Hello there. 
Confession time: my understanding of stock exchanges mostly comes from watching The Wolf of Wall Street, which might not be the most reliable source. Still, I grasp that companies leaving a stock exchange is generally negative, while longer trading hours tend to be positive. Right?
If you’re more versed in this area-or eager to learn-then you'll find our insights on the Johannesburg Stock Exchange and Nigerian Stock Exchange quite valuable.
Wishing you a great upcoming weekend-stay strong!
-Zia
- Metrofile withdraws from the JSE
- Katlego Maphai resigns as Yoco CEO
- BYD unveils South Africa’s most budget-friendly electric vehicle
- NGX considers longer trading hours
- There Should Be An App For That
- World Wide Web 3
- Upcoming Events
Startups
Metrofile exits Johannesburg Stock Exchange through $80 million acquisition
Metrofile, a leading South African firm specializing in information and records management, is officially withdrawing from the Johannesburg Stock Exchange (JSE). On September 16, the company agreed to a buyout at R3.25 ($0.19) per share by Mango Holding Corp, a Delaware-registered entity supported by investors linked to the US.
Who is behind the acquisition? Mango Holding is financed by WndrCo, a Silicon Valley investment group, alongside a consortium of affluent private investors.
Reason for the sale: Metrofile aims to accelerate its digital transformation journey, which began in 2016. The new ownership is expected to inject both capital and expertise to broaden its digital footprint across Africa and the Middle East.
Nevertheless, Metrofile’s 2024 financial report reveals a 3% decline in revenue from its South African operations and an 18% drop in operating profit, attributed to reduced product sales and diminished digital service income.
The JSE’s contraction: The number of companies listed on the JSE has shrunk dramatically-from roughly 850 in the 1990s to about 300 today. Recent departures include African Rainbow Capital Investments, MiX Telematics, Cognition Holdings, and TeleMasters, with MultiChoice poised to exit following its acquisition by French media conglomerate Canal+.
Implications: Each company’s exit reduces the JSE’s market depth and liquidity, limiting investor options and raising concerns about the exchange’s role as a growth platform. This trend may prompt major investors to seek alternatives, potentially undermining the JSE’s ability to attract innovative enterprises in the long run.
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Startups
Katlego Maphai, founding CEO of South African fintech Yoco, resigns
After more than ten years at the helm, Katlego Maphai has stepped down as CEO of Yoco, one of South Africa’s pioneering fintech companies. Since co-founding the startup in 2013, Maphai has transformed it into a dominant player in payment solutions, supporting hundreds of thousands of small businesses and processing billions in transactions annually.
Yoco’s innovation lay in democratizing digital payments for merchants traditionally excluded from formal financial systems, offering affordable card readers and straightforward onboarding to overcome cash-only limitations.
Expansion and impact: The company has grown beyond physical point-of-sale devices to include online payment options, financial products, and a comprehensive platform aimed at empowering SMEs in the digital economy. Its strong brand loyalty and close merchant relationships have created a competitive edge against rivals like iKhokha and international entrants targeting South Africa’s SME sector.
Looking ahead: In 2021, Yoco secured $83 million in one of the largest fintech funding rounds in the country, fueling product development and regional expansion. Leadership will now be shared between co-founders Lungisa Matshoba, focusing on product innovation, and Bradley Wattrus, overseeing scaling and governance.
The upcoming hurdle for Yoco lies in expanding its footprint beyond South Africa while preserving the merchant-centric philosophy that has been key to its growth. Successfully adapting its business model across other African nations could position Yoco as a leading fintech innovator on the continent.
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Mobility
BYD Introduces Budget-Friendly Electric Vehicle to South African Market
The Chinese automaker BYD has disrupted South Africa’s automotive landscape by launching the Dolphin Surf, a compact electric vehicle starting at R339,900 ($19,570). This positions it as the most affordable EV in the country, undercutting competitors like the Dayun S5 by approximately R60,000 ($3,500), thereby making electric vehicles more accessible to everyday consumers.
The Dolphin Surf is available in two variants: the “Comfort” model, equipped with a 30kWh battery offering a 232km driving range, and the “Dynamic” version, featuring a 38.8kWh battery that extends the range to 295km.
Both trims incorporate BYD’s Blade Battery technology alongside the e-Platform 3.0, enhancing safety and energy efficiency. While the vehicle’s performance is modest-with a top speed of 130km/h and acceleration from 0 to 100km/h taking over 14 seconds-it is tailored for city driving rather than high-speed travel.
A notable innovation is the Vehicle-to-Load (V2L) feature, which enables the car to function as a portable power source. In a country frequently affected by power outages, this capability is particularly valuable. The “Comfort” model can supply power to an average household for roughly 30 hours, while the “Dynamic” extends this to nearly 39 hours. Each vehicle includes a 7kW home wall charger as standard.
