
Twiga Foods: nearly $200 million and the money was never the problem
The Tatu City fulfilment centre is the detail that explains everything.
Read more →The tech-investment stories moving Africa's markets — what moved, and why it matters.
Tue, Sep 15

The Tatu City fulfilment centre is the detail that explains everything.
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A 1,000 per cent rise in transaction volumes sounds extraordinary. But PAPSS's own CEO is saying, in plain terms, that the build phase is over and the real test hasn't started yet.
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The question this listing has carried for months was never about the asset — the refinery is real. It was whether ordinary Nigerians would actually show up.
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Airtel Kenya Telesonic recorded zero revenue in both years it existed. Its only meaningful asset — a network licence — was fully written down by the time the doors closed.
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The headline number is $239 million. The number that actually explains it is R240 million — DBSA's anchor commitment.
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A 17.1% average yield on Nigerian government bonds — against the new index's 10.4% benchmark average — is not a sign of confidence. It's the price of doubt.
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