Good morning. Nine of the world’s 20 fastest-growing economies this year will be in Africa, per IMF forecasts, which show a growing divergence between resource-rich African nations and those less dependent on commodity exports.

Tap here to discover Africa’s growth engines of 2025. Also in today’s newsletter:

• Mahama’s return in Ghana

• Energy exports lift Senegal

• Ethiopia’s new stock exchange

• Benin’s latest IPO on BRVM

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What’s Trending on Daba?

We’re thrilled to share two new opportunities that have investors on Daba excited! 

Niger’s newly launched government bonds offer attractive yields—up to 48.3% to maturity—while supporting the country’s ambitious rebuilding efforts. These bonds provide both a solid return and a chance to invest in Africa’s rising star.

The banking giant Banque Internationale pour l’Industrie et le Commerce (BIIC) IPO is making waves. As one of the most anticipated public listings, this IPO opens a rare window into Benin’s dynamic financial sector.

Whether you’re seeking stable returns or high-growth potential, explore these opportunities now on the Daba app!

Markets Wrap

Discover Daba’s best-performing stock collections for the week

…and other asset classes we’re tracking.

Markets

• African Stock Markets Shine in 2024 Despite Macro Challenges

• Nigerian Stock Market Extends 5-Year Streak With 38% 2024 Gain

• Ghana Stock Exchange Poised for Further Gains in 2025

Earnings & Dividends

• Bank of Africa Niger Expects Profit Decline on Ecowas Sanctions

• Sucrivoire Nine-Month Revenue Jumps 11% to $94.8M

This Week’s Top Stories

Mahama returns: John Mahama was sworn in as Ghana’s president, winning 56.6% of December’s vote amidst economic discontent. His vice president, Naana Jane Opoku-Agyemang, made history as Ghana’s first female VP. Mahama who held the position eight years ago faces a debt-burdened economy, high inflation, and unemployment exceeding 20%. With near-supermajority parliamentary control, his administration aims to restore investor confidence in Africa’s top gold producer.

Energy boost: Senegal’s economy grew 11.5% year-on-year in Q3 2024, driven by new oil and gas exports. BP’s Greater Tortue Ahmeyim project and Woodside’s Sangomar oil field are fueling the boom. While revenues offer a fiscal boost, Senegal plans to cut spending to reduce its deficit, currently over 11% of GDP. Growth is expected to stabilize as the energy sector matures.

Ethiopia exchange: The Horn of African nation launched its stock exchange, the ESX, after 50 years, debuting with Ethio Telecom’s $234 million IPO. The exchange aims to list 50 companies in five years, driving long-term economic reform. With stabilized inflation and GDP growth at 8%, Ethiopia seeks foreign investment despite political unrest and currency volatility posing risks to investor confidence.

Another IPO: Benin will sell 30%-40% of its stake in Banque Internationale pour l’Industrie et le Commerce (BIIC) via an initial public offering (IPO). The offering, priced at 5,250 FCFA per share, could raise $145-$191.7 million. BIIC, now holding 22% of Benin’s banking assets, boasts 117% annual profit growth. The IPO comes after the listing of state-owned Loterie Nationale du Bénin SA (LNB) on the BRVM.

Headline Roundup

A summary of the major business, tech, and finance headlines of the past week.

Economy and Macro

• Egypt Inflation Slows Down to 23.4% in December

• Tanzania Central Bank Maintains Key Lending Rate at 6%

• Kenya Q3 Economic Growth Slows to Near Four-Year Low

M&A and Corporate

• MTN Concludes Sale of Guinea Unit to Focus on Core Markets

• Nigeria’s GTCO Raises $136M in First Phase of Recapitalization

• Kenya Airways Shares Resume Trading After Five-Year Freeze

Startups and Tech

• Nigeria's Gokada Files for Bankruptcy Amid Financial Struggles

• Egypt’s ReNile Secures $450,000 for Expansion into Saudi Arabia

Fundraising and Accelerators

• MIC $16M Khulisani Fund Invites Black-Owned Businesses to Apply

• Visa Opens Applications for 2025 Africa Fintech Accelerator

• Innovate47 Expands Climate Action Accelerator to Africa

Must-Reads on Daba

The best of our financial education and insights analyzing key themes in Africa’s investment landscape.

• 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

Get more context into themes shaping Africa’s investing landscape.

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 this week.

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Catch you next week!