Author: Michael Ajifowoke

2023 Recap: Best-Performing Stocks On BRVM

The Bourse Régionale des Valeurs Mobilières (BRVM) is the regional stock exchange of the member states of the West African Economic and Monetary Union (WAEMU): Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal, and Togo.

The exchange is located in Abidjan, Côte d’Ivoire but maintains market offices in each of the affiliated countries.

In an impressive year for the stock market, up to eight of the stocks posted double-digit share price gains in 2023 while the market capitalization surged past the XOF 8 trillion mark (around $13bn) for the first time in history in September.

As part of our 2023 recap series, we provide an overview of the best-performing stocks on the regional bourse—and the companies behind them—ranked by share price appreciation.

1. Bank of Africa (Cote d’Ivoire) – +86.4%

Bank of Africa Cote d’Ivoire SA is an Africa-based bank situated in Abidjan, Ivory Coast. It provides financial and insurance products and services to such customers as professionals, individuals, students, and local communities.

Bank of Africa – Côte d’Ivoire is traded on the BRVM under the ticker symbol “BOAC”. Its current share price is XOF 6,750 having surged more than 80% over the past year.

Bank of Africa – Côte d’Ivoire is currently the 15th most valuable stock on the BRVM with a market capitalization of XOF 135 billion, which is about 1.71% of the equity market.

It is the 16th most traded stock on the Exchange over the past three months.

2. Societe Multinationale de Bitumes (Cote d’Ivoire) – +54.69%

Societe Multinationale de Bitumes (SMB) SA is engaged in refining crude oil for the production and marketing of road bitumen and by-products.

SMB is traded on the BRVM under the ticker symbol “SMBC”. It is currently the 22nd most valuable stock on the bourse with a market capitalization of XOF 81.1 billion, which is about 1.02% of the equity market.

The current share price of SMB Côte d’Ivoire is XOF 10,400. It rose more than 54% last year and is the 31st most traded stock over the past three months.

3. Alios Finance (Cote d’Ivoire) – +47.2%

Alios Finance Safca SA, formerly Societe Africaine de Credit Automobile (SAFCA) SA, provides financial services including financing of motor cars, and agricultural or commercial equipment, including second-hand equipment.

It is traded on the BRVM under the ticker symbol “SAFC” and is currently the 41st most valuable stock on the exchange with a market capitalization of XOF 8.73 billion, which makes up about 0.11% of the equity market.

The stock’s current price is XOF 1,075 and it is the second most traded stock on the BRVM over the past three months.

4. SGB (Cote d’Ivoire) – +38.3%

Société Générale de Banques en Côte d’Ivoire provides banking products and services to individuals, corporations, institutions, and professionals in the Ivory Coast.

The company offers accounts, including remote banking products and money transfers; credits, such as real estate loans; life and non-life insurance; savings and investments; and loyalty programs for individuals.

SGB is traded on the BRVM under the ticker symbol “SGBC” and is currently the third most valuable stock with a market capitalization of XOF 492 billion, which is about 6.21% of the equity market.

SGB Côte d’Ivoire is the 29th most traded stock over the past three months.

5. EcoBank (Cote d’Ivoire) – +37.5%

Ecobank Cote d’Ivoire SA is a commercial bank that provides several products and services. Apart from the Ivory Coast, the Company also operates in Mozambique, Nigeria, and Tanzania, among others.

Ecobank is traded on the BRVM under the ticker symbol “ECOC” and is currently the fourth most valuable stock with a market capitalization of XOF 369 billion, which is about 4.66% of the equity market.

The current share price of Ecobank Côte d’Ivoire is XOF 6,700 and is the seventh most traded stock on the Exchange over the past three months.

6. Bank of Africa (Burkina Faso) – +34.2%

Bank of Africa Burkina Faso SA is a commercial bank operating in the retail, corporate, and financial markets. The Bank provides financial products such as deposit accounts, including checking, savings, and time deposits, and extends loans to individuals and businesses.

Burkina Faso is traded on the BRVM under the ticker symbol “BOABF”. Bank of Africa – Burkina Faso is currently the 10th most valuable stock with a market capitalization of XOF 151 billion, which makes up about 1.9% of the equity market.

The current share price of Bank of Africa – Burkina Faso is XOF 6,850 and is the 35th most traded stock on the Exchange over the past three months.

7. Bank of Africa (Senegal) – +30.6%

Bank of Africa Senegal provides a range of banking products and services to individuals and businesses. BOA Senegal operates as a subsidiary of BOA Group, a holding company that provides financial services such as banking and insurance through its subsidiaries in Africa.

It is traded on the BRVM under the ticker symbol “BOAS” and is currently the 25th most valuable stock with a market capitalization of XOF 76.2 billion, which makes up about 0.962% of the equity market.

Bank of Africa – Senegal is the 19th most traded stock over the past three months with a current share price of XOF 3,175.

8. Air Liquide (Cote d’Ivore) – +22.9%

Air Liquide Cote d’Ivoire SA, formerly Societe Ivoirienne d Oxygene et d Acetylene SA, (SIVOA), is an Ivory Coast-based company engaged in the chemical industry.

