Africa Bitcoin Corporation lists in Germany as it chases global investors

Africa Bitcoin Corporation (formerly Altvest Capital Limited), a South Africa-based Bitcoin treasury and SME-finance company, has listed on the Börse Frankfurt Quotation Board, part of the open market segment of Germany’s stock exchange, as it charts a path to make Bitcoin accessible to global investors.

The company also began trading on two of Germany’s most active retail trading venues, Tradegate, a major online exchange popular with European retail investors, and Lang & Schwarz, a German financial services company that offers brokerage services to clients and runs a trading platform for securities.

ABC’s European debut is part of a broader multi-exchange expansion. On November 26, it listed on the OTCQB Venture Market, an over-the-counter exchange designed for US and international development-stage companies that do not yet meet the requirements for national exchanges such as the NYSE or Nasdaq.

Its business model rests on a two-pillar strategy: accumulating and holding Bitcoin in its corporate treasury to grow Bitcoin per share (BPS) over time, while keeping its legacy operating businesses, including SME lending and advisory services, “ring-fenced” and income-generating. The company uses net asset value (NAV) per share,  the value of its assets divided by the number of shares, as its primary performance metric.

ABC is currently listed in South Africa (Johannesburg Stock Exchange and A2X Markets), Namibia (NSX), the US (OTCQB), and Germany, with additional African listings planned in Botswana and Kenya. The company says expanding abroad early helps it gain access to well-capitalised pension funds and family offices looking for indirect exposure to Bitcoin through regulated equities, rather than holding the digital asset directly.

“European retail and institutional investors already understand Bitcoin treasury companies, which shortens the education cycle,” said Stafford Masie, executive chairman of Africa Bitcoin Corporation. “It diversifies our investor base beyond South Africa and supports efficient cross-listing liquidity once we expand across Africa, proving that we can execute locally, pan-African, and globally. The European listing enhances, rather than replaces, our Africa-focused roadmap.”

The company plans to raise $210 million over the next three years through share issuances, with most of the capital earmarked for scaling its SME private credit operations and buying more Bitcoin to build what it hopes will become Africa’s largest listed Bitcoin treasury firm. As of December 2025, ABC holds 3.1950 Bitcoins accumulated as part of its disciplined balance-sheet strategy, according to Masie. 

Its financial statement for the six months ending August 31, 2025, shows the company has a net asset value (NAV) of R125.97 million ($7.4 million) and a market capitalisation of R99 million ($5.8 million) at a reference share price of R9.00 ($0.53). ABC, which was neck-deep in the red the previous year, posted R27.23 million ($1.6 million) in profit before tax, and was profitable after taxes at R21.32 million ($1.24 million) in 2025.

Despite overall group performance, the company posted a consolidated loss of R10.78 million ($630,000) for the period at its lending subsidiary, Altvest Credit Opportunities Fund (ACOF), driven by operating expenses and loan impairments. ACOF had deployed R320 million ($18.7 million) in loans to 39 SMEs, backed by R618 million ($36 million) in security, and has supported or created more than 1,650 jobs.

ABC also owns real estate “legacy” assets, including Umganu Lodge, a luxury safari lodge near Kruger National Park, and Bambanani, a family-oriented restaurant and play centre in Johannesburg. The company plans to introduce Bitcoin payment options across its restaurants, giving parents and families the choice of transacting in digital assets, as it shifts its strategic focus to building a Bitcoin treasury.

“Our vision is to be the largest African-listed company holding Bitcoin on its balance sheet, while also being the partner of choice for SMEs across [Africa],” said CEO Warren Wheatley in the August report. “We have already made progress, raising capital and deploying it into high-impact ventures. As we expand our reach beyond South Africa into the rest of the continent, our  purpose remains clear: to unlock opportunity, build sustainable value, and empower the next generation of African entrepreneurs and investors.”

The company says its long-term ambition is to accumulate up to 2,100 Bitcoins in 21 months as part of its treasury strategy and to position itself among Africa’s top listed companies within five years. 

“We continue to deploy capital opportunistically, always with an emphasis on long-term accretion and responsible treasury management,” said Masie. “It is still early days, and as we open in various markets, we are actively engaging with capital allocators.”