Good Morning,

Here's a quick preview of today’s newsletter: LemFi bagged $53M for its global remittance play, Benin plans $750M Eurobond, diaspora remittances in The Gambia hit $776M, banks lead IPO surge across African stock markets this year, and more.

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Markets Snapshot

Four Things You Need to Know

• LemFi, a London-based fintech, raised $53 million in Series B funding, boosting total funding to $85 million. The platform processes $1 billion in monthly remittances and plans European expansion.

• Benin seeks $750 million in Eurobond sales as yields stabilize, with pricing around 8%. Investor confidence will hinge on political stability and debt sustainability amid tightened global borrowing conditions.

• TymeBank and Moniepoint, Africa's newest fintech unicorns, raised over $360 million combined. Their hybrid models address financial inclusion challenges, combining physical touchpoints with digital tools for underserved markets.

• Remittances to Gambia hit $776 million in 2024, accounting for 31.5% of GDP. Diaspora contributions are rivaling tourism in foreign exchange, highlighting opportunities for investment incentives to boost economic impact.

2025 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, which will become just the third Beninese company listed on the BRVM.

Get the Daba app to learn more about the BIIC IPO and how you can participate.

Headline Roundup

Markets

• Telecoms, Banks Drive BRVM to Record Market Capitalization in 2024

• MTN Nigeria Stock Up 20% in January on Capital-Raising Plan

• Cocoa Processing Hits Four-Year Low as Record Prices Bite

Economy and Macro

• Mali to Get $1.2B from Mining Companies After Sector Reforms

• Ghana Inflation Rises to 23.8% in December on Food Costs

• Reforms, Consumer Spending to Lift South Africa Economy in 2025

• Nigerian Inflation Hits 29-Year High Ahead of CPI Overhaul

• Ivory Coast Expands Oil & Gas Output After Exceeding Forecasts

• Mozambique's Chapo Sworn In Amid Disputed Election and Protests

M&A and Corporate

• PPC Partners Chinese Firm on $160M South Africa Cement Plant

• Mansa Partners Targets $300M to Bridge Africa’s Infrastructure Gap

• Mastercard Expands in West Africa with New Ghana Office

• Barrick Gold Halts Operations in Mali After Government Gold Seizure

VC, Startups & Tech

• South Africa’s Awareness Company Raises $1.6M for AI Solutions

• Applications Open for Africa’s First MineTech Accelerator Program

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

Africa is set for significant growth in 2025, with economies like South Sudan, Libya, Senegal, and Sudan leading the way. From reconstruction efforts to expanding hydrocarbon sectors, these nations are positioning themselves as key players in the global economy. Hit the button below to see the full list of Africa's growth leaders of 2025.

That’s it for today.

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Catch you next week!