It produces industrial and medical gases, equipment and medical consumables, cutting and welding equipment, hygiene materials, and firefighting products. It also provides installation and maintenance services.

Air Liquide is traded on the BRVM under the ticker symbol “SIVC” and is currently the 42nd most valuable stock with a market capitalization of XOF 7.25 billion, which is about 0.092% of the equity market.

The current share price of Air Liquide Côte d’Ivoire (SIVC) is XOF 830 and it is the sixth most traded stock on the BRVM over the past three months.

XOF 1 = USD 0.0017 as of January 7, 2024.

Information credits: BRVM, African Exchanges, Reuters Markets

January 7, 2024
2023 Recap: Major Themes in African Tech
There are not many places to look but up in the new year for African tech stakeholders after what turned out to be a tough 2023 for startups globally.

This year, budgets and valuations were cut, business models revised, layoffs were frequent, and some startups shuttered as the harsh realities of a funding downturn, mismanagement, and fraud took their toll on African tech.

It’s time to take stock of the last 12 months in what’s been a rollercoaster year. Read on to discover the major themes in Africa’s tech ecosystem.

The venture funding market shrinks

The exuberance of 2022’s VC landscape gave way to a stark reality in 2023, with funding plummeting by around half globally in the first half of the year.

This dramatic shift coincided with hikes in interest rates, which had a chilling effect on fundraising. For every 1% hike in interest rates, there was an alarming 3.2% decline in VC capital.

This tightening environment not only reduced the pool of VC money available to startups but also made debt financing, a potential alternative, a less viable option due to higher borrowing costs.

After a bullish 2022 in which Africa was the only continent to record growth in venture funding values, there was no escaping the downturn this year.

The funding winter reached the continent in the H1 2023. Startup funding plunged to just over $1bn, a stark drop from $3.5bn the year before, per AVCA data.

Investors completed 263 deals – a 40% reduction in both deal volume and funding compared to the previous year.

Although African startups staged an impressive comeback in Q3 2023, with funding jumping by 28% compared to the year before.

The general slowdown prompted a reshuffle, with investor focus shifting towards nurturing young startups in their early stages or mature players nearing unicorn status.

Most likely Africa’s VC funding figures fell far from 2022 levels. The final tally as of Q3 2023 to date, per AVCA, stood at $2.95bn – down from the $4.3bn that was raised by the same point last year.

That means Africa’s venture capital industry managed to attract two-thirds (69%) of the capital it accrued by September 2022, and a more disappointing 56% of the total funding last year.

While VC funding is harder to come by, Development Finance Institutions (DFIs)—such as the IFC, BII, US DFC, and Proparco—are becoming more active in the tech startup landscape.

Venture debt & hybrid rounds become more frequent

2023’s funding scorecards are yet to roll out but available estimates suggest the continent’s startups still managed to attract more than $5bn.

Compared to previous years, a higher portion of the total funding is likely to be in the form of venture debt, which has become an alternative source of capital for African startups.

Notable in startup fundraising announcements this year is the growing frequency of mixed equity and debt funding rounds.

Examples include:
- Okra Solar’s Series A round ($7.85m equity and $4.15m debt);
- Complete Farmer’s pre-Series A funding round ($7m equity and $3.4m debt)
- Wetility’s $50m fundraising included a $33m commercial debt package from a consortium of commercial and development banks
While venture debt shines as a catalyst for early-stage ventures, providing crucial working capital to fuel their growth, it’s also increasingly powering expansion for more established startups.

This is the case with:
- Mobility FinTech startup Moove Africa. It has raised $325m to date ($150m in equity and over $175m in debt)
- Kenyan solar home system provider d.Light’s $125m securitization facility. The company’s total securitized financing is $490m since 2020
An uptick in startup shutdowns, pivots & downsizing

With global macro headwinds seeing investors cut fewer checks and some reportedly renege on commitments, a slew of startups were forced to downsize, pivot, or in many cases, close up shop.

At least 15 African startups shuttered this year, including those with once highly-celebrated status on the continent: 54 Gene, Dash, Sendy, WhereIsMyTransport, Lazerpay, Zumi, Zazuu, Hytch, Okada Books, Pivo, Vibra, Redbird, Bundle Africa, Spire, Qefira.

Combined, these startups raised over $200m in disclosed VC funding while operational.

Meanwhile, others like Copia, MarketForce, and Twiga Foods have had to change the way they operate.

It’s noteworthy that the funding slowdown has hit a certain type of African startups hardest—well-funded ventures chasing growth-at-all-costs strategies.

Cleantech/climate-tech now as popular as fintech

The tide is rising for climate tech (comprising innovations across agriculture, clean energy, sustainable materials, environmental sustainability, e-mobility, and nature-based solutions) in Africa.

Last year, funding to the sector grew 3.5 times to over $860m, making it Africa’s most funded after fintech.

It has maintained the second spot so far this year, per AVCA report. Data from Africa: The Big Deal shows the sector accounts for 32% of total VC funding as of Q3, behind fintech’s 35%.

