Worth a MNT

MNT-Halan, Egypt’s first fintech unicorn, is opening its local business to public investors. Subscriptions for MNT Tech Holding for Financial Investments began on Wednesday at EGP 24.5 ($0.47) per share, valuing the company at EGP 39.2 billion ($750 million). The base offer covers 320 million existing shares, about 20% of the company, and could raise EGP 7.84 billion ($150 million). Trading is expected to start on October 20.

Explain like I’m new here: This is not a conventional capital raise. MNT-Halan’s shareholder is selling existing shares, so the initial public offering (IPO) proceeds go to the shareholder, not the listed Egyptian company. The shareholder then plans to put up to EGP 4 billion ($76 million) back into the Egyptian business through a separate capital increase. The rest will fund MNT-Halan’s Turkish operations and another acquisition. 

Between the lines: MNT-Halan has fixed the price before taking orders. Investors won’t bid the stock up or down during the offer, so demand will show up in how oversubscribed the IPO becomes and how the shares trade after listing. Commercial International Bank (CIB) and London fund Redwheel have already committed up to about 39% of the base offer, giving MNT-Halan a large block of demand before the public book closes.

Why it matters: The EGP 24.5 ($0.47) offer price values MNT-Halan at about 20 times its 2025 profit, compared with 28.5 times for listed fintech Valu, the consumer lending company. The discount gives MNT-Halan’s investors some room for upside, but timing matters just as much. MNT-Halan’s founder Mounir Nakhla says the company might have raised only $30–40 million in 2024. A $150 million targeted raise could suggest investors are far more willing to back large Egyptian growth companies than they were two years ago.

Quickmart’s owners are already selling half of Kenya’s second-largest supermarket chain to the public. They could sell much more soon after. The retailer’s initial public offering (IPO) documents show that only 60% of the shares its existing owners retain after the listing will be locked up for two years. The remaining 800 million shares, equal to another 20% of Quickmart, can be sold without waiting for that period to end.

What’s buzzing? Quickmart’s sole shareholder, Sokoni Retail Kenya, is currently offering two billion existing shares at KES 7.50 ($0.58) each. A full sale would raise KES 15 billion ($116 million) for Sokoni and leave it with 50% of Quickmart. Sokoni will retain two billion shares after the IPO. About 1.2 billion shares will be locked up for 24 months, but it can sell the remaining 800 million. 

Explain like I’m new here: Lock-ups stop major shareholders from selling immediately after an IPO, reassuring new investors that insiders will keep some money in the business. Quickmart’s owners include private equity firm Adenia Partners, the families behind Quickmart and Tumaini supermarkets, and chief executive officer Peter Kang’iri. Adenia began investing in the two retailers in 2018 and merged them in 2020.

Between the lines: The arrangement gives Quickmart’s owners room to continue their exit without waiting two years. Adenia, in particular, is already eight years into an investment cycle that private equity funds typically expect to end within seven to ten years. More sales are not guaranteed, but 800 million unlocked shares create a large pool that could enter the market if owners want more liquidity.

Zoom out: Quickmart’s IPO does more than list a supermarket on the Nairobi Securities Exchange (NSE). It shows private investors that the exchange can provide staged exits, rather than forcing owners to choose between staying private and selling out completely.

South African mobile users were supposed to get new rules that give them more control over their mobile data, including allowing unused bundles to roll over and stopping surprise out-of-bundle charges. But MTN and Vodacom have challenged the rules in court, putting those protections on hold.

What happened? The Independent Communications Authority of South Africa (ICASA), the country’s telecom regulator, said MTN and Vodacom’s legal action will delay its new data rules. The rules were due to take effect on January 23, 2027, but ICASA told Parliament it cannot enforce them while the court cases are ongoing. 

Explain like I’m new here: ICASA published the amended End-User and Subscriber Service Charter regulations in January 2026, aiming to give mobile customers more protection over the bundles they have already paid for.

Under the new rules, operators must roll over unused data at least once after a bundle expires, without charging customers or requiring an extra step. Operators must also use the oldest bundle first and send depletion data alerts at 50%, 80%, and 100%.

Why are MTN and Vodacom fighting those rules? In July, Vodacom challenged out-of-bundle usage, bundle rollovers, bundle transfers, and the exemption of mobile virtual network operators (MVNOs). It is particularly concerned that customers who haven't opted into out-of-bundle charging could have calls cut off automatically once their bundles run out. MTN has also filed a review the same month, saying it wants the framework to be lawful, reasonable, competitively neutral, and practical to implement. ICASA accused both companies of collusion, but the regulator went back on its word in August.

What happens now? Nothing changes for you yet. The existing rules remain in place while the court process plays out. The pending rules could give users more control over unused bundles. However, before South Africans get those benefits, the courts must decide whether the rules would be upheld.

Believe it or not, space is becoming a big deal to African countries.

Ghana’s Cabinet has approved plans to establish a national space agency, and the government has begun drafting the law needed to create it. The new agency will grow out of the Ghana Space Science and Technology Institute (GSSTI), which currently operates under the Ghana Atomic Energy Commission (GAEC). 

Explain like I’m new here: Ghana does not currently have a standalone space agency. GSSTI has led the country’s space-science work for more than a decade. It began as a centre in 2011, was officially launched in 2012, and became an institute in 2013, with a mandate to apply space science and technology to Ghana’s development.

What would the agency do? It would coordinate space activities across government, organise the acquisition and processing of satellite imagery, support research and innovation, build partnerships with private companies and international organisations, and develop Ghanaian expertise in areas such as satellite engineering, remote sensing and geospatial science.

Over time, the government also wants to build more domestic satellite capability rather than depending so heavily on third-party providers.

Why does Ghana want this now? Space in Africa, a market research company, estimates that about 300 commercial space companies across 36 African countries generated $373.35 million in revenue in 2024, with the industry projected to reach $580 million by 2030. 

Space is a big deal for Africa: Nigeria’s National Space Research and Development Agency (NASRDA) has developed and launched Earth-observation and communications satellites, and uses satellite data for agriculture, flood monitoring, environmental mapping, and security. Kenya’s Space Agency runs Earth-observation programmes and is building capabilities in satellite communications and manufacturing, while Rwanda develops ground infrastructure and satellite applications in agriculture and disaster management. 

Ghana’s agency would give the country a central institution to coordinate its space ambitions through GSSTI and figure out where it wants to play as Africa’s space economy grows.

The World Wide Web3

Source:

Coin Name	Current Value	Day	Month
Bitcoin	$84,220	- 1.70%	+ 5.43%
Ether	$2,618	- 3.20%	+ 4.16%
Doppler Finance	$0.01885	- 6.19%	+ 17.14%
Solana	$118.66	- 1.16%	+ 12.35%

* Data as of 06.40 AM WAT, October 7, 2026.

Written by: Yemi Kareem and Emmanuel Nwosu

Edited by: Emmanuel Nwosu & Ganiu Oloruntade