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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Africa Bitcoin Corporation

BAN · Namibian Stock Exchange · Incorporated in South Africa · Consolidated statements

On this page
Company details
Legal name
Africa Bitcoin Corporation Limited
Incorporated in
South Africa
Listing
BAN on the Namibian Stock Exchange, active (observed 2026-10-06)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
28 February

Overview

Year ended 28 February 2026 · annual report, signed / final · source

  • Revenue

    ZAR 8.64 million

    8,639,657 ZAR units · p218

    +13.9% vs 2025

  • Operating profit / (loss)

    ZAR 24.3 million

    24,317,472 ZAR units · p218

    −60.4% vs 2025

  • Profit / (loss) for the year

    ZAR 16.9 million

    16,873,452 ZAR units · p218

    −64.8% vs 2025

  • Total assets

    ZAR 348 million

    347,931,562 ZAR units · p216

    +36.4% vs 2025

  • Total equity

    ZAR 147 million

    146,793,605 ZAR units · p216

    +16.5% vs 2025

  • Cash from operations

    −ZAR 26.0 million

    (26,010,992) ZAR units · p221

    Change not shown.

Large amounts are rounded for reading (ZAR million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Not shown: the prior-year figure is zero or negative.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in ZAR units unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY to 28 Feb 2026 — annual report, signed / final; reported for the year · source
  • FY to 28 Feb 2025 — annual report, signed / final; comparative in the FY to 28 Feb 2026 filing · source

Income statement

Income statement, ZAR units. Columns: FY to 28 Feb 2026 — annual report (signed / final), as reported for the year; FY to 28 Feb 2025 — annual report (signed / final), comparative reported in the annual report for 2026.
Line (as printed) FY to 28 Feb 2026Annual reportreported for the yearFY to 28 Feb 2025Annual reportcomparative in FY to 28 Feb 2026 filing
Revenue 8,639,657 7,585,231
Other income 7,811,604 88,035
Fair value gain on investments designated at FVTPL 58,114,549 86,220,685
Fair value loss on liabilities designated at FVTPL1 (7,063,327) (2,871,245)
Interest income 5,409 95,895
Foreign currency losses (23,673) (1,758)
Operating expenses (40,981,356) (29,396,383)
Impairment of Bitcoin2 (2,185,391) (236,414)
Profit from operating activities 24,317,472 61,484,046
Finance costs (3,764,710) (1,729,573)
Profit before tax 20,552,762 59,754,473
Income tax expense (3,679,310) (11,810,260)
Profit for the year 16,873,452 47,944,213
Total comprehensive income for the year 16,873,452 47,944,213
Notes and alternative reported figures (2)
  1. “Fair value loss on liabilities designated at FVTPL” is an issuer-specific line, not mapped to a shared definition: Note 17.
  2. “Impairment of Bitcoin” is an issuer-specific line, not mapped to a shared definition: Note 6.

