as the platform faces strong competition from Ethio Telecom’s Telebirr, which had over 51.5 million subscribers as of February 2025.During its latest earnings call, Safaricom reported that only KES 410 million ($3.2 million) of its Ethiopian service revenue came from messaging, wholesale, fixed line, and M-PESA combined, just a fraction of the KES 8.89 billion ($68.9 million) in total service revenue. By comparison, M-PESA accounts for 44.2% of service revenue in Kenya, with more than 35 million users.“Introducing savings and credit will help transition M-PESA from a payments tool to a broader financial platform,” said CEO Peter Ndegwa, without providing a rollout timeline. Safaricom and its partners have invested $1 billion in Ethiopia, including $150 million for an M-PESA license. With Ethiopia’s financial sector opening up, marked by the launch of the Ethiopian Securities Exchange and licensing of two investment banks, Safaricom is betting the reforms will support long-term growth.<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 Eyes Savings and Credit to Boost M-PESA in Ethiopia

Safaricom Eyes Savings and Credit to Boost M-PESA in Ethiopia

BluePeak Private Capital aims to raise $250 million for its Africa-focused private credit fund, with $80 million already secured in a first close backed by European development finance institutions. Investors include British International Investment (BII), FMO, Swedfund, and the Swiss Investment Fund for Emerging Markets.The fund targets mid-sized African companies typically underserved by banks, offering non-dilutive growth capital through private debt. Initial investments will range from $10 million to $20 million, focusing on defensive sectors like agribusiness, manufacturing, and healthcare.“We are seeing more interest in the market,” said Jo Fry, investment director at BII. “Private credit funds are filling a gap for mid-market firms seeking flexible growth capital.” BluePeak’s co-founder, Walid Cherif said the fund expects to announce its first deal within a month. With global aid shifting inward, especially from the U.S., which is pulling back $555 million from the African Development Bank, development finance institutions see private credit as a vital financing tool for African growth.<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/European DFIs Back $250M African Private Credit Fund

Bloomberg

European DFIs Back $250M African Private Credit Fund

Cairo-based proptech startup Nawy has raised $75 million in Series A funding—$52 million in equity and $23 million in debt—to expand its real estate platform across North Africa and the Middle East. The round was led by Partech Africa and includes participation from e&amp; Capital, Nclude Fund, Endeavor Catalyst, and other regional and global investors.Founded in 2019 by Mostafa El Beltagy and four co-founders, Nawy digitizes the process of buying, selling, and financing real estate in Egypt, combining a listings platform with in-house brokerage and financial services. The startup has recorded over $1.4 billion in GMV in 2024, up from $38 million in 2020.The platform’s growth has come despite Egypt’s economic headwinds, including a 69% devaluation of the pound, as demand from the diaspora and interest in real estate as an inflation hedge continue to drive activity. The Series A round, one of the largest for an African startup, will support expansion and the integration of AI across its platform.<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 Nawy Raises $75M Series A to Scale Proptech Platform

TechCrunch

Egypt’s Nawy Raises $75M Series A to Scale Proptech Platform

A $69 million (CFA 40 billion) innovation fund has been launched to support DeepTech ventures across Francophone Africa. Announced in Yaoundé, Cameroon, the initiative is backed by the African Intellectual Property Organization (OAPI) and the African Guarantee Fund (AGF), with a goal to finance 1,000 innovation-driven projects over the next five years across OAPI’s 17 member countries.The fund will provide financial and technical support to startups and SMEs in sectors such as artificial intelligence, biotechnology, clean energy, and advanced manufacturing. AGF will offer credit guarantees to improve access to bank financing, while startups will receive mentorship and commercialization assistance tailored to patented innovations.OAPI is investing CFA 5 billion ($8.6 million) in AGF, becoming its second African shareholder after the African Development Bank (AfDB). The fund’s broader capital pool includes support from international partners in Denmark, France, Germany, and the U.S.<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/Francophone Africa DeepTech Startups to Get Backing From New $69M Fund

Tech in Africa

Francophone Africa DeepTech Startups to Get Backing From New $69M Fund

Egyptian fintech unicorn MNT-Halan has completed a landmark EGP2.5 billion (US$49 million) corporate bond issuance, said to be the largest in Egypt to date. The bond, rated BBB+ by Middle East Ratings and Investor Services (MERIS), is structured in two tranches: EGP2 billion with a 12-month term and EGP500 million with a 36-month term.Founded in 2018, MNT-Halan operates a digital ecosystem focused on financial inclusion through small business lending, payments, consumer finance, and e-commerce. The company has disbursed over $11 billion in loans and serves more than 8 million users globally.“This issuance reflects the strength of our financial position and creates a strategic new funding avenue,” said CEO Mounir Nakhla. The move comes just months after MNT-Halan raised $157.5 million in equity funding, further reinforcing its balance sheet as it expands its reach in Egypt and beyond.<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/MNT-Halan Raises $49M Via Egypt’s Largest Corporate Bond Issuance

