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Mega African Capital
On this page
Company details
- Legal name
- Mega African Capital Limited
- Listing
- MAC on the Ghana Stock Exchange, 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, final status not established · source
Read with these figures
- Annual report not confirmed as final. The published copy is not confirmed as the final version. The FY2025 figures come from it.
Full wording and sources
Annual report for 2025: final status not established
Controller (round-4 consolidation): not_established because the auditor's handwritten date is incomplete ('31/08/2'); the guide requires a visible signature and a date. Report of the independent auditors (scanned, PDF pp11-13) with an unmodified opinion on the company's financial statements on pages 13 to 39, closing with a handwritten signature above 'Signed by: Arnold Okai (ICAG/P/1077) For and on Behalf of: IAKO CONSULT (ICAG/F/2026/003) Chartered Accountants', a stamp 'Arnold Okai, Senior Partner, Iako Consult', and a handwritten date '31/08/2' whose year is cut short after its first digit (PDF p13, page image); the full date is therefore not recorded. The report of the directors states approval of the financial statements by the Board of Directors on '26st August 2026' (printed) with two handwritten names and signatures (Kwesi Amonoo-Neizer; Edward Ntim-Addae) (PDF p6, page image); the statement of financial position carries the two directors' signatures without a date (PDF p15, page image).
Source: Mega African Capital Limited Financial Statements for the year ended December 31 2025 (dated 2026-08-26)
-
Revenue
GHS 1.95 million
1,952,896 GHS units · p14
+510.1% vs 2024
-
Operating profit / (loss)
GHS 818,838
818,838 GHS units · p14
Moved from loss to profit (FY2024: (904,791) GHS units)
-
Profit / (loss) for the year
−GHS 29.0 million
(29,003,506) GHS units · p14
Change not shown.
-
Total assets
GHS 262 million
261,664,772 GHS units · p15
−22.9% vs 2024
-
Total equity
GHS 87.5 million
87,478,887 GHS units · p15
−22.5% vs 2024
-
Cash from operations
−GHS 25.6 million
(25,630,972) GHS units · p16
−261.6% vs 2024
Large amounts are rounded for reading (GHS 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 GHS 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, final status not established; reported for the year · source
- FY2024 — annual report, final status not established; comparative in the FY2025 filing · source
Income statement
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Investment & Operating Income1 | 1,952,896 | 320,080 |
| Total Revenue | 1,952,896 | 320,080 |
| Admin, legal & professional expenses2 | (707,399) | (681,296) |
| Staff Cost | (423,571) | (539,875) |
| Depreciation | (3,089) | (3,700) |
| Total Operating Expenses | (1,134,058) | (1,224,871) |
| Profit before finance cost & tax | 818,838 | (904,791) |
| Finance Costs | (29,822,343) | (32,830,213) |
| Net Profit/(Loss) before Taxation | (29,003,506) | (33,735,004) |
| Corporate Tax | –3 | (1,851) |
| Net Income attributable to shareholders | (29,003,506) | (33,736,855) |
| Changes in market value of investments4 | 3,577,675 | 49,638,948 |
| Total Comprehensive Income | (25,425,831) | 15,902,093 |
- Printed “-”, read as nil: subtotal_arithmetic: is.profit_for_year.
Notes and alternative reported figures (3)
- “Investment & Operating Income” is an issuer-specific line, not mapped to a shared definition: Note 3(a): dividend income and rental income; the only line within 'Total Revenue'.
- “Admin, legal & professional expenses”: mapping to a shared definition is uncertain. Printed 'Admin, legal & professional expenses' with note 6, which OCR does not return (page image p14).
- “Changes in market value of investments” is an issuer-specific line, not mapped to a shared definition: Note 3(b): realised and unrealised gains and losses on investments and other attributable income, printed under 'Other Comprehensive Income' (no OCI total printed).
Balance sheet
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Property, Plant & Equipment | –1 | 3,088 |
| Investment Properties | 24,558,963 | 34,547,058 |
| Equity Investment through OCI2 | 80,129,228 | 110,231,330 |
| Non-current assets (unlabelled subtotal) | 104,688,191 | 144,781,476 |
| Receivables | 764,489 | 805,931 |
| Financial Assets3 | 155,834,207 | 193,535,639 |
| Withholding Tax4 | 41,530 | 41,530 |
| Deferred Tax asset | 10,073 | 10,073 |
| Cash and Bank Balances | 326,282 | 60,395 |
| Current assets (unlabelled subtotal) | 156,976,581 | 194,453,568 |
| Total assets (unlabelled) | 261,664,772 | 339,235,044 |
| Accounts Payable & Accruals | 985,961 | 1,262,227 |
| Deposits5 | 173,199,924 | 225,094,694 |
| Current liabilities (unlabelled subtotal) | 174,185,885 | 226,356,921 |
| Stated Capital | 22,356,482 | 22,356,482 |
| Retained Earnings | (80,722,733) | (51,745,822) |
| Revaluation Reserve | 145,845,138 | 142,267,463 |
| SHAREHOLDERS FUNDS | 87,478,887 | 112,878,123 |
| TOTAL LIABILITIES AND SHAREHOLDERS FUNDS | 261,664,772 | 339,235,044 |
- Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_assets.
