Hi there and welcome to Daba’s weekly Next Frontier newsletter.

Here's a quick preview of today’s edition: BIIC Bénin surges post-IPO, OmniRetail raises $20M, Aruwa nears $50M gender-lens fund close, and BRVM dividend season kicks off with strong yields from top West African banks.

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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. This year, investors can expect impressive payouts from telecom giants like Sonatel to major banks like Bank of Africa (BOA) units.

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. Download the Daba app now, and 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 05/02/2025 market close

Commentary: Global stock markets rallied this week on strong tech earnings, improving U.S.-China trade sentiment, and resilient labor data in the U.S. The BRVM led African gains, while global benchmarks posted sharp advances. Read our weekly markets recap here.

Four Things You Need to Know

Landmark listing: BIIC Bénin rose 6.7% on its BRVM debut Monday, closing at XOF 5,600 after a $173M IPO—one of the exchange’s largest. Now the sixth most valuable stock, its listing signals growing investor appetite for West African financials and deeper liquidity for the region’s integrated market.

Retail rewired: OmniRetail raised $20M to scale its asset-light B2B platform across West Africa, targeting 150,000 informal retailers with inventory, payments, and BNPL tools. Profitable and data-rich, the startup is reshaping Africa’s fragmented commerce sector with embedded finance and real-time retail intelligence.

Gender gains: Aruwa Capital nears a $50M close for its gender-lens Fund II, backed by Mastercard, Visa, and BII. Targeting underserved growth-stage businesses in Nigeria and Ghana, the firm is championing women-led investing in essential sectors like health, finance, and food.

Dividend drive: Distribution season heats up on the BRVM, with banks like BOA Benin and Sonatel leading payouts. Amid modest price gains, West African investors are chasing yields via stable dividend stocks, supported by tools like Daba to time buys ahead of ex-dates.

Headline Roundup

Markets & Finance

• Ivorian Rubber Producer SAPH First-Quarter Profit Grows 949%

• Ecobank Ivory Coast Unit Reports 7% Net Profit Growth in Q1

• SOGB Posts 263% Profit Jump in Q1 on Strong Rubber Exports

• Uniwax Posts First Net Profit in Three Years After Asset Sale

• NSIA Banque CI Posts $12M Profit in Q1 Amid Stable Growth

Economy & Macro

• IMF Slashes Global Growth Outlook on Impact of Trump Tariffs

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

• Zimbabwe Restarts Gold Coins Minting as Bullion Prices Soar to Record

• Gabon’s New President Sets Path Back to Constitutional Order

Corporate & M&A

• C-One Acquires Nigerian Lender Bankly to Expand Fintech Portfolio

• Morocco’s Chari Partners with Visa to Expand Digital Payments

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

VC, Startups & Tech

• Ghana’s Kofa Gets $8.1M to Scale Battery Swapping Network in Africa

• Kenya’s MYDAWA Secures Funding to Scale E-Pharmacy Model

• Nigeria Central Bank Fines Paystack Over Compliance Breach

• Seven African Startups Picked for i3 Africa’s Third Healthcare Cohort

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

Africa's gold hotspots. 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.

That’s it for today.

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Catch you next week!