MNT-Halan Raises $49M Via Egypt’s Largest Corporate Bond Issuance

Global markets showed mixed performance in the week ending May 9, 2025, with African exchanges mostly positive, U.S. indices volatile amid trade tensions, and Asian and European bourses edging higher. Investors digested economic data, earnings, and geopolitical developments, shaping divergent regional trends across equities.BRVM (Bourse Régionale des Valeurs Mobilières)<ul><li>BRVM Composite Index rose 1.9% to 295.02.</li><li>BRVM 30 Index advanced 1.94% to 148.13.</li><li>Market breadth was positive with 25 stocks up, 17 down, and 6 unchanged.</li><li>Top gainer: UNIWAX Côte d’Ivoire surged +36.67%.</li><li>Biggest loser: TOTAL Côte d’Ivoire, down -27.13% to 2,390 FCFA.</li><li>Trading volume: 288,693 shares, down 78%, while turnover rose 49% from the prior session.</li><li>Market cap: XOF 11.4 trillion.</li></ul>Nigerian Stock Exchange (NGX)<ul><li>NGX All-Share Index fell 0.46% to 108,733.40.</li><li>Losses were led by Transcorp Power (-9.98%) and Haldane McCall (-9.57%).</li><li>Top gainers: Sterling Bank and Associated Bus Company, both up 10%.</li><li>Total shares traded: 459 million, with a market value of NGN 11.16 trillion.</li><li>Decline in volume (-17%) and deals (-6%).</li></ul>Johannesburg Stock Exchange (JSE)<ul><li>FTSE/JSE All Share Index rose 1.07% to 91,861.21.</li><li>Visual International Holdings soared 100%, leading gainers.</li><li>York Timber Holdings dropped -7.77%, worst performer.</li><li>Volume: 276.5 million shares, market value ZAR 22.27 billion, market cap at ZAR 21.4 trillion.</li></ul>Nairobi Securities Exchange (NSE)<ul><li>NSE All Share Index (NASI) added 0.59% to close at 126.87.</li><li>Eveready East Africa gained +9.76%, Sanlam Kenya plunged -9.82%.</li><li>Traded volume: 24.59 million shares, value KES 457.7 million.</li><li>&nbsp;Market cap: KES 1.98 trillion.</li></ul>United States<ul><li>All three major indices were volatile, affected by U.S.-China trade negotiations.</li><li>Dow Jones Industrial Average: Fell 0.2% on the week, closing at 41,249.38.</li><li>S&amp;P 500: Down 0.5% to 5,659.91.</li><li>Nasdaq Composite: Slipped 0.3%, ending at 17,928.92.</li><li>Trade tension loomed as President Trump hinted at 80% tariffs on China despite some progress in talks.</li></ul>EuropeFTSE 100 (UK)<ul><li>Closed the week up 0.68% at 8,554.80.</li><li>Momentum was moderate, with fluctuations across the energy and industrial sectors.</li></ul>Euro Stoxx 50<ul><li>Rose 0.73% to 5,309.74.</li><li>Strength seen across financials and luxury goods ahead of earnings reports.</li></ul>Asia<ul><li>SSE Composite Index (Shanghai)</li><li>Gained 1.76% to 3,342.00, one of the strongest weekly performances globally.</li><li>Positive sentiment driven by expectations of policy support and tech rebound.</li></ul>

Daba Finance/Weekly Markets Pulse: Africa Outperforms as Trade Talks Rattle Markets

Weekly Markets Pulse: Africa Outperforms as Trade Talks Rattle Markets

Gold’s ongoing rally is proving to be a financial buffer for several African economies facing fiscal strain, as the metal’s safe-haven appeal strengthens amid global market volatility. Since the start of 2025, gold prices have climbed nearly 25%, offering export windfalls and currency support for resource-rich nations.In Zimbabwe, small-scale miners drove a 61% year-on-year surge in gold output in April, with informal production more than doubling. The boom comes as the country battles chronic economic challenges. Zimbabwe has also restarted minting bullion coins to shore up its monetary system. Also Read: <a href="https://dabafinance.substack.com/p/pulse54-africas-gold-hotspots" rel="noopener noreferrer" target="_blank">Pulse54 Africa's Gold Hotspots</a>Ghana, still managing the aftermath of a debt crisis, saw gold export earnings rise by 60% in the first two months of the year. Its central bank has increased gold reserves, contributing to a stronger cedi—now the best-performing currency against the US dollar since April.Namibia is also expanding its gold holdings. But while governments benefit, formal mining operations face setbacks. Mali’s biggest mine remains closed due to a tax dispute between the military-led government and Barrick. In Ghana, regulatory hurdles have stalled projects by AngloGold Ashanti and Gold Fields.<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 Rally Offers Lifeline for African Economies But Risks Persist

Gold Rally Offers Lifeline for African Economies But Risks Persist

South African state utility Eskom said on Monday it expects no power cuts through the southern hemisphere winter, ending August 2025, if unplanned outages remain below 13,000 megawatts. The company’s baseline scenario forecasts a stable power supply, following improved plant performance over the past year.Eskom CEO Dan Marokane told reporters that if breakdowns increase to 14,000 MW, there could be a single day of outages, and up to 21 days if they rise to 15,000 MW. Eskom currently has over 46,000 MW in nominal generation capacity, primarily from coal, with additional supply from nuclear, diesel, and hydropower sources.The utility recorded no electricity cuts for nine months last year, including during winter, a significant improvement after over a decade of power supply instability that has weighed on economic growth.Marokane acknowledged 14 days of load-shedding earlier in 2025 but said this was a temporary setback, emphasizing continued progress in operational performance.<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 Eskom Sees Low Power-Cut Risk Over Next Four Months

Reuters

South Africa’s Eskom Sees Low Power-Cut Risk Over Next Four Months

Airtel Africa has partnered with SpaceX to roll out Starlink’s satellite internet service across nine African countries to expand high-speed connectivity. The agreement, announced Monday, marks a major move to bridge the continent’s digital divide.The rollout will begin in Nigeria, Chad, Kenya, Zambia, Malawi, Rwanda, Niger, Madagascar, and the Democratic Republic of Congo—targeting rural and remote communities with limited access to reliable internet. Starlink, currently licensed in 9 of Airtel’s 14 markets, will integrate with Airtel’s infrastructure to serve its 163.1 million subscribers.Africa remains home to over 600 million people without internet access. By using Starlink’s low Earth orbit satellites for last-mile connectivity and Airtel’s mobile network for reach, the companies aim to deliver faster, more stable internet to individuals, businesses, schools, and clinics. The partnership also explores using Starlink for cellular backhaul to extend Airtel’s mobile network in areas lacking fiber or tower infrastructure.<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/Airtel Partners SpaceX to Launch Starlink Internet in Nine Countries