And over the past 12-18 months, several VC firms—among them Satgana, Catalyst Fund, Equator, and EchoVC—have introduced funds to support startups in the sector.

The timing of this surge in climate funding couldn’t be better as Africa grapples with the increasingly severe impacts of climate change, we write in our Pulse54 newsletter, which explores climate tech in general and active players in the sector.

Spotlight on fraud & founder misconduct

Amidst the remarkable growth of Africa’s tech ecosystem, shadows loom over malpractices that impede the full potential and integrity of the continent’s startup landscape.

In 2023 alone, numerous unsettling reports emerged, depicting common themes such as financial misappropriation, deficient or corporate malfeasance, instances of sexual harassment, and the prevalence of toxic work cultures.

Startups like Ghana’s Dash and Float, Egypt’s Capiter, South Africa’s Springleap, and Nigeria-based companies such as PayDay, 54Gene, and Patricia were implicated.

More recently, Tingo was charged by the US SEC, accused of engaging in a “massive fraud” involving “billions of dollars of fictitious transactions,” all under the leadership of CEO Dozy Mmobuosi.

The lessons drawn from the challenges of 2023 underscore the critical need for regulatory clarity to eliminate grey areas in compliance.

Furthermore, investors must prioritize ensuring proper governance to safeguard the integrity of the African startup ecosystem.

Mergers & acquisitions become a survival strategy

Mergers and acquisitions (M&A) have emerged as a primary exit strategy and, in the current depressed funding environment, a lifeline for African startup founders.

In Q1 2023 alone, seven M&A deals took place in the African startup ecosystem worth over $710m. Tunisia-based InstaDeep’s $682m acquisition in January by Germany’s BioNTech accounted for much of that.

By the end of the year’s first half, there had been at least 16 M&A deals per Big Deal data. About half of them reportedly involve struggling startups.

While this year’s total is likely to be some way off 2022’s 44 deals, one fact remains true: M&As have become a prominent feature of the African tech ecosystem.

Limited funds and the fragmented nature of the African tech market are major drivers.

The presence of numerous small and medium-sized companies across various regions and sectors makes consolidation through M&As a strategic move.

This approach creates larger, more diversified startups that can better compete globally and attract investment.

In addition, African startups are currently viewed as less liquid assets compared to other markets, primarily due to limited exit opportunities.

Thus, as the quest for a reliable path to liquidity in the African tech ecosystem grows, M&As become a viable option for venture capitalists and investors to explore.

Other noteworthy moments and highlights of the year
- Starlink, a satellite internet service of Elon Musk-owned SpaceX, became operational in 6 African countries
- Nigeria lifted a ban on cryptocurrency imposed by the Central Bank almost 3 years ago
- Egypt’s MNT-Halan raised $400m in an equity and debt round that saw it become Africa’s latest unicorn (a private company valued at $1bn or more).
- Bosun Tijani, founder of CcHUB, was appointed as Nigeria’s minister of communications, innovation, and digital economy
- Wasoko and MaxAB, Africa’s leading e-retailers from Kenya and Egypt, are exploring a possible deal that could lead to African tech’s largest merger
- Jumia and Bolt shut down their food delivery businesses amid struggles that underscore the challenging nature of the industry
- And digital infrastructure, especially data centers, continues to draw the attention and backing of investors—from telco giants to private equity firms.
Closing Notes

As 2023 hurtles to a close, the question on everyone’s mind is will 2024 be better?

Perceptions of industry performance and expectations for the future vary.

For one, many factors that kept VC activity subdued in the continent this year are still present going into the new year: inflationary pressure, currency volatility, debt worries, muted economic growth, high interest rates, and geopolitical tensions, among others.

But even amidst the uncertainty, investors remain optimistic and Africa’s tech ecosystem is as resilient as ever.

We’re down to the last hours of what’s been a rollercoaster year. Daba wishes you happy holidays and a prosperous new year ahead!
December 31, 2023
2023 Recap: African Largest VC Rounds

Flagging. That’s how we would describe the African tech startup funding scene in 2023.

Global macro headwinds saw investors cut fewer checks and some reportedly backed down from commitments, forcing a slew of startup shutdowns and downsizing.

While on the surface, it seems Africa’s VC funding figures fell far from 2021 and 2022 levels, available estimates suggest the continent’s startups still managed to attract more than $5 billion.

Before the year’s scorecards start to roll out, we take a look at the top 10 largest fundraising rounds in the African tech startup industry this year and the trends they reveal.

Fewer mega-deals (just four >$100m rounds vs nine in 2022):

This signifies a shift towards cautious optimism from investors.

While big bets still happen, they’re rarer, with investors preferring to spread their bets on multiple promising startups.

This could lead to a more sustainable ecosystem, with startups forced to focus on stronger fundamentals and traction before securing large funding rounds.

MNT-Halan‘s $400 million round in Egypt and M-KOPA‘s $250 million in Kenya are rare exceptions, highlighting their established market positions and potential for significant impact.

