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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to OCR text of the page image; matched to OCR text and compared cell by cell with the page image; read from the page image) (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 Eats

No ticker printed · Stock Exchange of Mauritius · Company statements

On this page
Company details
Legal name
Africa Eats Ltd
Listing
No ticker printed on the Stock Exchange of Mauritius, active (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · annual report, signed / final · source

  • Revenue

    Not reported in this filing

  • Operating profit / (loss)

    USD 3.81 million

    3,808,831 USD units · p76

    −45.8% vs 2024

  • Profit / (loss) for the year

    USD 3.82 million

    3,822,312 USD units · p76

    −45.5% vs 2024

  • Total assets

    USD 33.8 million

    33,762,646 USD units · p77

    +19.5% vs 2024

  • Total equity

    USD 33.4 million

    33,370,183 USD units · p77

    +21.4% vs 2024

  • Cash from operations

    −USD 842,696

    (842,696) USD units · p79

    Change not shown.

Large amounts are rounded for reading (USD 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 USD 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

  • FY2025 — annual report, signed / final; reported for the year · source
  • FY2024 — annual report, signed / final; comparative in the FY2025 filing · source

Income statement

Income statement, USD units. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Fair value gain on financial assets at fair value through profit or loss 5,136,636 8,357,304
Other income 2,100 –1
Total income2 5,138,736 8,357,304
Equity grants3 (540,600) (109,785)
Staff costs (307,320) (292,730)
Marketing costs4 (197,282) (349,364)
Legal charges5 (112,806) (171,997)
Operation costs6 (90,223) (63,040)
Receivables written off7 (64,695) (275,927)
Travelling expenses8 (7,965) (53,640)
Bank charges9 (6,581) (11,461)
Withholding tax on interest received10 (2,433) (1,139)
Other expenses –11 (1,677)
Total expenses12 (1,329,905) (1,330,760)
Operating profit 3,808,831 7,026,544
Finance income 62,946 94,495
Finance costs (49,465) (105,721)
Profit before taxes 3,822,312 7,015,318
Taxes –13 –13
Profit for the year 3,822,312 7,015,318
Other comprehensive income for the year –14 –14
Total comprehensive income for the year 3,822,312 7,015,318
  1. Printed “-”, read as nil: subtotal_arithmetic: is.native.co_gkcx2mdw6qss.total_income.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.native.co_gkcx2mdw6qss.total_expenses.
  3. Printed “-”, read as nil: subtotal_arithmetic: is.profit_for_year.
  4. Printed “-”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
Notes and alternative reported figures (10)
  1. “Total income” is an issuer-specific line, not mapped to a shared definition: Total of the income section (fair value gain and other income).
  2. “Equity grants” is an issuer-specific line, not mapped to a shared definition: Note 10: equity grants expense.
  3. “Marketing costs” is an issuer-specific line, not mapped to a shared definition: Expenses section.
  4. “Legal charges” is an issuer-specific line, not mapped to a shared definition: Expenses section.
  5. “Operation costs” is an issuer-specific line, not mapped to a shared definition: Expenses section.
  6. “Receivables written off” is an issuer-specific line, not mapped to a shared definition: Expenses section.
  7. “Travelling expenses” is an issuer-specific line, not mapped to a shared definition: Expenses section.
  8. “Bank charges” is an issuer-specific line, not mapped to a shared definition: Expenses section.
  9. “Withholding tax on interest received” is an issuer-specific line, not mapped to a shared definition: Expenses section.
  10. “Total expenses” is an issuer-specific line, not mapped to a shared definition: Total of the expenses section, deducted from total income.

Balance sheet

Balance sheet, USD units. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Financial assets at fair value through profit or loss 32,300,132 26,988,496
Lease receivable1 –2 52,504
Total non-current assets 32,300,132 27,041,000
Loan receivables at amortized cost3 186,962 440,232
Loan at fair value through profit or loss4 322,447 318,303
Other receivables and prepayments5 76,022 8,558
Cash at bank 877,083 440,318
Total current assets 1,462,514 1,207,411
TOTAL ASSETS 33,762,646 28,248,411
Stated capital 14,923,997 12,575,240
Share application monies6 3,598 303,598
Retained earnings 18,442,588 14,620,276
TOTAL EQUITY 33,370,183 27,499,114
Promissory notes7 69,750 169,750
Promissory notes7 279,314 483,426
Other payables8 43,399 96,121
Total current liabilities 322,713 579,547
TOTAL LIABILITIES 392,463 749,297
TOTAL EQUITY AND LIABILITIES 33,762,646 28,248,411
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_assets.
Notes and alternative reported figures (7)
  1. “Lease receivable” is an issuer-specific line, not mapped to a shared definition: Note 6: non-current.
  2. “Loan receivables at amortized cost” is an issuer-specific line, not mapped to a shared definition: Note 7(i): current.
  3. “Loan at fair value through profit or loss” is an issuer-specific line, not mapped to a shared definition: Note 7(ii): current.
  4. “Other receivables and prepayments”: mapping to a shared definition is uncertain. Printed 'Other receivables and prepayments' (note 8).
  5. “Share application monies” is an issuer-specific line, not mapped to a shared definition: Note 10: equity.
  6. “Promissory notes” is an issuer-specific line, not mapped to a shared definition: Note 11.
  7. “Other payables”: mapping to a shared definition is uncertain. Printed 'Other payables' (note 12).