Airtel Partners SpaceX to Launch Starlink Internet in Nine Countries

Morocco has launched derivatives trading on its Casablanca Stock Exchange (CSE), introducing a futures contract based on the MASI 20 index, which tracks the 20 most liquid stocks in the market. The move is part of a broader strategy to deepen capital markets, attract more investors, and regain MSCI emerging-market classification after 12 years.The MASI 20 futures contract, approved by the Moroccan Capital Market Authority (AMMC), trades on a quarterly cycle and settles in cash. Each index point is worth 10 Moroccan dirhams, with a 1,000 MAD initial margin requirement. Trading is continuous and aligned with international standards to accommodate both institutional and professional investors.CSE CEO Tarik Senhaji said derivatives will boost liquidity and improve funding access for Moroccan companies. The bourse also plans to introduce additional instruments, including interest rate futures, single-stock futures, equity options, and listed REITs. Moroccan equities are up 36% year-to-date, outperforming the 7% average return in frontier markets.<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 Launches Derivatives Market as It Eyes Emerging-Market Status

Morocco Launches Derivatives Market as It Eyes Emerging-Market Status

Nigerian fintech PalmPay will launch operations in South Africa, Côte d’Ivoire, Uganda, and Tanzania before the end of 2025, Managing Director Chika Nwosu announced at a press conference on Wednesday. The expansion follows sustained momentum in Nigeria, where the platform processed over 15 million daily transactions in Q1 2025.The move will bring PalmPay’s footprint to six African countries, after earlier rollouts in Ghana and Kenya. In Tanzania, PalmPay plans to offer B2B services, though offerings in other new markets were not disclosed. The expansion may pave the way for a future public listing, Nwosu said.PalmPay now counts more than 35 million users in Nigeria and handles an average of 50 transactions per user monthly, with a reported 99.5% success rate. The company also paid ₦4 billion ($2.4 million) in interest to 9 million users via its wealth product in 2024, suggesting it held over ₦18 billion ($11 million) in deposits on that product alone.<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/PalmPay to Expand into Four More African Markets by End-2025

PalmPay to Expand into Four More African Markets by End-2025

Lagos-based health-tech startup Platos Health has raised $1.4 million in pre-seed funding to expand its AI-powered metabolic health platform, Platos Monitor. The round was led by Google for Startups, with participation from Invest International and angel investors from Google, Tesla, and Unicredit.Founded in 2020 by Joseph Fakayode, Platos Health enables users to monitor key health metrics—including heart rate, body fat, BMI, and hydration—using its medical-grade device, the Platos Body Monitor. The device is already distributed through 300 pharmacies in Nigeria and integrates with health ecosystems like Apple Health and Google Health Connect.With chronic diseases rising and Nigeria facing a severe shortage of medical professionals, Platos is targeting early detection and prevention. The startup claims 33% of users experienced significant weight loss within three months and that over half of surveyed users would feel disappointed without access to the product. The funding will support product development, research, and wider rollout of the platform in 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/Nigeria’s Platos Raises $1.4M to Scale Preventive Health Platform

Nigeria’s Platos Raises $1.4M to Scale Preventive Health Platform

Egyptian healthtech startup i’SUPPLY has secured $3 million in Sharia-compliant revenue-based revolving financing from Bokra, a digital investment platform focused on impact-driven projects across the MENA region.Founded in 2022, i’SUPPLY operates a tech-enabled distribution platform connecting over 10,000 pharmacies with more than 200 small-to-medium pharmaceutical distributors. The platform offers access to more than 10,000 medical products, helping predict and resolve supply chain disruptions in real time.The new funding will support operational scale-up, with a focus on improving access to medicine across Egypt, especially in underserved regions. The revenue-based structure provides non-dilutive capital aligned with Islamic finance principles, allowing i’SUPPLY to grow without giving up equity.<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 i’SUPPLY Raises $3M to Expand Pharmaceutical Access

Egypt’s i’SUPPLY Raises $3M to Expand Pharmaceutical Access

Ghanaian fintech Zeepay has secured $18 million in senior secured debt financing to strengthen its working capital and support its expansion across Africa. The debt facility, arranged by South Africa-based Verdant IMAP, will provide the company with float financing essential for managing real-time liquidity in mobile money and remittance operations.Founded in 2014, Zeepay connects mobile wallets, bank accounts, ATMs, and other digital assets to international money transfer and payment services. Operating in over 20 countries, the company enables instant settlement of remittances into mobile money wallets across Africa and the Caribbean.The facility features a shared-collateral structure, where multiple lenders pledge assets to a common pool held by a neutral security trustee. An independent monitoring agent tracks the value of the collateral daily to ensure transparency and risk management.<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/Zeepay Secures $18M Debt Facility to Support Remittance Liquidity

Zeepay Secures $18M Debt Facility to Support Remittance Liquidity

The Ghana Venture Capital &amp; Private Equity Association (GVCA) has launched an industry-wide Compact to increase local institutional investment into venture capital and private equity across Ghana and Africa. The initiative brings together key players in the pensions, insurance, and investment sectors to commit capital towards homegrown private funds.GVCA, founded in 2021, serves as a central platform for Ghana’s private investment ecosystem, linking institutional investors, fund managers, and service providers. The Compact was launched at a stakeholder conference attended by representatives from firms such as Deloitte, EY, KPMG, Aruwa Capital, Oasis Capital, Savannah Impact Advisory, and the Venture Capital Trust Fund.Regulatory and ecosystem partners like the Securities and Exchange Commission, National Pensions Regulatory Authority, Impact Investing Ghana, and Ashesi University Endowment Fund also joined the Compact.<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 VC Association Launches Initative to Boost Local Investments

Ghana VC Association Launches Initative to Boost Local Investments

US-based accelerator Techstars has revised its funding model to align with rival Y Combinator, increasing its standard investment offer to $220,000 for startups globally, including across Africa, where it has already backed over 100 tech ventures.Under the new structure, startups will receive $20,000 for 5% equity. An additional $200,000 will be issued via an uncapped SAFE (Simple Agreement for Future Equity) note with a “most favoured nation” clause. This clause ensures Techstars will convert the SAFE at the best terms granted to any future investor during a priced round.The updated model brings Techstars in line with Y Combinator’s 2022 funding terms and reflects a growing trend among global accelerators to standardize early-stage deals and remain competitive in a more crowded seed-stage landscape.<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/Techstars Matches Y Combinator with Updated $220K Investment Terms

