Africa Bitcoin Corporation reports 108% increase in net asset value
INVESTMENT
The listing on the Namibia Stock Exchange of Africa Bitcoin Corporation, the AltX-listed black-owned and managed SME financing and financial services company that is focused also of acquiring Bitcoin for its treasury, became effective on October 2, 2025.
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Africa Bitcoin Corporation’s (ABC) net asset value (NAV) per ordinary share would increase by 108% to R13.40 by the end of the six months to August 31, compared with the same period a year before.
The company, which until recently was known as Altvest Capital, saw the secondary listing of its shares and preferred C ordinary shares become effective on the Development Capital Board of the Namibia Stock Exchange (NSX) on Thursday. This listing formed a central part of the company’s multi-exchange listing strategy, aimed at broadening access to regulated Bitcoin exposure across Africa and internationally.
The company is also offering up to 1 million shares at N$11 per share, in a capital raise, the proceeds of which are expected to be used to acquire Bitcoin for the company’s treasury. The capital raise opened on September 8, 2025, and closes on October 23, 2025.
The company said in a trading statement that relative to the NAV per ordinary share of R11.49 reported as at February 28, 2025, the current NAV would likely reflect an increase of 16.6%.
The NAV per preferred A share was R2, a marginal increase of 0.5% over the comparative period last year, while it decreased 9.9% relative to the NAV per A share of R2.22 as at February 28, 2025.
The NAV per preferred B share of R4.93 represented a 50% decrease over the same period a year before, and it remained unchanged relative to the NAV of R4.93 as of February 28, 2025.
The NAV per preferred C share increased 13.5% to R3.44 over the same time last year, representing an increase of 13.5% when compared to the NAV for the same period a year before and as at the end of February 2025 of R3.03.
The directors ascribed the increase in NAV per ordinary share to strong fair value gains across the company's investment portfolio, driven by favourable market conditions and improved valuations of several underlying assets.
“The marked increase in NAV underscores the resilience and growth potential of the portfolio in a dynamic market environment,” the group directors said.
They said the NAV per A share reflected the performance of a relatively stable share class in a dynamic market environment, while the short-term movement since February 2025 underscored the impact of market volatility on valuations.
The decline in NAV per preferred B share reflected the ongoing restructuring of the business, which, while necessary for long-term sustainability, had exerted short-term pressure on asset valuations and operational performance.
The stability of the NAV at the current level suggested that the most significant restructuring effects may be approaching completion, positioning the company for future recovery and growth, the directors said.
The increase in NAV per C share highlighted progress in operational execution, disciplined credit management, and successful capital raises, all of which have supported robust loan book growth and enhanced asset values.
The price of the “A” share was unchanged at R1.40 on the JSE on Thursday afternoon.
“While market conditions may present some variability, the outlook for the preferred ordinary C share remains encouraging, underpinned by a strengthened balance sheet and a clear strategic focus on unlocking further value across the portfolio,” the directors said.
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