Chamwe Kaira
Africa Bitcoin Corporation Limited, formerly Altvest Capital Limited, has strengthened its position in the cryptocurrency market with a new Bitcoin purchase.
The Johannesburg-based company, which was recently listed on the Namibian Stock Exchange (NSX), announced that it acquired one Bitcoin through its subsidiary, Africa Bitcoin Strategies, for N$1.87 million at an average price of N$1.87 million per BTC.
The acquisition, completed on 3 November, was financed from the proceeds of a recent equity capital raise of N$4.05 million.
Following the transaction, Africa Bitcoin Corporation (ABC) now holds a total of 2.0116 BTC valued at about N$3.69 million, with an average acquisition price of N$1.83 million per Bitcoin.
The company said the purchase is part of its “Bitcoin Treasury Strategy”, which focuses on holding Bitcoin as a long-term store of value and giving shareholders exposure to the cryptocurrency’s growth potential.
ABC’s secondary listing on the NSX’s Development Capital Board became effective on 2 October.
Its ordinary shares and preferred C ordinary shares are now traded in Namibia under the codes BAN and BANC. The listing coincided with the company’s ongoing equity capital raise, offering up to one million ordinary shares at N$11 per share to South African and Namibian investors.
ABC said the funds raised will support its Bitcoin Treasury Strategy, with part of the proceeds reserved for future cryptocurrency acquisitions.
The company’s NSX listing aims to strengthen access to capital markets and supports its goal of integrating Bitcoin into Africa’s financial systems as a reserve asset.
Africa Bitcoin Corporation is already listed in South Africa and is the first publicly listed Bitcoin treasury company on the continent. Its expansion plans include directing capital into high-growth regions in East, West, and Southern Africa to promote job creation, economic growth, and sustainable returns for investors.
The company also plans to build its foundation as a non-bank lender to small and medium enterprises while preparing for the next phase of growth under the Africa Bitcoin Corporation brand.
It is exploring partnerships and co-investments in East and West Africa to address funding gaps faced by SMEs. Future listings are planned for stock exchanges in Botswana and Kenya.
Earlier this year, the Bank of Namibia (BoN) granted provisional authorisation to four entities to provide payment and virtual asset services.
Africa Bitcoin Corporation said it will continue accumulating Bitcoin as part of its long-term strategy to expand shareholder exposure to the digital asset’s potential.