Techstars Matches Y Combinator with Updated $220K Investment Terms

Egyptian fintech platform Money Fellows has secured $13 million in a new financing round, bringing its total funding to over $60 million since launch. The company digitizes traditional rotating savings and credit associations (ROSCAs), locally known as “Gameya,” offering users a mobile-based alternative to informal savings systems.The latest investment round was co-led by Al Mada Ventures (AMV) and DPI Venture Capital via the Nclude Fund, with support from Partech and CommerzVentures. The funds will be used to enhance the platform’s technology and support regional expansion as the company scales beyond its current 8.5 million users and more than 350 local and regional partnerships.Money Fellows allows users to save, borrow, and manage financial commitments within trusted social circles, offering an accessible alternative to formal banking, particularly for underserved populations. The platform aims to strengthen financial inclusion by making savings and credit tools more secure, efficient, and culturally familiar.<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 Money Fellows Raises $13M to Expand Digital Savings Platform

Egypt’s Money Fellows Raises $13M to Expand Digital Savings Platform

Bernabe Côte d'Ivoire (<a href="https://www.dabafinance.com/en/capitalmarkets/BNBC" rel="noopener noreferrer" target="_blank">BRVM: BNBC</a>) posted annual net profit of 7.31 million CFA francs ($12,700) for 2024, down 79% from 35.58 million CFA francs in 2023, according to financial statements released ahead of its June 10 shareholder meeting.Revenue fell 1.2% to 45.37 billion CFA francs ($78.6 million) from 45.96 billion CFA francs in 2023. Operating profit declined 24% to 1.19 billion CFA francs ($2.06 million).The Abidjan-based company reported a significant financial loss of 1.28 billion CFA francs ($2.21 million) compared to a 702.5 million CFA franc loss in 2023. Total assets decreased to 50.18 billion CFA francs ($86.9 million) from 53.17 billion CFA francs at the end of 2023. The company maintained its capital at 1.67 billion CFA francs ($2.89 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/Bernabe Côte d'Ivoire Posts 79% Net Profit Decline in 2024

Bernabe Côte d'Ivoire Posts 79% Net Profit Decline in 2024

Servair Abidjan (<a href="https://www.dabafinance.com/en/capitalmarkets/ABJC" rel="noopener noreferrer" target="_blank">BRVM: ABJC</a>), an airport services provider and Gategroup member, reported first-quarter revenue of 3.18 billion CFA francs ($5.5 million), up 3.2% from the same period last year. Net profit fell 6.8% to 346 million CFA francs ($599,000) from 371 million CFA francs in Q1 2024, according to a company statement. Operating profit declined 6.9% to 451 million CFA francs ($781,000).The company attributed the profit drop to exceptional charges related to personnel departure costs and provisions for doubtful receivables. A dispute with local BCEAO authorities has prevented the company from importing food supplies, further impacting results.The airline catering and ground handling firm reported 2% growth in aviation-related activities. The company also signed a new contract with Abidjan Terminal for non-aviation services.<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/Servair Abidjan Reports Profit Decline in Q1 Despite Revenue Growth

Servair Abidjan Reports Profit Decline in Q1 Despite Revenue Growth

Ghana’s inflation slowed to 21.2% in April 2025, its lowest level in eight months, as the strengthening of the cedi helped reduce the cost of imports, according to Government Statistician Alhassan Iddrisu.The year-on-year inflation rate eased from 22.4% in March, marking the fifth consecutive month of disinflation. On a monthly basis, consumer prices rose by 0.8%. Both food and non-food categories contributed to the decline. Food inflation dropped to 25.0% from 26.5% in the previous month, while non-food inflation slowed to 17.9% from 18.7%.The Ghanaian cedi has been one of the world’s best-performing currencies in 2025, strengthening against the dollar and helping to ease import-related price pressures in a country heavily reliant on foreign goods.<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 Eases for Fifth Straight Month to 21.2% in April

Ghana Inflation Eases for Fifth Straight Month to 21.2% in April

Coris Bank International (<a href="https://www.dabafinance.com/en/capitalmarkets/CBIBF" rel="noopener noreferrer" target="_blank">BRVM: CBIBF</a>) posted net banking income of 28.7 billion CFA francs ($49.7 million) in the first quarter of 2025, up 2.8% compared to the same period last year, following a challenging 2024. Net income reached 17.6 billion CFA francs ($30.5 million) in Q1, showing a 5.9% increase on a rolling basis. This comes after the bank reported a 25.4% decline in 2024 annual net profit to 47.9 billion CFA francs ($83 million) from 64.2 billion CFA francs in 2023.The bank's 2024 performance showed mixed results, with net banking income increasing 1.4% to 131 billion CFA francs ($226.9 million), while operating expenses rose 17.6% to 42.8 billion CFA francs ($74.1 million). Risk costs surged 72.5% to 40.5 billion CFA francs ($70.1 million) due to portfolio cleanup actions.Despite these challenges, customer deposits grew 14.8% to 1,754.5 billion CFA francs ($3.04 billion) in 2024, while net loans increased 3.7% to 1,258.9 billion CFA francs ($2.18 billion). The Burkina Faso-based bank maintained its leadership position in the national banking sector despite security and political challenges affecting economic activity.<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/Coris Bank Net Profit Rises in Q1 After Mixed 2024 Performance

Coris Bank Net Profit Rises in Q1 After Mixed 2024 Performance

TotalEnergies Marketing Côte d'Ivoire (<a href="https://www.dabafinance.com/en/capitalmarkets/TTLC" rel="noopener noreferrer" target="_blank">BRVM: TTLC</a>) posted first-quarter revenue of 147.98 billion CFA francs ($256.3 million), down 5.8% from 157.07 billion CFA francs in the same period last year.Net income fell 30.6% to 2.21 billion CFA francs ($3.82 million) from 3.18 billion CFA francs in Q1 2024, according to a company statement released today. Operating income before tax decreased 9.3% to 3.14 billion CFA francs ($5.43 million).The company attributed the significant profit decline to reduced off-network sales during the first quarter. TotalEnergies Marketing Côte d'Ivoire operates as a subsidiary of global energy company TotalEnergies SE. The Abidjan-based firm has registered capital of 3.15 billion CFA francs ($5.45 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/Total Ivorian Subsidiary Revenue Drops 5.8% in Q1