Additional highlights: The Dolphin Surf boasts a tech-rich interior, featuring a 10.1-inch touchscreen compatible with Apple CarPlay and Android Auto, wireless charging, and even a karaoke function. With battery warranties lasting up to eight years, BYD aims to alleviate consumer concerns and boost confidence in EV adoption.
Looking ahead: The aggressive pricing strategy of the Dolphin Surf could be the catalyst for mainstream EV adoption in South Africa. While the near $20,000 price tag may not be affordable for all, it is likely to ignite competitive pricing battles among well-funded Chinese EV manufacturers striving for market leadership.
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Capital Markets
Nigeria Stock Exchange Proposes Extended Trading Hours
The Nigerian Exchange Limited (NGX) is considering a significant adjustment to its trading schedule. The proposal aims to extend market hours from the current 9:30 am – 2:30 pm slot to a full-day session running from 9:00 am to 5:00 pm West African Time (WAT). Although this idea has been discussed quietly for several years, it is now gaining traction.
Historical context: Previously, the exchange closed at 12:30 pm daily. In December 2010, trading hours were expanded to 9:30 am – 2:30 pm WAT to attract more international investors and enhance liquidity. Later that year, there was an intention to further extend hours to 4:30 pm WAT, but this was never implemented. Now, after 15 years, the exchange is revisiting the idea of longer trading hours.
Rationale: The primary motivation is to boost liquidity. By keeping the market open longer, NGX hopes to increase daily trading volumes and draw more foreign investment. This change would also bring Nigeria’s market hours closer to global standards, offering traders more flexibility and reducing end-of-day congestion.
Global comparisons: Extended trading hours are common among major exchanges. For instance, the London Stock Exchange, Euronext Amsterdam, and Germany’s Deutsche Börse operate approximately eight and a half hours daily, from 9:00 am to 5:30 pm Central European Summer Time (CEST). In Asia, Tokyo and Hong Kong stock exchanges have trading sessions lasting over five hours.
African context: Kenya’s stock market operates from 9:00 am to 3:00 pm, while South Africa’s Johannesburg Stock Exchange (JSE) is exploring the possibility of 24-hour trading to align with international trends.
The move to lengthen trading hours signals Nigeria’s ambition to compete on a global scale. Whether this will translate into increased liquidity remains to be seen.
AN APP FOR EVERY COMMUTER’S NEED!
For those who navigate Lagos’ bustling public transit daily, the frustrations are all too familiar: missing the BRT bus by mere seconds, enduring long rides standing due to lack of seats, squeezing into a danfo’s solitary backrest-free seat, or being stuck in the rear row of a Sienna with no ventilation (UNILAG students will surely relate).
Envision a mobile application that allows you to book your seat instantly before arriving at the bus stop. By using your real-time location, it pairs you with the appropriate vehicle, sparing you from waiting in discomfort or uncertainty. Whoever develops this solution will truly empower commuters to take control of their daily journeys.
I’m Yemi, and honestly, there should be an app for that!
CRYPTO TRACKER
Exploring the Web3 Revolution
Source:
| Coin Name | Current Value | Daily Change | Monthly Change |
|---|---|---|---|
 Bitcoin |
$117,695 |
+1.03% |
+2.49% |
| Ether |
$4,619 |
+2.60% |
+7.94% |
| Pump.fun |
$0.008659 |
+5.78% |
+191.70% |
| Solana |
$246.63 |
+5.14% |
+38.47% |
* Data accurate as of 5:20 AM WAT, September 18, 2025.
Upcoming Events
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Entertainment Week Africa (EWA), previously known as Entertainment Week Lagos, is set to return from November 18 to 23, 2025. As a continent-wide platform supporting the $58.4 billion creative industry, EWA has attracted over 53,000 participants spanning film, music, fashion, and technology sectors. This year, the event will debut a specialized film and music marketplace where creators, labels, directors, and publishers can directly pitch, license, and sell to investors and buyers. Additionally, practical workshops will prepare participants for these engagements. Highlights include a job fair featuring 50 companies, an expanded deal room accelerator backed by a ₦25 million seed fund, and numerous film premieres under the theme “Close the Gap.” Discover more here.
- My Journey in Tech: From FIFA to founding an affordable school in South Africa
- Kenya’s Central Bank points to hackers for mobile banking fraud, but insiders might be the true culprits
- When Africa’s internet falters, this vessel steps in to restore connectivity
- MTN Nigeria obtains NCC’s approval to lease spectrum from 9Mobile
- CBK launches KESONIA Index to monitor lending rates
Written by: Emmanuel Nwosu and Opeyemi Kareem
Edited by: Ganiu Oloruntade
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