Fintech takes the top spot but the landscape is more diverse:

Fintech remains a dominant sector due to its potential to address financial inclusion challenges in Africa.

However, other sectors like cleantech and mobility are gaining traction, indicating diversification in investor interest.

This diversification can lead to a more balanced and resilient ecosystem, as the success of the startup scene is not solely dependent on one sector.

The presence of Husk Power, Wetility, Nuru, Planet42, and Moove in the top 10 shows the growing importance of these sectors in attracting investor attention.

The rising prominence of debt + equity rounds:

This hybrid approach combines the flexibility of equity with the stability of debt, offering startups a more tailored financing solution.

It can be particularly useful for startups with strong revenue models but limited access to traditional equity funding.

This trend could democratize access to funding for startups, especially in emerging markets, as it caters to startups at different stages of growth and risk profiles.

MNT-Halan, M-KOPA, Planet42, and Moove all used debt + equity rounds, demonstrating the growing popularity of this approach.

Geographical distribution

The top 10 deals primarily focus on South Africa, Kenya, and Nigeria, showcasing the continued dominance of these countries in the African startup scene.

The Democratic Republic of Congo (DRC) emerged as a surprise entry in the top 10 thanks to Nuru‘s sizable Series B round.

Series B dominance

The majority of deals being Series B raises indicates a focus on mature startups with proven traction and scalability, further highlighting likely investor risk aversion.

Overall, the top 10 fundraising rounds paint a picture of a resilient African tech ecosystem adapting to a challenging global environment.

While mega-deals were scarce, the diversity of sectors, financing models, and geographical representation suggests potential for sustainable growth in the long term.

Stay tuned to our blog for a broader piece that explores standout trends in Africa’s tech landscape in 2023 and our high-conviction themes for the new year—to be published soon!

December 24, 2023
How Mobile Money Changed Africa

Venmo, Cash App, and Zelle are familiar names in the world of mobile-based digital payments in the West, having revolutionized how money is transferred and received by millions of people.

But did you know that Africa has been ahead of the game with its own mobile money systems since as far back as 2007?!

That’s right.

Today, we take you on a journey of how Africa became the biggest mobile money player in the world.

Where it all began

Once upon a time, not too long ago, accessing financial services was a challenge for many Africans. Unlike in the U.S. or Europe, traditional banking services were often very limited, especially in remote and rural areas.

But then mobile money.

In 2007, Safaricom, a leading mobile network operator in Kenya, launched a mobile money service called M-Pesa. Little did they know that this innovative concept would spark a digital revolution that would sweep across the continent.

M-Pesa, meaning “mobile money” in Swahili, allowed users to save, send, and receive money using just their mobile phones. This groundbreaking innovation proved to be a game-changer, enabling people without bank accounts to participate in the formal financial system.

In 2007, Safaricom, a leading telecommunications company in Kenya, launched a mobile money service called M-Pesa. Image credit: African Markets

The initial idea behind M-Pesa was to create a convenient way for Kenyans to transfer money securely. The service quickly gained popularity, as people in remote areas, where traditional banking services were scarce, embraced it as a means to conduct financial transactions with ease.

By 2011, over 50% of the Kenyan adult population had an M-Pesa account, rising to 90% in 2016.

In no time, mobile money took root and started to grow, not only in Kenya but also in neighboring countries.

M-Pesa was launched in Tanzania the following year and is now present in at least 10 countries.

So, what made mobile money so popular?

Well, let’s unravel its magic!

Imagine a scenario: a hardworking individual in a rural village wants to send money to their family in the city.

Historically, this would involve a long and costly journey, with the risk of loss or theft. But with a mobile money account, a few taps on a phone screen can instantly transfer funds to their loved ones, efficiently.

One of the key factors that contributed to the rapid adoption of mobile money was its simplicity: all you needed was a basic mobile phone, and suddenly, you had a bank in the palm of your hand.

No more long queues or complicated paperwork. Money transfers could be done with a few simple clicks.

For deposits and withdrawals, mobile money agents, often found in local shops, act as the bridge between the digital and physical worlds, allowing users to convert cash into digital currency and vice versa.

An M-Pesa agent attends to a user. Image credit: HBS Digital Initiative

By 2010, M-Pesa had acquired 10 million active users and by 2016, it served almost 29.5 million active customers through a network of more than 287,400 agents. In the same year, the service processed around 6 billion transactions, peaking in December at 529 transactions every second.

The success of M-Pesa in Kenya sparked a wave of enthusiasm. As word spread about the convenience and reliability of mobile money, its impact began to reverberate throughout the continent.

Impressed by the service, other African countries eagerly jumped on the mobile money revolution, building theirs in M-Pesa’s image.

Over the next few years, the service spread to countries like Uganda, Ghana, Rwanda, and South Africa as mobile network operators and financial institutions started realizing the immense potential of mobile money.

MTN launched its MoMo service in Uganda in March 2009 and in Rwanda in February 2010. Telesom ZAAD in Somaliland in 2009 and Hormuud launched EVC Plus in Somalia in 2011.

By 2011, more than 100 mobile money services were operating in Africa, reaching people who previously had limited access to formal financial services.

