Daily Newsletter

The tech-investment stories moving Africa's markets — what moved, and why it matters.

Sat, Sep 5

Dangote IPO: the $5 billion became $1.5 billion — and that's still the story

Three months ago, the headline number was a $5 billion IPO. Today it's $1.5 billion at N525 a share — less than a third of that original figure.

Africa Bitcoin Corp: South Africa just showed crypto founders what governance failure actually costs

Four days of coordinated trading in a thinly traded stock — that's all it took. The FSCA found that Wheatley, his wife, and the chief investment officer used their own company accounts, which together held over half of Altvest's shares, to…

Senegal's Rating: the IMF deal is real, but S&P isn't buying it

On 1 September, Senegal's government reached a staff-level agreement with the IMF for a $2.2 billion support programme. Three days later, S&P cut the country's credit rating to 'CC' — the agency's signal that external default is nearly…

Shuttlers Pod: the local answer that was already in the room

Shuttlers isn't scrambling to fill a vacuum — it's extending a model it's been running since 2016.

Onafriq: the currency did what competition couldn't

Onafriq spent four years growing revenue tenfold — from $7.9 million to $85.6 million. Then Nigeria devalued the naira, and a single currency move erased $3.2 billion from its payment volumes and pushed revenue back down to $79 million.

MoMo's Ambition: 317 million users is the wrong number to chase

Less than 0.3% of MoMo Ghana's users actively invest. Only a small share save on a consistent monthly basis. And Ghana processes 26 million transactions a day — a market the industry already calls mature.

Standard Bank: one seat at a 21-institution table is a start, not a settlement

Being the only African institution in a 21-member global stablecoin alliance sounds like a breakthrough — and in one sense it is.

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