Staff Writer
Africa Bitcoin Corporation, which is also listed on the Namibia Securities Exchange, expects mixed performance across its share classes for the financial year ended 28 February 2026.
The company expects gains in its ordinary shares and preferred C shares, while preferred A and preferred B shares are expected to decline.
Africa Bitcoin Corporation, formerly known as Altvest Capital Limited, said net asset value (NAV) per ordinary share is expected to increase to between R4.11 and R4.49 from a restated R3.82 recorded in the previous financial year.
This represents expected growth of between 7.56% and 17.56%.
The company said the increase is linked to fair value adjustments in its investment portfolio, supported by improved market conditions and stronger valuations across most underlying assets.
Africa Bitcoin Corporation said its investment strategy focuses on increasing shareholder value through investment selection and active portfolio management.
The company expects NAV per Preferred A ordinary share, linked to the Umganu Lodge investment, to decline to between R1.88 and R2.10 from R2.22 previously.
This reflects a decline of between 5.51% and 15.51%.
According to the company, the decline was mainly caused by higher repair, maintenance and advertising costs at the lodge, despite stable occupancy levels and slightly improved revenue.
The company also expects NAV per Preferred B ordinary share, linked to Bambanani Family Group, to fall to between R3.51 and R4.01 from R4.93.
This represents a decline of between 18.75% and 28.75%.
Africa Bitcoin Corporation said losses at the Bedfordview and Melville restaurant operations affected performance.
Following the financial year-end, the company started a restructuring process that included the closure of Bambanani Melville, operational changes at Bedfordview and the launch of the Bambanani at Home e-commerce platform.
The company said the changes are aimed at protecting long-term brand value.
Meanwhile, NAV per Preferred C ordinary share, linked to the Altvest Credit Opportunities Fund, is expected to rise to between R3.50 and R3.80 from R3.03.
This represents growth of between 15.37% and 25.37%.
The company said the increase was supported by growth in its loan book and assets under management, which reached R502 million during the year through new institutional mandates.
Africa Bitcoin Corporation also noted that it completed a 3-for-1 subdivision of its ordinary shares on 28 April 2026.
The subdivision resulted in the retrospective restatement of comparative per-share figures in line with accounting standards.
