Why did we list on a stock exchange?

Why is Africa Eats a publicly listed company? Why did we do that when the company was valued at just $25 million? Why Mauritius?

Recorded live at Africa Eats’ 2026 Annual Gathering. Africa Eats’ co-founders Luni Libes and Jumaane Tafawa answer these and related questions. A glimpse into the internal-only Day 2 activities of that event.

AI SUMMARY:

Key Highlights & Core Motivations

• Democratizing Public Markets for African SMEs Africa Eats successfully listed itself alongside two of its portfolio companies (Elite Meat Processing from Rwanda and Ziweto, an agrovet supplier from Malawi) in a single day. The goal was to prove that smaller African businesses with strong growth trajectories can leverage public markets for expansion.
• The Problem of Illiquidity The reality is that African stock exchanges are notoriously illiquid. To combat this, Africa Eats pioneered the creation of Africa’s first dedicated equity market maker (Tuesday Markets) to ensure continuous trading and liquidity for their shares (EATS, ELIT, and ZWTO).
• Access to Permanent Capital Unlike traditional venture capital or private equity funds that operate on rigid 7 to 10-year exit timelines—forcing premature sales of successful businesses—a public listing provides permanent capital. This allows Africa Eats to behave more like a “Berkshire Hathaway for Africa,” holding and nurturing agricultural and food companies for the long term.
• Financial Proof of Concept The strategy has yielded tangible results. By the close of their 2025 financial cycle, aggregate portfolio revenues had crossed $56 million USD and the stock price has followed those fundamentals.