Africa continues to lead global adoption

Fast forward to today, more mobile money services have emerged in Africa while mobile money accounts and transaction value on the continent continue to skyrocket.

Africa accounted for up to 70% of the world’s $1 trillion mobile money value in 2021 after mobile money transactions on the continent jumped 39% from $495 billion in 2020 to $701.4 billion.

Last year, that rose a further 22% to a jaw-dropping $836.5 billion (bigger than the GDP of Nigeria, Africa’s largest economy!) but its share of the global $1.26 trillion mobile money value fell to 66.4%.

Per GSMA’s 2023 State of the Industry Report, mobile money is growing faster in sub-Saharan Africa than in other regions except for the Middle East & North Africa.

However, it’s not just about the numbers

Perhaps its greatest achievement, mobile money has brought financial inclusion to millions of Africans who were previously excluded from the formal economy.

Data from the World Bank shows that around 45% of people living in Sub-Saharan don’t have access to a bank account. But mobile phones are widespread across the continent and are helping to bridge the financial gap.

As of 2022, Sub-Saharan Africa had up to 763 million registered mobile money accounts, more than double the figures in the next closest region, and more Africans now enjoy access to a whole range of financial services that were previously out of reach.

The innovative service has empowered women entrepreneurs, allowing them to take charge of their finances and contribute to their families’ well-being; facilitated access to education and healthcare; paved the way for exciting innovations such as mobile banking apps and digital wallets.

Beyond money transfers…

Mobile money services in Africa have also quickly evolved beyond simple person-to-person money transfers and cash in-cash out.

Providers have continually expanded their services, introducing innovative features to meet the diverse needs of their users.

For instance, mobile micro-loans and savings accounts empower individuals to access credit and save money, fostering entrepreneurship.

In Kenya, M-Shwari allows users to save money and access micro-loans directly from their mobile wallets, creating opportunities for entrepreneurs and small business owners.

Partnerships between mobile money providers and other companies have expanded the range of services available, with users now able to pay their electricity and water bills via mobile money and purchase airtime from network operators.

Health organizations have integrated mobile money into their operations, enabling payments for medical services and health insurance premiums.

Mobile Money also promises to transform cross-border money transfer and international remittances in Africa, driven by companies like MFS Africa, Mama Money, and Paga, to name a few

More innovation on the horizon

Despite its transformative effect across the continent so far, it’s clear that the mobile money revolution in Africa is far from over.

Innovations continue to emerge, including interoperability between different mobile money platforms, making transactions even more convenient.

The potential for digital lending, savings, and insurance services on mobile money platforms holds great promise for the future.

As the mobile money landscape continues to evolve, so is the competition. Telecom companies, financial institutions, and fintech startups are all in the race to capture a share of this rapidly expanding market.

This healthy competition will only lead to improved services, lower transaction costs, and increased accessibility for users.

The growth of mobile money in Africa is nothing short of awe-inspiring.

From humble beginnings in Kenya, it has spread like wildfire, empowering individuals, driving economic development, and transforming societies across the continent.

As mobile money continues to evolve and expand its horizons, it remains one shining example of how technology is being harnessed to drive positive change in Africa.

December 23, 2023
The Tide Rises for Climate Tech in Africa

The tide is rising for climate tech in Africa. Fueled by a surge in investor interest, the sector is witnessing a wave of innovation, with over 3,000 startups pitching their solutions for a climate-resilient future.

A new report, “Investing in Climate Tech Innovation in Africa,” by Catalyst Fund, dives into the dynamics of this burgeoning sector, offering invaluable insights for investors, innovators, and stakeholders alike.

Tap here to read our summary of the report

December 18, 2023
Comment suivre vos finances
Gérer votre argent de manière efficace est une compétence cruciale qui peut conduire à la stabilité financière et au succès à long terme.

Que vous commenciez tout juste votre parcours financier ou cherchiez à améliorer vos compétences en gestion financière, suivre vos finances est la première étape vers la réalisation de vos objectifs financiers.

Dans ce guide, nous expliquons l’importance du suivi de vos finances et fournissons des conseils pour vous aider à commencer sur la bonne voie.

Pourquoi suivre vos finances?

Conscience: Suivre vos finances vous permet de comprendre clairement d’où vient votre argent et où il va. C’est comme créer une carte routière pour vos finances, ce qui vous permet de voir le tableau d’ensemble et de prendre des décisions éclairées.

Imaginez que vous dépensiez 5 $ pour un café chaque jour avant le travail. En suivant vos dépenses, vous réalisez que vous dépensez 150 $ par mois rien que pour le café. Cette prise de conscience pourrait vous inciter à réduire à quelques fois par semaine, économisant environ 90 $ par mois.

Établissement d’un budget: Créer un budget est une partie essentielle de la planification financière. En suivant vos dépenses, vous pouvez identifier les domaines où vous pourriez trop dépenser et apporter les ajustements nécessaires pour atteindre vos objectifs financiers plus rapidement.

