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Here's a quick preview of today’s newsletter: China-Africa trade hits record $295B, Nigeria joins BRICS, Oui Capital makes $8m from $150k fintech investment, Morocco tops Africa tourism, and Angola plans privatization.

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Markets Snapshot

Data as of 01/24/2025 market close

Five Things You Need to Know

Rising trade: China-Africa trade surged 6.1% in 2024, reaching $295.5B, driven by China's demand for African minerals and policy changes like tariff abolitions for 33 African nations. South Africa, Nigeria, and Egypt remain key partners amid deepening resource-based ties.

Bloc expansion: Nigeria joined BRICS as a partner state, aiming to enhance trade and socio-economic ties with the bloc. The move aligns with Nigeria's strategies to counter fiscal challenges, attract investments, and diversify global trade partnerships.

Winning bets: Oui Capital's $4M debut fund was fully repaid after an $8M return from its early $150K bet on Moniepoint. The African fintech exit underscores the potential of early-stage investments in high-growth startups with disciplined portfolio management.

Tourism triumph: Morocco welcomed 17.4M visitors in 2024, surpassing Egypt as Africa's top tourist destination. Strategic investments, enhanced infrastructure, and upcoming global events position Morocco to cement its tourism leadership further further.

Angola privatizes: The central African nation plans to privatize Unitel SA and two major banks as part of its economic diversification efforts. The strategy seeks to reduce oil dependency and attract investors, with Unitel’s partial listing on Angola’s stock exchange.

Opportunity Alert: African IPOs to Watch!

At least five financial companies are set to go public on African stock exchanges in 2025—across Abidjan, Libreville, Douala, Tunis, and Algiers—offering huge opportunities for retail investors.

One is BIIC, a fast-growing francophone West African bank that will become just the third Beninese company listed on the BRVM.

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Headline Roundup

Markets & Finance

• BRVM Benchmark Index Sees Marginal Weekly Gain

• Zimbabwe Stock Exchange Poised for Growth in 2025

• January Rate Cut Likely as South Africa Inflation Slows

• Oil Prices See First Weekly Drop This Year on Trump Policy

Economy & Macro

• South Africa’s Construction Booms on $265B Infrastructure Push

• Ecowas Targets Tax Cuts to Lower Air Travel Costs in West Africa

• Zambia’s Copper Output Rises 12% in 2024 Despite Drought

• Nigeria Boosts Oil Output Near OPEC Quota as Security Improves

Corporate & M&A

• World’s Largest Cobalt Miner Ramps Up Output in African Mines

• Nigeria Raises Telecoms Tariffs by 50% in First Hike Since 2013

• Infrastructure Lender AFC Eyes $500M Emerging-Market Securitization

VC, Startups & Tech

• Visa Invests $10M in Moniepoint to Drive African SME Growth

• SeamlessHR Raises $9M in Series-A Extension for Africa Expansion

• Egypt's MoneyHash Raises $5.2M in Pre-Series A Round to Scale

• Purple Elephant Ventures Secures $4.5M for Tourism Innovation

• Kobo360 Cuts Jobs Amid Leadership Changes, Financial Struggles

What Else We’re Reading

• Africa in 2025: The Fastest-Growing Economies

• The Best BRVM Stocks and African Stock Markets of 2024

• M&A Surge: How Consolidation is Reshaping African Tech

• African Tech in 2024: Major Themes That Shaped the Year

• Top 15 Largest African Startup Funding Rounds in 2024

Chart of the Week

African fintech startups secured over $1 billion in funding in 2024, accounting for 47% of total VC investments, per Big Deal data. TymeBank, MNT-Halan, and Moniepoint drove the surge. Oui Capital’s $8M return from its Moniepoint investment underscores why fintech remains the region’s most preferred sector for venture bets while other sectors like clean energy and logistics gained traction.

That’s it for today.

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