Total Ivorian Subsidiary Revenue Drops 5.8% in Q1

Banque Internationale pour le Commerce et l'Industrie de la Côte d'Ivoire (<a href="https://www.dabafinance.com/en/capitalmarkets/BICC" rel="noopener noreferrer" target="_blank">BRVM: BICC</a>) reported first-quarter net profit of 8.01 billion XOF ($13.9 million), up 23% from 6.51 billion XOF ($11.3 million) a year earlier. Net banking income rose 9.3% to 18.13 billion XOF ($31.4 million) from 16.59 billion XOF ($28.7 million) in the same period last year, the bank said in a statement.Pre-tax income increased 23.3% to 9.27 billion XOF ($16.1 million). Net loans grew 12.2% year-on-year to 547.78 billion XOF ($948.7 million), while customer deposits jumped 16% to 870.54 billion XOF ($1.51 billion).The improved performance stemmed from higher interest margins on the expanded loan portfolio and strong fee income growth. BICICI, part of the BNP Paribas Group, plans to maintain its commercial momentum while focusing on risk management and cost control in upcoming quarters.<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 Lending BICI Reports 23% First-Quarter Profit Growth

Ivorian Lending BICI Reports 23% First-Quarter Profit Growth

Société de Distribution d'Eau de la Côte d'Ivoire (<a href="https://www.dabafinance.com/en/capitalmarkets/SDCC" rel="noopener noreferrer" target="_blank">BRVM: SDCC</a>) reported first-quarter net profit of 604 million XOF ($1.05 million), up 17% from 504 million XOF ($873,000) a year earlier. Revenue rose 8% to 41.64 billion XOF ($72.1 million) from 38.25 billion XOF ($66.2 million) in the same period last year, the Ivorian water utility said in a statement.Operating income fell 27% to 1.09 billion XOF ($1.9 million), reflecting higher direct operating costs due to inflation and increased energy expenses. Financial loss widened 33% to 179 million XOF ($310,000). Income from ordinary activities decreased 39% to 915 million XOF ($1.6 million), while tax expenses dropped significantly by 162% to 237 million XOF ($410,000), boosting the bottom line.The revenue growth stemmed from increased water billing volumes, fraud prevention efforts, new production facilities coming online, and improved billing ratios across both Abidjan and interior regions. SODECI plans to continue focusing on collections, billing reliability, and cost control to strengthen performance in the second quarter.<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 Sode Cote d'Ivoire First-Quarter Profit Rises 17%

BRVM-Listed Sode Cote d'Ivoire First-Quarter Profit Rises 17%

Société des Caoutchoucs de Grand-Béréby (<a href="https://www.dabafinance.com/en/capitalmarkets/SOGC" rel="noopener noreferrer" target="_blank">BRVM: SOGC</a>), Ivory Coast's major rubber and palm oil producer, reported net profit of 13.11 billion XOF ($22.7 million) for 2024, a 149% increase from 5.27 billion XOF ($9.1 million) in 2023. Revenue from manufactured products rose 22% to 87.25 billion XOF ($151.1 million), driven by higher rubber prices (+29%) and palm kernel oil prices (+14%), the company said. Sales volumes increased for rubber (+2%), palm oil (+1%), and palm kernel oil (+40%).Raw material costs climbed 25% to 24.71 billion XOF ($42.8 million), mainly due to a 30% price increase for coagulum purchased from village planters. Gross operating surplus grew 62% to 24.97 billion XOF ($43.2 million), while operating income reached 18.38 billion XOF ($31.8 million), up 139%.The board proposed dividends of 12.97 billion XOF ($22.5 million), nearly triple the 4.97 billion XOF ($8.6 million) paid last year. Cash flow from operations remained strong at 15.28 billion XOF ($26.5 million), despite a decrease from 16.74 billion XOF ($29 million) in 2023. Investment activities consumed 6.23 billion XOF ($10.8 million). The company ended 2024 with net cash of 1.44 billion XOF ($2.5 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/Ivory Coast Rubber Producer SOGB Reports 149% Profit Rise

Ivory Coast Rubber Producer SOGB Reports 149% Profit Rise

TotalEnergies Marketing Côte d'Ivoire (<a href="https://www.dabafinance.com/en/capitalmarkets/TTLC" rel="noopener noreferrer" target="_blank">BRVM: TTLC</a>) reported net profit of 9.37 billion XOF ($16.2 million) for fiscal year 2024, an 8% increase from 2023, according to company statements. Revenue rose 7% to 630.95 billion XOF ($1.09 billion), driven by higher sales volumes despite rising product costs. Merchandise purchases increased 8% to 556.42 billion XOF ($963.7 million).Operating income fell 13% to 10.49 billion XOF ($18.2 million), while the company posted a financial result of 2.69 billion XOF ($4.7 million), compared to a 54 million XOF ($93,500) loss in 2023. The board proposed dividends of 14 billion XOF ($24.2 million), exceeding the year's profits and drawing from previous retained earnings.Total assets grew to 191.53 billion XOF ($331.7 million), with fixed assets of 71.04 billion XOF ($123 million). Cash flow from operations increased to 27.91 billion XOF ($48.3 million) from 20.5 billion XOF ($35.5 million) in 2023, while investment activities consumed 11.75 billion XOF ($20.4 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/TotalEnergies Côte d'Ivoire Unit Annual Profit Jumps 8%