Gestion de la dette: Suivre vos dettes, telles que les cartes de crédit ou les prêts, vous aide à respecter les délais de paiement et à éviter des frais d’intérêt inutiles.

Épargne et investissements: Suivre vos finances vous permet de mettre de l’argent de côté pour l’épargne et les investissements de manière plus efficace. Cela vous aide à comprendre combien vous pouvez économiser chaque mois sans compromettre vos dépenses essentielles.

Commencer à suivre vos finances

Rassemblez les informations financières: Rassemblez tous vos documents financiers, y compris les relevés bancaires, les factures de carte de crédit, les factures d’électricité et toute autre source de revenus ou de dépenses.

Choisissez une méthode de suivi: Vous pouvez suivre vos finances en utilisant diverses méthodes, telles que :
- Stylo et papier : Notez vos revenus et vos dépenses dans un cahier ou une simple feuille de calcul.
- Applications mobiles : Il existe de nombreuses applications de budgétisation et de suivi des dépenses disponibles pour les smartphones, facilitant le processus.
- Outils en ligne : De nombreuses plates-formes en ligne, comme Cowrywise, offrent des outils gratuits pour vous aider à suivre vos finances.
Catégorisez vos revenus et dépenses: Divisez vos revenus et dépenses en catégories pour mieux comprendre vos habitudes de dépenses. Les catégories courantes incluent le logement, la nourriture, le transport, les loisirs et l’épargne.

Enregistrez vos transactions régulièrement: La constance est la clé ! Prenez l’habitude d’enregistrer vos transactions quotidiennement ou hebdomadairement. Cela garantit que vous avez une image à jour de vos finances et évite le stress d’essayer de vous souvenir des dépenses plus tard.

Analysez vos finances: Une fois que vous avez suffisamment de données, examinez vos habitudes de dépenses et identifiez les domaines où vous pouvez réduire vos dépenses ou réallouer des fonds. Cette analyse vous aidera à définir des objectifs financiers réalistes et à prendre des décisions éclairées sur votre argent.

Faire les choses correctement

La vie est pleine de surprises. Suivre vos finances vous permet de constituer un fonds d’urgence. Par exemple, lorsque votre voiture a besoin de réparations imprévues, vous pouvez couvrir les coûts sans dérailler votre budget mensuel.

Suivre vos finances peut sembler intimidant au début, mais les avantages qu’il apporte à votre bien-être financier sont immenses.

Avec une meilleure compréhension de où va votre argent, vous pouvez prendre des décisions plus éclairées, créer un budget, rembourser vos dettes et épargner pour l’avenir.

N’oubliez pas que la constance et la détermination sont les clés du succès. Alors, commencez à suivre vos finances aujourd’hui et prenez le contrôle de votre avenir financier !
December 17, 2023
How to Track Your Finances
Managing your money effectively is a crucial skill that can lead to financial stability and long-term success.

Whether you’re just starting your financial journey or looking to improve your money management skills, tracking your finances is the first step towards achieving your financial goals.

In this guide, we break down the importance of tracking your finances and provide tips to help you get started on the right track.

Why track your finances?

Awareness: Tracking your finances enables you to clearly understand where your money is coming from and where it’s going. It’s like creating a roadmap for your finances, which allows you to see the big picture and make informed decisions.

Imagine you spend $5 on a coffee every day before work. By tracking your expenses, you realize you’re spending $150 a month on coffee alone. This awareness might prompt you to cut back to a few times a week, saving around $90 monthly.

Budgeting: Creating a budget is an essential part of financial planning. By tracking your expenses, you can identify areas where you might be overspending and make necessary adjustments to reach your financial goals faster.

Debt management: Keeping track of your debts, such as credit cards or loans, helps you stay on top of payment deadlines and avoid unnecessary interest charges.

Savings and investments: Tracking your finances allows you to set aside money for savings and investments more effectively. It helps you understand how much you can save each month without compromising your essential expenses.

Getting started with tracking your finances

Gather financial information: Collect all your financial documents, including bank statements, credit card bills, utility bills, and any other sources of income or expenses.

Choose a Tracking Method: You can track your finances using various methods, such as:
- Pen and paper: Write down your income and expenses in a notebook or a simple spreadsheet.
- Mobile apps: There are numerous budgeting and expense-tracking apps available for smartphones that make the process easier.
- Online tools: Many online platforms, like Cowrywise, offer free tools to help you track your finances.
Categorize your income and expenses: Divide your income and expenses into categories to get a better understanding of your spending patterns. Common categories include housing, food, transportation, entertainment, and savings.

Record your transactions regularly: Consistency is key! Make it a habit to record your transactions daily or weekly. This ensures you have an up-to-date picture of your finances and avoids the stress of trying to remember expenses later.

Analyze your finances: Once you have enough data, review your spending patterns and identify areas where you can cut back or reallocate funds. This analysis will help you set realistic financial goals and make informed decisions about your money.

Getting it right

Life is full of surprises. Tracking your finances allows you to build an emergency fund. For example, when your car needs unexpected repairs, you can cover the costs without derailing your monthly budget.

