Good day,

Here's a quick preview of today’s newsletter: Africa to lead global economic growth in 2025, Kenya overtakes Ethiopia, gold prices surge as investors flee to safety, and Lori restructures after a steep valuation drop.

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What’s New on Daba?

We’re excited to announce the launch of Daba Academy to bring investment education to everyone. 

Initially available in French, the platform offers limited lifetime access for $26 and practical training on BRVM markets. By linking learning to action, Daba is positioning itself at the center of Africa’s retail investment transformation.

Click below to take your investment knowledge to the next level.

ICYMI: BRVM Stocks Have Started Paying Dividends

Over 15 companies on the BRVM are set to distribute dividends in 2025, starting with BOA Burkina Faso. From telecom giants like Sonatel to major banks like Bank of Africa - Groupe Bank of Africa units, investors can expect impressive payouts this year.

With yields as high as 10%, this is your sign to start investing in the BRVM market.

📅 Want to know which stocks are paying and when? CLICK HERE to see the updated list with payment dates. And download the Daba app now to never miss a payout again. 👇

Now, let’s dive in.

Markets Snapshot

Daba indexes track curated stock collections—all available to invest in directly on the app.

The best-performing BRVM stocks of the week by share price increase—all available to invest in directly on the app.

Data as of 04/25/2025 market close

Four Things You Need to Know

Growth leader: Africa is poised to dominate global growth in 2025, with 13 of the 20 fastest-growing economies, while global growth is expected to slow due to increased trade tensions sparked by US tariff actions. Sub-Saharan Africa remains a bright spot but faces heightened macro risks.

Logistics crunch: Lori Systems raised $2M at a $5M valuation, down 96% from its 2020 peak, as cashflow woes and investor caution batter Africa’s logistics tech sector. Shifting to bank-financed trucking, Lori is betting on profitability and asset-light operations to survive a fiercely competitive $180B African freight market.

Kenya’s ascent: Nairobi will overtake Ethiopia as East Africa’s largest economy in 2025, helped by a stable currency and diversified growth engines. Ethiopia’s devaluation and inflation pressures contrast sharply with Kenya’s relative fiscal stability and stronger integration with global financial markets.

Gold rush: Institutional investors are piling into gold and defensive sectors as recession fears surge, with gold hitting a record $3,500/oz midweek and SPDR’s GLD topping $100B in assets. Cash allocations are rising toward contrarian levels, while tech exposure plunges, signaling a market deeply braced for turbulence.

And in our latest bi-weekly Pulse54 newsletter, we explore Africa’s booming gold industry as global prices hit peak levels, with the potential to lift key economies from South Africa to Ghana and Mali in the Western region. Check it out here.

Headline Roundup

Markets & Finance

• Telco Giant Sonatel Senegal Set to Pay Dividends May 22

• Onatel To Pay Dividends Despite Marginal Profit Growth

• Societe Generale Côte d'Ivoire First-Quarter Profit Jumps 2.2%

• Oil Producer PalmCI Reports 32% Revenue Growth in Q1 2025

• Bank of Africa Benin Reports 8.7% Drop in 2024 Net Profit

Economy & Macro

• Ghana Plans New Refineries, Petrol Plants to Cut Fuel Imports

• WAEMU Unemployment Falls to 11.6% as Job Market Strengthens

• Nigeria’s Internet Traffic Hits Record Level on Video Boom

• South Africa Faces $4B Revenue Gap After Reversing VAT Hike

• S&P Lifts Togo’s Sovereign Rating to B+ on Growth, Fiscal Reform

Corporate & M&A

• Safaricom Expands Rural 5G to Counter Starlink’s Satellite Push

• Mastercard Foundation to Back MSMEs Via Capital Connect Africa Deal

• Twiga Foods Acquires Three FMCG Firms to Broaden Kenya Footprint

• FSD Invests $13M in ARM-Harith Fund to Draw Nigerian Pension Capital

VC, Startups & Tech

• Moroccan Regtech Startup VOVE ID Secures Funding for Expansion

• Visa Invests in Tunisia’s Konnect, Morocco’s PayTic After Accelerator

• Crossfin Backs DigiSquad to Expand Digital Payments in Africa

• Google Opens Applications for 2025 African AI Startup Accelerator

What Else We’re Reading

• Top Themes Africa Investors Should Watch in 2025

• Debt, Elections, Growth: WAEMU High-Stakes Year Ahead

• Benin’s IPO Market Heats Up Amid Economic Reforms

• Big Reset: Uranium-Rich Niger Set for Rapid Growth

Chart of the Week

Senegal to Lead Sub-Saharan Africa's GDP Growth in 2025. Regional growth projected at 3.8% in 2025, with standout performers across francophone West Africa. In its April 2025 Outlook, the IMF notes regional divergence continues, with Nigeria 🇳🇬 (3%) and South Africa 🇿🇦 (1%) lagging.

While inflation is expected to ease to 5.6% across emerging markets, the outlook faces headwinds from debt servicing costs, climate vulnerabilities, and potential trade disruptions. 

Africa's growth remains one of the major stories in emerging markets, and we expect investor attention to increasingly focus on these high-potential economies. Read the full report summaries on Daba News.

That’s it for today.

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Catch you next week!