Kelvin Umechukwu, co-founder and CEO of Bumpa, has made it to the Top 10 finalists for Africa's Business Heroes 2026, chosen from a pool of more than 24,000 applicants across the continent. The public vote for the People's Choice Award is open now, and if his work building tools for small businesses speaks to you, your vote counts.
MNT-Halan's debut on the Egyptian Exchange is the IPO story everyone in African tech has been watching. Egypt's fintech unicorn closed its first trading day 6.6% above its IPO price of EGP24.50 (about $0.47), after climbing as much as 18% earlier in the session. Both the retail and institutional tranches of the offering were oversubscribed, and the listing raised roughly EGP7.84 billion, or $150 million, through the sale of a 20% stake in its local Egyptian business.
One distinction worth keeping in mind: the shares sold were held by existing shareholder MNT Investments, not by MNT-Halan itself. That means the company did not receive the listing proceeds directly. The shareholder has, however, said it plans to inject up to EGP4 billion ($76 million) back into the Egyptian business separately.
The strong close on day one signals that the offer price left enough upside for new investors to feel good about buying in. Whether that momentum holds is the real question now.
Originally published by TechCabal.