Tracking your finances might seem intimidating at first, but the benefits it brings to your financial well-being are immense.

With a better understanding of where your money is going, you can make more informed decisions, create a budget, pay off debts, and save for the future.

Remember, consistency and determination are key to success. So, start tracking your finances today and take control of your financial future!
December 17, 2023
CleanTech Drives FDI Flows to Africa

Africa’s CleanTech landscape is experiencing an unprecedented boom, fueled by a combination of abundant renewable resources, a growing green consciousness, and significant international investment.

But clean energy investments remain concentrated in just a handful of countries while much of the continent’s clean energy potential remains untapped. The IEA estimates that Africa requires $2 trillion in investment to close this gap.

Foreign investors are keenly aware of this opportunity. In 2022, the sector led foreign direct investment into Africa, according to the Africa Attractiveness Report by global consulting giant EY, further cementing the technology industry’s central role in driving investments into the continent.

Tap here to read our summary of the report

December 10, 2023
Meet the Jumia Mafia
If you’re a keen follower of the African tech ecosystem, you must’ve heard of the Paystack, Careem, and Opay Mafia(s) by now.

But have you ever heard of the Jumia Mafia?

For people not familiar with the name, though we hope there’s none, let’s give you a brief introduction to the company.

An e-commerce giant

Jumia started as an online retailer in Nigeria in 2012, co-founded by Jeremy Hodara and Sacha Poignonnec, ex-McKinsey consultants along with Tunde Kehinde and Raphael Kofi Afaedor.

The company has since expanded to at least nine other African countries, where it offers several services, including digital payments and delivery.

In April 2019, the e-commerce operator became the first African startup to list on a major global stock exchange when it debuted on the New York bourse.

One fact about Jumia that’s equally as impressive—as its NYSE IPO or standing as the continent’s largest e-commerce operator—but often overlooked is the impact that the company has had on Africa’s entrepreneurial ecosystem.

Meet the Mafia

Jumia has not only made waves in the African tech industry but also inspired a new generation of entrepreneurs who now run their respective exciting startups.

Some of them include:
- Tunde Kehinde and Ercin Eksin, co-founded Lidya, a Series B startup that provides SMEs with access to finance. The startup uses a credit-scoring system that analyzes a borrower’s online reputation and has raised $16.5 million since its launch.
- Raphael Afaedor is another Jumia alumnus who co-founded Kyosk Digital, a platform that connects informal retailers using kiosks and other similar retail outlets directly to FMCG companies.
- Maguelone Biau co-founded Twende, a ridesharing company that pools African city dwellers with the most direct, affordable, and reliable transport options.
- Kayode Adeyinka is the CEO of Gigmile, a Techstars-backed startup building the services and financial infrastructure for the African gig economy.
- Guy Futi runs ORDA, a startup he co-founded that offers cloud-based restaurant software built for African chefs and food business owners, as CEO.
- Sam Chappatte’s Kapu is a new e-commerce platform that aims to “reduce the cost of living” in Africa. By sourcing directly from farms & manufacturers, creating a low-cost logistics model & minimal food waste, Kapu says it can sustainably pass on savings to its customers. These customers access even lower prices if they place the order as a group (“pamoja”).
- Roger Xavier Macia, a former Chief Commercial Officer at Jumia Senegal, is now the co-founder of Lengo, a startup that combines AI technologies and retailer crowdsourcing to deliver real-time data on consumer goods for FMCGs in Africa.
- Marie-Reine Seshie, Jumia’s former Head of Marketing in Ghana, is now the CEO and co-founder of Kola Market. The startup provides digital inventory management, marketing, and sales solutions to SMEs, powered by AI technology.
- Omolola Oladunjoye, ex-Chief Commercial Officer at Jumia Nigeria, now runs Penda LLC – a fully integrated social commerce platform across Africa.
- Joe Falter, a former executive at Jumia in the UAE for nearly eight years, co-founded Zapp, a startup that provides on-demand grocery delivery services, has raised around $300m, and is backed by some of the world’s leading venture investors.
These are just some of the incredible startups that have been created by former Jumia employees.

Jumia is one of Africa’s earliest tech companies and ranks among the region’s biggest startup success stories.

So it comes as little surprise that former employees and founders have gone on to create their own incredible technology companies, disrupting various industries across the continent.

By sector classification, well over half, or 70% of startups founded by Jumia alumni are either in retail, e-commerce, foodtech, or fintech.

This suggests that Jumia’s early success as an e-commerce giant has created a positive spillover effect, as former employees leverage their experience and networks to create new businesses in related industries such as retail, last-mile delivery & logistics, and digital payments – all crucial components of e-commerce.

Naturally, working in a particular industry provides individuals with valuable insights into the workings of that industry and complementary ones.

Hence, ex-Jumia employees are well-positioned to leverage their expertise and create innovative solutions to meet the needs of consumers in these industries.

And they’re doing so, successfully and with sufficient VC backing.

Collectively, about 14 of such startups we tracked have raised around $330 million in venture capital funding, with over half of them at the seed stage or above.