TotalEnergies Côte d'Ivoire Unit Annual Profit Jumps 8%

Société de Distribution d'Eau de la Côte d'Ivoire (BRVM: <a href="https://www.dabafinance.com/en/capitalmarkets/SDCC" rel="noopener noreferrer" target="_blank">SDCC</a>) posted net income of 3.6 billion XOF ($6.2 million) for 2024, the company said in a statement. The Ivorian water utility reported improved operational metrics despite inflation pressures, with water production up 8% to 378.5 million cubic meters.Revenue reached 172.2 billion XOF ($298.2 million), with operating income at 6.2 billion XOF ($10.7 million). Cash position improved significantly, with net treasury deficit shrinking to 24.9 billion XOF ($43.1 million) from 64.6 billion XOF ($111.9 million) in 2023. This recovery stems from partially collecting sector receivables and optimizing cash flow management.SODECI plans to pay shareholders dividends of 3.6 billion XOF ($6.2 million). For 2025, the company will focus on operational optimization, digital innovation for network supervision, infrastructure development to support universal water access goals, and sustainability initiatives. Côte d'Ivoire's economy grew 6.1% in 2024, maintaining resilience despite global inflation pressures.<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 Water Utility Sodeci to Distribute Over $6M in 2024 Dividends

Ivorian Water Utility Sodeci to Distribute Over $6M in 2024 Dividends

Kenya’s economy is expected to grow by 5.4% in 2025, recovering from a slowdown that saw GDP expand just 4.7% in 2024, the slowest rate since the COVID-19 contraction of 2020, Finance Minister John Mbadi said during a press briefing in Nairobi.The 2025 Economic Survey by the Kenya National Bureau of Statistics (KNBS) attributed the 2024 slowdown to tight fiscal conditions, high interest rates, June 2024’s protests, and extreme weather events. Mbadi said that falling interest rates this year will support economic activity and boost investor confidence.Despite the challenges, key sectors recorded positive growth in 2024. Agriculture grew by 4.6%, financial services by 7.6%, real estate by 5.3%, and information and communication by 7.0%. Public administration and food services saw strong rebounds, expanding 8.2% and 25.7% respectively. However, construction and mining sectors contracted by 0.7% and 9.2% due to reduced demand and lower mineral output.<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 Economy Grows at Slowest Pace Since 2020

Kenya Economy Grows at Slowest Pace Since 2020

Tractafric Motors Côte d'Ivoire (<a href="https://www.dabafinance.com/en/capitalmarkets/PRSC" rel="noopener noreferrer" target="_blank">BRVM: PRSC</a>) reported a net profit of 2.35 billion FCFA ($4.1 million) for fiscal year 2024, rebounding from a 916 million FCFA ($1.6 million) loss in 2023. The Ivorian vehicle distributor posted this profit despite a 4.1% decrease in total assets to 45.2 billion FCFA ($78.3 million) from 51.2 billion FCFA ($88.7 million) a year earlier.Commercial margin improved dramatically to 13.1 billion FCFA ($22.7 million) from negative 167.3 million FCFA (-$289,800) in 2023. Improved inventory management contributed to this recovery, with a positive variation in merchandise stock of 3.2 billion FCFA ($5.5 million).The company will distribute dividends of 2.12 billion FCFA ($3.7 million), representing 207 FCFA per share, with 3.44 billion FCFA ($6 million) carried forward. Customer receivables decreased to 11.1 billion FCFA ($19.2 million) from 14.3 billion FCFA ($24.8 million), indicating improved collection efficiency.<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 Tractafric Motors Returns to Profit After Previous Loss

BRVM-Listed Tractafric Motors Returns to Profit After Previous Loss

Société Multinationale de Bitumes (<a href="https://www.dabafinance.com/en/capitalmarkets/SMBC" rel="noopener noreferrer" target="_blank">BRVM: SMBC</a>) reported a 22% drop in Q1 2025 revenue to 54.8 billion FCFA ($94.9 million) from 70.2 billion FCFA ($121.6 million) a year earlier. The Ivorian bitumen producer saw net profit decline 7% to 2.7 billion FCFA ($4.7 million), while operating profit fell 10% to 4 billion FCFA ($6.9 million).Total bitumen sales volume decreased 30% to 69.8 kilotonnes, compared to 99.7 kilotonnes in Q1 2024. Export sea market sales were particularly affected, falling 53% (33.45 kilotonnes), which the company attributed to "road project scheduling."Despite lower sales, SMB's refining margin improved to 6.56 dollars per barrel from 5.96 dollars per barrel in Q1 2024. The company expects improved performance as Ivory Coast's infrastructure development accelerates under the 2020-2025 National Development Program, which includes new construction and renovation of existing road networks.<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/SMB Reports Revenue Drop as Bitumen Sales Volume Falls

SMB Reports Revenue Drop as Bitumen Sales Volume Falls

Bank of Africa-Burkina Faso (<a href="https://www.dabafinance.com/en/capitalmarkets/BOABF" rel="noopener noreferrer" target="_blank">BRVM: BOABF</a>) reported net banking income of 14.2 billion FCFA ($24.6 million) in Q1 2025, up 2.3% from 13.9 billion FCFA ($24.1 million) a year earlier, driven by an 11.2% increase in banking margin.Despite revenue growth, net profit fell 16.6% to 5.2 billion FCFA ($9 million) compared to 6.2 billion FCFA ($10.7 million) in Q1 2024. Pre-tax profit declined 18.9% to 6 billion FCFA ($10.4 million). The bank reported customer deposits of 809.9 billion FCFA ($1.4 billion) and customer loans of 553.7 billion FCFA ($959 million) as of March 31.In its quarterly statement, the bank noted operations took place "in a national context marked by government efforts to reclaim territory and improve the business climate."<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 Profit Declines Despite Revenue Jump