Balance sheet

Balance sheet, ZAR units. Columns: FY to 28 Feb 2026 — annual report (signed / final), as reported for the year; FY to 28 Feb 2025 — annual report (signed / final), comparative reported in the annual report for 2026.
Line (as printed) FY to 28 Feb 2026Annual reportreported for the yearFY to 28 Feb 2025Annual reportcomparative in FY to 28 Feb 2026 filing
Property plant and equipment 198,082 586,001
Intangible assets 1,132,272 1,204,199
Intangible assets - Bitcoin and USDC1 5,543,359 –2
Investments in financial assets 308,345,378 250,170,788
Deferred tax asset 30,169,575 –2
Total non-current assets 345,388,666 251,960,988
Trade and other receivables 2,431,580 148,420
Loan to group company3 –4 2,866,095
Cash and cash equivalents 111,316 25,587
Total current assets 2,542,896 3,040,102
Total assets 347,931,562 255,001,090
Stated capital 60,554,578 56,500,000
Retained income 85,413,664 69,466,518
Share based payment5 825,363 –6
Total equity 146,793,605 125,966,518
Lease liabilities –7 149,769
Financial liabilities designated at fair value through profit or loss8 97,958,148 90,832,719
Promissory note9 –7 10,439,855
Deferred tax liabilities 48,145,273 14,296,388
Total non-current liabilities 146,103,421 115,718,731
Interest bearing borrowings 2,106,336 1,413,840
Trade and other payables 2,415,244 2,830,199
Promissory note10 11,544,851 –11
Loan payable12 33,589,036 3,358,821
Lease liabilities 154,957 429,696
Leave pay accrual13 781,417 400,406
Bank overdraft 4,442,695 4,882,879
Total current liabilities 55,034,536 13,315,841
Total liabilities 201,137,957 129,034,572
Total equity and liabilities 347,931,562 255,001,090
  1. Printed “–”, read as nil: subtotal_arithmetic: bs.non_current_assets.
  2. Printed “–”, read as nil: subtotal_arithmetic: bs.current_assets.
  3. Printed “–”, read as nil: subtotal_arithmetic: bs.total_equity.
  4. Printed “–”, read as nil: subtotal_arithmetic: bs.non_current_liabilities.
  5. Printed “–”, read as nil: subtotal_arithmetic: bs.current_liabilities.
Notes and alternative reported figures (8)
  1. “Intangible assets - Bitcoin and USDC” is an issuer-specific line, not mapped to a shared definition: Note 6: Bitcoin and USDC held, non-current.
  2. “Loan to group company” is an issuer-specific line, not mapped to a shared definition: Note 11, current.
  3. “Share based payment” is an issuer-specific line, not mapped to a shared definition: Equity: share-based payment reserve.
  4. “Financial liabilities designated at fair value through profit or loss” is an issuer-specific line, not mapped to a shared definition: Note 17, non-current.
  5. “Promissory note” is an issuer-specific line, not mapped to a shared definition: Note 18, non-current.
  6. “Promissory note” is an issuer-specific line, not mapped to a shared definition: Note 18, current.
  7. “Loan payable” is an issuer-specific line, not mapped to a shared definition: Note 23, current.
  8. “Leave pay accrual” is an issuer-specific line, not mapped to a shared definition: Note 24, current.

Cash flow

Cash flow, ZAR units. Columns: FY to 28 Feb 2026 — annual report (signed / final), as reported for the year; FY to 28 Feb 2025 — annual report (signed / final), comparative reported in the annual report for 2026.
Line (as printed) FY to 28 Feb 2026Annual reportreported for the yearFY to 28 Feb 2025Annual reportcomparative in FY to 28 Feb 2026 filing
Net cash used in operating activities (26,010,992) (26,251,401)
Cash utilised by operating activities (25,496,834) (25,863,158)
Interest received 5,409 95,895
Finance charges1 (519,566) (484,138)
Taxation paid –2 –2
Cash flows from / (used in) investing activities (4,193,911) (39,880,202)
Purchase of property, plant and equipment (43,168) (95,662)
Purchase of intangible assets (44,125) (410,000)
Purchase of investments3 (62,101) (38,868,330)
Purchase of Bitcoin4 (5,503,000) –5
Sale of USDC6 1,458,483 –5
Advances to group loans7 –5 (506,210)
Cash flows from financing activities 30,730,816 61,238,810
Ordinary shares issued8 4,054,578 6,500,000
Capital portion of rental paid (464,426) (354,813)
Proceeds from financial liabilities9 62,102 42,281,578
Advances from interest bearing borrowings 1,500,000 2,136,583
Repayments to interest bearing borrowings (3,295,000) (1,836,774)
Advances to shareholder loan received10 591,980 –11
Repayment of shareholder loan12 (591,980) (2,224,845)
Advances from loans payable13 37,196,120 9,098,680
Repayments of loan payable14 (8,322,558) (1,073,760)
Proceeds from promissory note15 –11 6,785,327
Repayment of promissory note16 –11 (73,166)
Net increase/(decrease) in cash and cash equivalents 525,913 (4,892,793)
Cash and cash equivalents at beginning of the year (4,857,292) 35,501
Cash and cash equivalents at end of the year (4,331,379) (4,857,292)
  1. Printed “–”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
  2. Printed “–”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
  3. Printed “–”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (13)
  1. “Finance charges” is an issuer-specific line, not mapped to a shared definition: Operating activities: finance charges paid.
  2. “Purchase of investments” is an issuer-specific line, not mapped to a shared definition: Investing activities, note 8.
  3. “Purchase of Bitcoin” is an issuer-specific line, not mapped to a shared definition: Investing activities, note 6.
  4. “Sale of USDC” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  5. “Advances to group loans” is an issuer-specific line, not mapped to a shared definition: Investing activities, note 11.
  6. “Ordinary shares issued” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 15.
  7. “Proceeds from financial liabilities” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 17.
  8. “Advances to shareholder loan received” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 29.4.
  9. “Repayment of shareholder loan” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 29.4.
  10. “Advances from loans payable” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 29.4.
  11. “Repayments of loan payable” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 29.4.
  12. “Proceeds from promissory note” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 29.4.
  13. “Repayment of promissory note” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 29.4.