This shows the talent and expertise that exists within the Jumia ecosystem, which has helped to create a vibrant startup culture out of emerging markets where it operates.

The funding also signals the emergence of a new generation of innovators who are able to attract significant investment and build successful businesses—a positive development for the tech industry.

In addition, it reflects how the African startup ecosystem is becoming increasingly mature and sophisticated, with successful companies spawning new ventures and nurturing the next generation of entrepreneurs.

Altogether, these startups have created around 1,300 direct jobs.

Jumia has served as a springboard for talented individuals who are contributing to the growth of not only Africa’s startup ecosystem but also globally, even after leaving the company.

It’s impressive to see how the e-commerce giant’s success has paved the way for some of Africa’s most brilliant ‘techpreneurs’.

Truly, great companies have the power to inspire incredible founders and fuel the growth of an entire entrepreneurial ecosystem!

By doing so, they help to build a stronger economy and a better future for all.
December 10, 2023
La règle 50/30/20 : Comment établir un budget efficace
Gérer ses finances peut parfois sembler écrasant, mais avec la bonne approche, cela peut devenir une tâche simple et efficace.

Une méthode populaire qui peut vous aider à prendre le contrôle de votre argent est la règle budgétaire 50/30/20.

Dans ce post, nous allons décortiquer cette stratégie budgétaire de manière facile à comprendre, en utilisant des exemples concrets pour illustrer comment elle peut fonctionner pour vous.

Qu’est-ce que la règle budgétaire 50/30/20 ?

La règle budgétaire 50/30/20 est une ligne directrice qui vous aide à répartir vos revenus en trois catégories distinctes : besoins, envies et épargne.

En divisant vos revenus de cette manière, vous pouvez créer un budget équilibré qui vous assure de couvrir vos dépenses essentielles, de vous permettre des dépenses discrétionnaires et d’épargner pour l’avenir.

Plongeons dans chaque catégorie :

50 % pour les Besoins

La première catégorie, qui devrait représenter environ 50 % de vos revenus, englobe vos besoins essentiels. Cela inclut :
- Loyer ou remboursement hypothécaire
- Services publics (électricité, eau, gaz)
- Courses
- Frais de transport (commutation, carburant, transports en commun)
- Cotisations d’assurance maladie
- Paiements minimums de dettes (cartes de crédit, prêts)
Si vos revenus mensuels sont de 3 000 $, votre catégorie de besoins ne devrait pas dépasser 1 500 $. Cela signifie que si votre loyer est de 800 $, les services publics coûtent 150 $ et les courses s’élèvent à 250 $, il vous reste encore 300 $ pour couvrir d’autres dépenses nécessaires.

30 % pour les Envies

La deuxième catégorie, représentant environ 30 % de vos revenus, se concentre sur vos dépenses discrétionnaires et vos envies. Cela inclut :
- Sortir manger
- Divertissement (films, concerts, loisirs)
- Services d’abonnement (plateformes de streaming, adhésions à la salle de sport)
- Achats d’articles non essentiels
Avec un revenu mensuel de 3 000 $, votre catégorie d’envies devrait être limitée à 900 $. Supposons que vous décidez de dépenser 200 $ pour manger dehors, 100 $ pour le divertissement et 200 $ pour les achats. Après déduction de ces dépenses, il vous reste encore 400 $ pour d’autres envies éventuelles.

20 % pour l’Épargne

La dernière catégorie est dédiée à l’épargne et devrait représenter au moins 20 % de vos revenus. Cette partie vous permet de constituer un fonds d’urgence, d’épargner pour des objectifs à long terme et d’investir pour l’avenir. Certaines options d’épargne comprennent :
- Constituer un fonds d’urgence
- Contribuer à des comptes de retraite (401(k), IRA)
- Investir dans des actions ou des fonds communs de placement
- Économiser pour un acompte sur une maison
- Rembourser les dettes plus rapidement
Avec un revenu mensuel de 3 000 $, votre catégorie d’épargne devrait s’élever à 600 $. Cet argent peut être utilisé pour constituer un fonds d’urgence, contribuer à un compte de retraite ou travailler vers d’autres objectifs financiers.

Pourquoi utiliser la règle budgétaire 50/30/20 ?

La règle budgétaire 50/30/20 fournit un cadre clair pour gérer votre argent et garantit que vous répartissez vos revenus de manière à couvrir vos besoins essentiels, à permettre des dépenses discrétionnaires et à encourager l’épargne pour un avenir sécurisé. Elle vous aide à trouver un équilibre entre profiter du présent tout en vous préparant également pour demain.

L’importance de l’établissement d’un budget

Établir un budget est une compétence essentielle pour atteindre la stabilité financière et la tranquillité d’esprit. La règle budgétaire 50/30/20 offre une approche simple pour gérer votre argent et constitue une base solide pour les débutants.

En mettant en œuvre cette règle, vous pouvez prendre le contrôle de vos finances, prioriser vos dépenses et progresser vers vos objectifs financiers à long terme.

N’oubliez pas, cette ligne directrice budgétaire est flexible et peut être ajustée en fonction de votre situation.
December 10, 2023