BOA Burkina Faso Profit Declines Despite Revenue Jump

Bank of Africa-Niger (<a href="https://www.dabafinance.com/en/capitalmarkets/BOAN" rel="noopener noreferrer" target="_blank">BRVM: BOAN</a>) reported a 50.2% decline in net profit to 1.14 billion FCFA ($1.97 million) in Q1 2025, down from 2.29 billion FCFA ($3.96 million) a year earlier. Net banking income fell 16.3% to 4.78 billion FCFA ($8.28 million), reflecting lower loan volumes and increased interbank resource costs. Operating income dropped 38% to 1.69 billion FCFA ($2.93 million).The bank cited "negative effects of sanctions from community institutions imposed on Niger" and suspended development aid as key factors disrupting normal operations. These political developments have significantly affected the banking sector.General expenses rose 3.4% to 3.09 billion FCFA ($5.35 million), with an operating ratio of 64.7%. Risk costs increased by 52.7% as the bank undertook portfolio cleanup efforts. Pre-tax profit decreased 48.5% to 1.26 billion FCFA ($2.18 million) compared to Q1 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/Bank of Africa-Niger Profit Drops 50% Amid Sanctions

Bank of Africa-Niger Profit Drops 50% Amid Sanctions

The International Finance Corporation (IFC) and TLG Capital have reached the first close of a new $75 million private credit fund to support distressed small and medium-sized enterprises (SMEs) across Africa.The fund, TLG Africa Growth Impact Fund II (AGIF II), will offer tailored financing to up to 20 SMEs struggling with existing debt. IFC is committing up to $20 million through its Distressed Asset Recovery Program (DARP), alongside capital from Swedfund, Norfund, Bpifrance, and the UK’s FCDO via its Manufacturing Africa initiative.AGIF II will work with local banks to deploy flexible capital to businesses in key sectors including manufacturing, healthcare, agriculture, and telecoms. TLG Capital says the fund will not only offer financial relief but also provide strategic guidance through partnerships with McKinsey, BDO, ESS, and Ndarama Works.<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/IFC, TLG Capital Launch $75M Fund to Support African SMEs

IFC, TLG Capital Launch $75M Fund to Support African SMEs

Arnergy, a Nigerian solar energy startup, offered a rare liquidity event to employees ahead of closing a $15 million funding round in April 2025. The move allowed current and former staff to sell part of their vested shares, generating payouts of hundreds to thousands of dollars.The stock buyback followed an internal email in February outlining the opportunity. Four employees confirmed receiving payments, including Ololade George-Aremu, Arnergy’s former VP of People and Culture, and senior designer Olayinka Azeez. The company introduced its stock option plan in 2019, rewarding both long-term staff and high performers.Arnergy’s CEO, Femi Adeyemo, said the company prioritized employee liquidity as part of the Series B raise. The startup has sold more than 1,800 solar systems across Nigeria and plans to quadruple its customer base and revenue in 2025. Nigeria’s inflation hit 24.23% in March 2025, adding significance to the payouts, especially for those who needed immediate cash. Still, no employee sold all their shares, citing belief in Arnergy’s future. The liquidity event marked a rare moment of employee wealth creation in Nigeria’s startup sector.<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/Arnergy Employees Gain Liquidity as Startup Closes $15M Round

Arnergy Employees Gain Liquidity as Startup Closes $15M Round

Silverbacks Holdings has exited its investment in LemFi, the Nigerian remittance startup, during its $53 million Series B round in January 2025, TechCabal reported. The exit delivered a 29x return on capital, marking Silverbacks’ eighth profitable exit and its fourth from a Nigerian fintech company.The Africa-focused private equity firm, an early backer of Flutterwave and Moove, followed its strategy of partial exits to return capital to investors. Six of its eight exits have come from Nigerian tech-enabled companies. “This 8th profitable exit, which delivered 29x cash invested, is another testament to the quality of our portfolio’s founders,” said Ibrahim Sagna, executive chairman of Silverbacks Holdings.Private capital exits in Africa have slowed since 2022. AVCA said exits fell to 43 in 2023, down 48% from the previous year. By Q3 2024, only 31 had been recorded. Silverbacks’ portfolio spans sports, media, and tech. It holds stakes in Reliance, Gozem, Shuttlers, Carry1st, and the Cape Town Tigers. The firm also recently invested in African Warriors Fighting Championship and added Sanford Climan, CEO of Entertainment Media Ventures, to its advisory board.<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/Silverbacks Nets 29x Return on LemFi Exit as Fintech Proves Resilient

Silverbacks Nets 29x Return on LemFi Exit as Fintech Proves Resilient

Global stock markets rallied this week on strong tech earnings, improving U.S.-China trade sentiment, and resilient labor data in the U.S. The BRVM led African gains, while global benchmarks posted sharp advances. <h3>BRVM (West Africa)</h3>Composite Index Performance<ul><li>BRVM Composite: +0.57% to 289.52</li><li>BRVM 30: +0.54% to 145.31</li><li>BRVM Prestige: +0.02% to 121.69</li><li>Market capitalization rose by 79.5 billion FCFA, driven by Sonatel CI (+3.17% to 25,895 FCFA).</li></ul>Top Gainers<ul><li><a href="https://www.dabafinance.com/en/capitalmarkets/UNXC" rel="noopener noreferrer" target="_blank">UNIWAX CI</a>: +13.92%</li><li><a href="https://www.dabafinance.com/en/capitalmarkets/SAFC" rel="noopener noreferrer" target="_blank">Safca</a>: +7.69%</li><li><a href="https://www.dabafinance.com/en/capitalmarkets/PRSC" rel="noopener noreferrer" target="_blank">Tractafric Motors CI</a>: +6.67% (lifted by strong dividend news)</li></ul>Top Losers<ul><li><a href="https://www.dabafinance.com/en/capitalmarkets/BOABF" rel="noopener noreferrer" target="_blank">BOA Burkina Faso</a>: -11.81%</li><li><a href="https://www.dabafinance.com/en/capitalmarkets/TTLC" rel="noopener noreferrer" target="_blank">Total CI</a>: -9.39%</li><li><a href="https://www.dabafinance.com/en/capitalmarkets/CBIBF" rel="noopener noreferrer" target="_blank">Coris Bank</a>: -8.92%</li></ul> Other African Markets<h3>Nigeria (NGX)</h3><ul><li>NGX All Share Index: -0.03% to 106,042.57</li><li>Strong gainers included Nigerian Aviation Handling Co, Cadbury, and The Initiates (each +10%)</li><li>Wema Bank was the top laggard, falling 11.92%</li></ul> <h3>Kenya (NSE)</h3><ul><li>NSE All Share Index: -0.43% to 125.60</li><li>Unga Group led with a +6.67% gain</li><li>Standard Chartered Bank slumped 10% on the week</li></ul> <h3>South Africa (JSE)</h3><ul><li>FTSE/JSE All Share Index: +2.77% to 92,332.59</li><li>Small and mid-cap stocks led gains</li><li>PBT Group rose 17.42%, topping the winners’ list</li></ul> <h3>Global Markets</h3>United States<ul><li>S&amp;P 500: +2.85% to 5,686.67</li><li>NASDAQ: +3.37% to 17,977.73</li><li>Dow Jones: +2.85% to 41,317.43</li><li>Market lifted by strong earnings (Meta, Microsoft), jobs report surprise, and easing trade tensions.</li></ul>United Kingdom<ul><li>FTSE 100: +2.15% to 8,596.35</li><li>Driven by commodity stocks and global risk-on sentiment. FTSE nears record territory.</li></ul>Europe<ul><li>Euro Stoxx 50: +3.20% to 5,285.19</li><li>Boosted by earnings momentum and renewed trade optimism.</li></ul>China<ul><li>SSE Composite Index: -0.49% to 3,279.03</li><li>Shanghai lagged behind peers, weighed by caution over domestic economic policy.</li></ul>Invest in top African stocks, track trends, and access insights like these—only on the <a href="https://daba.finance/app" rel="noopener noreferrer" target="_blank">Daba app</a>. Learn how to invest with <a href="https://dabaacademy.com" rel="noopener noreferrer" target="_blank">Daba Academy</a>.