Cash flow

Cash flow, USD units. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Profit before tax1 3,822,312 7,015,318
Fair value gain on financial assets at fair value through profit or loss2 (5,136,636) (8,357,304)
Other receivables written off3 64,695 275,927
Finance income4 (62,946) (94,495)
Finance costs5 49,465 105,721
Non cash withholding tax payment6 –7 1,139
Non cash equity grant expense8 540,600 109,785
Change in prepayments and other receivables9 (67,464) (8,558)
Change in other payables10 (52,722) 62,493
Net cash used in operating activities (842,696) (889,974)
Acquisition of financial assets at fair value through profit or loss11 (175,000) (1,828,948)
Loans granted12 (270,000) (215,575)
Loans and leases refunded13 514,640 383,908
Interest received from loans and leases14 55,242 98,712
Net cash used in investing activities 124,882 (1,561,903)
Promissory notes issued15 20,000 200,000
Promissory notes repaid16 (327,688) (617,692)
Interest paid17 (25,890) (50,966)
Proceeds from issue of shares18 1,808,157 2,972,939
Share application monies (converted)/ received19 (300,000) 303,598
Long term liabilities20 (20,000) –21
Net cash generated from financing activities 1,154,579 2,807,879
Net movement in cash and cash equivalents 436,765 356,002
Cash and cash equivalents at start of the year 440,318 84,316
Cash and cash equivalents at end of the year 877,083 440,318
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (19)
  1. “Profit before tax” is an issuer-specific line, not mapped to a shared definition: Opening line of the operating section.
  2. “Fair value gain on financial assets at fair value through profit or loss” is an issuer-specific line, not mapped to a shared definition: Adjustment for a non-cash item, note 5.
  3. “Other receivables written off” is an issuer-specific line, not mapped to a shared definition: Adjustment for a non-cash item.
  4. “Finance income” is an issuer-specific line, not mapped to a shared definition: Adjustment, note 4(i).
  5. “Finance costs” is an issuer-specific line, not mapped to a shared definition: Adjustment, note 4(ii).
  6. “Non cash withholding tax payment” is an issuer-specific line, not mapped to a shared definition: Adjustment for a non-cash item.
  7. “Non cash equity grant expense” is an issuer-specific line, not mapped to a shared definition: Adjustment, note 10.
  8. “Change in prepayments and other receivables” is an issuer-specific line, not mapped to a shared definition: Changes in working capital, note 8.
  9. “Change in other payables” is an issuer-specific line, not mapped to a shared definition: Changes in working capital, note 12.
  10. “Acquisition of financial assets at fair value through profit or loss” is an issuer-specific line, not mapped to a shared definition: Investing activities, note 5.
  11. “Loans granted” is an issuer-specific line, not mapped to a shared definition: Investing activities, notes 7 and 14(i).
  12. “Loans and leases refunded” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  13. “Interest received from loans and leases” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  14. “Promissory notes issued” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 11.
  15. “Promissory notes repaid” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 11.
  16. “Interest paid” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 11 (interest on promissory notes).
  17. “Proceeds from issue of shares” is an issuer-specific line, not mapped to a shared definition: Financing activities.
  18. “Share application monies (converted)/ received” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 18.
  19. “Long term liabilities” is an issuer-specific line, not mapped to a shared definition: Financing activities.

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 Eats 2025 Annual Report; Africa Eats Ltd Financial Statements For The Year Ended 31 December 2025

    Year ended 31 December 2025 · Annual report · signed / final

    Audit: Baker Tilly (Mauritius), unmodified opinion · signed

    Auditor's sign-off: Baker Tilly; Sin C. LI, CPA, CGMA, Licensed by FRC

    Final status: Independent auditor's report to the Shareholders of Africa Eats Ltd (PDF pp71-75): handwritten 'Baker Tilly' signature with 'Date: 30th March 2026' and a handwritten signature over 'Sin C. LI, CPA, CGMA, Licensed by FRC' (PDF p75, page image). The statement of financial position states approval by the Board and authorisation for issue on 30 March 2026, signed on its behalf by Mr Michael Libes and Ms. Veerha Bhogun through DocuSign 'Signed by:' boxes with handwritten-style signatures (PDF p77, page image).

    Document date
    30 Mar 2026
    Auditor's report
    30 Mar 2026
    Board approval
    30 Mar 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    company statements · USD units (printed “USD”)
    • Expenses are printed as positive amounts and 'Total expenses' (1,329,905; 2024: 1,330,760) is deducted from 'Total income' (5,138,736; 2024: 8,357,304) to give operating profit (3,808,831; 2024: 7,026,544) (p76); stored as deductions.
    • The investing total is labelled 'Net cash used in investing activities' while printing an inflow of 124,882 in 2025 (2024: (1,561,903)) (p79). Kept as printed; the printed lines add up.
    • The document is the issuer's 2025 Annual Report: a narrative section (PDF pp1-47) followed by the full audited financial statements (PDF pp48-110). Shares are listed on the SEM as 'AFRICA EATS(USD)'.
    Technical details
    File
    110 pages, with a text layer
    SHA-256
    70bed9e5ab5231db5e91db16b8d5cb34fce932489c4e9680f3c28f7f7faa510a
    Entity as printed
    Africa Eats Ltd (the 'Company')
    Issuer copy
    retrieved 2026-10-08T19:14:15Z

Data notes

  • Total current assets — OCR read '1,207.411'; the page image shows '1,207,411'. OCR read a full stop for the thousands comma; the render shows 1,207,411. (Africa Eats 2025 Annual Report; Africa Eats Ltd Financial Statements For The Year Ended 31 December 2025, p77)

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to OCR text of the page image; matched to OCR text and compared cell by cell with the page image; read from the page image) (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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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

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