Per share and shares

Per share and shares. Columns: FY to 28 Feb 2026 — annual report (signed / final), as reported for the year; FY to 28 Feb 2025 — annual report (signed / final), comparative reported in the annual report for 2026.
Line (as printed) FY to 28 Feb 2026Annual reportreported for the yearFY to 28 Feb 2025Annual reportcomparative in FY to 28 Feb 2026 filing
Earnings / (loss) per share (per share)21 0.51 1.54
Notes and alternative reported figures (2)
  1. “Basic earnings per ordinary share (Rands)”: mapping to a shared definition is uncertain. Basic EPS; diluted EPS is printed apart (R0.50 for 2026) and recorded as an issuer-native concept.
  2. Earnings / (loss) per share: printed as “Basic earnings per ordinary share (Rands)”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

No dividend statement or amount collected.

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Africa Bitcoin Corporation Limited (formerly Altvest Capital Limited) Integrated Annual Report 2026 — Annual Consolidated Financial Statements for the year ended 28 February 2026

    Year ended 28 February 2026 · Annual report · signed / final

    Audit: Forvis Mazars (South Africa), unmodified opinion · signed

    Auditor's sign-off: Forvis Mazars; partner Dr Wiehann Olivier, Registered Auditor

    Final status: Independent auditor's report signed 'Forvis Mazars' (signature image) for Forvis Mazars, partner Dr Wiehann Olivier, registered auditor, dated 26 May 2026 (PDF p214, page image); the consolidated and separate financial statements were approved by the directors and signed on 26 May 2026 by the chief executive officer (Warren Wheatley) and the independent chairperson (Norma Sephuma) (PDF p199, page image).

    Document date
    26 May 2026
    Auditor's report
    26 May 2026
    Board approval
    26 May 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY to 28 Feb 2026, FY to 28 Feb 2025
    Basis
    consolidated statements · ZAR units (printed “R”)
    • The statement of cash flows prints each section total above its lines (p221); 'Net cash used in operating activities' (26 010 992) is 1 rand more negative than the sum of its printed lines ((25 496 834) + 5 409 + (519 566) + nil = (26 010 991)). Kept as printed.
    • Earnings per share is restated for the 3-for-1 subdivision of ordinary shares effected on 28 April 2026 (IAS 33.64), as if it had occurred at the beginning of the earliest period presented (p218): basic 0.51 (2025 restated: 1.54), diluted 0.50 (2025 restated: 1.54), in rand.
    • The issuer is incorporated in South Africa; the statements are in rand. The directory listing transcribed is the NSX secondary listing (BAN); the JSE listing is primary (p1, p3).
    Technical details
    File
    328 pages, with a text layer
    SHA-256
    b7e303f951b4999758d735bcbc0d3e985fbabd4567ad720d1f4dc95b58c70186
    Entity as printed
    Africa Bitcoin Corporation Limited and its subsidiaries (the group and company)
    Issuer copy
    retrieved 2026-10-08T18:51:15Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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