Daba Finance/Weekly Markets Pulse: BRVM Shines as Global Stock Markets Rally

Weekly Markets Pulse: BRVM Shines as Global Stock Markets Rally

NSIA Banque CI (<a href="https://www.dabafinance.com/en/capitalmarkets/NSBC" rel="noopener noreferrer" target="_blank">BRVM: NSBC</a>) reported a net profit of 7.1 billion CFA francs ($12.2 million) for the first quarter of 2025, reflecting moderate growth and resilience in a challenging economic environment. Net Banking Income (NBI) reached 22.4 billion CFA francs as of March 31, a 2.5% increase year-on-year, supported by higher interest margins from customer loans.Pre-tax profit rose 1.7% to 7.9 billion CFA francs, with the bank attributing the performance to a reduction in the net cost of risk. Net loans grew by 2.4% from December 2024 to 1.574 billion CFA francs, while customer deposits climbed 4.8% to 1.783 billion CFA francs. Total assets exceeded 2,560 billion CFA francs.The bank reaffirmed its 2025 strategy to strengthen commercial performance, manage costs rigorously, and improve the customer experience, aiming to consolidate its gains and maintain profitability.<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 Banque CI Posts $12M Profit in Q1 Amid Stable Growth

NSIA Banque CI Posts $12M Profit in Q1 Amid Stable Growth

Ivorian textile company UniWax (<a href="https://www.dabafinance.com/en/capitalmarkets/UNXC" rel="noopener noreferrer" target="_blank">BRVM: UNXC</a>) reported a net profit of 8.2 billion CFA francs ($13.8 million) for Q1 2025, reversing three consecutive years of losses. The turnaround was driven by a capital gain of 8.54 billion CFA francs from the sale of its industrial land in Yopougon under a sale-leaseback agreement. The company continues operations on the premises.Revenue rose 14% year-on-year to 7.84 billion CFA francs, buoyed by a recovery in Nigerian and Guinean markets and reinforced distribution networks. Despite this, ordinary operations still posted a loss of 329 million CFA francs, though it marks a 72% improvement from Q1 2024.The asset disposal and optimization in logistics and production helped clean up the balance sheet, following a challenging 2023 when UniWax recorded a loss of 2.03 billion CFA francs. Shares are currently trading at 395 CFA francs, having declined over 10% in the past six months.<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/Uniwax Posts First Net Profit in Three Years After Asset Sale

Uniwax Posts First Net Profit in Three Years After Asset Sale

Investing in Innovation Africa (i3), a pan-African initiative supporting tech-enabled healthcare supply chain startups, has announced its third cohort of seven companies, each eligible for up to $225,000 in funding and bespoke commercial support. The initiative, backed by the Bill &amp; Melinda Gates Foundation and co-sponsored by MSD, Cencora, Sanofi Global Health Unit, Chemonics, HELP Logistics, and the Endless Foundation, aims to accelerate market access for growth-stage health innovators.The selected startups—Chefaa, Dawa Mkononi, Meditect, mPharma, myDawa, RxAll, and Sproxil—are active in 19 African countries and focus on solutions ranging from AI-driven prescription refills to last-mile delivery and embedded pharmacy financing.Each company will receive tailored investor readiness support from partners, including Villgro Africa, IMPACT Lab, CcHUB, and Startupbootcamp Afritech, alongside curated introductions to healthcare buyers, governments, and donors. The program’s goal is to facilitate $30 million in commercial partnerships and establish i3 as a catalyst for tech-led healthcare reform across 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/Seven African Startups Picked for i3 Africa’s Third Healthcare Cohort

Seven African Startups Picked for i3 Africa’s Third Healthcare Cohort

Ghanaian retail-tech startup Tendo has raised an undisclosed amount of funding from Renew Capital to support its expansion across Africa. Founded in 2021, Tendo enables individuals to start online retail businesses without upfront capital by connecting them to suppliers and managing logistics and inventory.The platform currently supports over 10,000 resellers in Ghana and Nigeria and has reached more than 42,000 customers with a product catalog spanning fashion, electronics, beauty, and FMCG items.With the new investment, Tendo plans to scale operations, onboard additional resellers, and expand its presence in key African markets. The company’s app-based platform allows users to launch businesses from their smartphones, targeting digitally connected but underemployed youth.<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’s Tendo Gets Funding to Scale Smartphone-Driven Retail Platform

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