Notes and alternative reported figures (4)
- “Equity Investment through OCI”: mapping to a shared definition is uncertain. Printed 'Equity Investment through OCI'; note 9 is headed 'Financial assets designated at fair value through profit or loss'.
- “Financial Assets” is an issuer-specific line, not mapped to a shared definition: Note 9(b): other financial assets held for trading (commercial paper), current asset.
- “Withholding Tax” is an issuer-specific line, not mapped to a shared definition: Current asset: withholding tax recoverable (no note reference printed).
- “Deposits” is an issuer-specific line, not mapped to a shared definition: Note 13: tenured deposits, client deposits and interest payable; current liability.
Cash flow
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Profit from operations1 | (25,425,831) | 15,903,944 |
| Prior Year2 | 26,594 | 400,452 |
| Depreciation of property, plant and equipment3 | 3,089 | 3,700 |
| Decrease / (Increase) in Receivables4 | 30,687 | (130,119) |
| Deferred Tax5 | –6 | 2,668 |
| (Decrease) / Increase in Payables & Accruals7 | (265,511) | 480,671 |
| Cash generated from operations | (25,630,972) | 15,857,744 |
| Net cash generated from operating activities | (25,630,972) | 15,857,744 |
| Financial Assets8 | 37,701,432 | (44,906,305) |
| Equity Investments9 | 30,102,102 | (17,337,088) |
| Investment Properties10 | 9,988,095 | (6,627,395) |
| Purchase of Property and Equipment | –11 | –11 |
| Net cash from investing activities | 77,791,629 | (68,870,788) |
| Increase in Stated Capital12 | –13 | –13 |
| Deposits14 | (51,894,770) | 53,038,931 |
| Net cash used in financing activities | (51,894,770) | 53,038,931 |
| Net increase (decrease) in cash and cash equivalent | 265,887 | 25,888 |
| Cash and cash equivalents at beginning of year | 60,395 | 34,507 |
| Cash and cash equivalents at end of year | 326,282 | 60,395 |
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_generated_from_operations.
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (11)
- “Profit from operations” is an issuer-specific line, not mapped to a shared definition: Starting line of the operating cash flows; the 2025 amount equals total comprehensive income (p14).
- “Prior Year” is an issuer-specific line, not mapped to a shared definition: Adjustment: prior year adjustment (statement of changes in equity).
- “Depreciation of property, plant and equipment” is an issuer-specific line, not mapped to a shared definition: Adjustment.
- “Decrease / (Increase) in Receivables” is an issuer-specific line, not mapped to a shared definition: Operating: change in receivables.
- “Deferred Tax” is an issuer-specific line, not mapped to a shared definition: Operating adjustment.
- “(Decrease) / Increase in Payables & Accruals” is an issuer-specific line, not mapped to a shared definition: Operating: change in payables and accruals.
- “Financial Assets” is an issuer-specific line, not mapped to a shared definition: Investing: net movement in financial assets.
- “Equity Investments” is an issuer-specific line, not mapped to a shared definition: Investing: net movement in equity investments.
- “Investment Properties” is an issuer-specific line, not mapped to a shared definition: Investing: net movement in investment properties.
- “Increase in Stated Capital” is an issuer-specific line, not mapped to a shared definition: Financing.
- “Deposits” is an issuer-specific line, not mapped to a shared definition: Financing: net movement in deposits.
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.
-
Mega African Capital Limited Financial Statements for the year ended December 31 2025
Year ended 31 December 2025 · Annual report · final status not established
Audit: IAKO Consult, Chartered Accountants, Accra, unmodified opinion · signed
Auditor's sign-off: IAKO Consult (ICAG/F/2026/003); signed by Arnold Okai (ICAG/P/1077)
Final status: Controller (round-4 consolidation): not_established because the auditor's handwritten date is incomplete ('31/08/2'); the guide requires a visible signature and a date. Report of the independent auditors (scanned, PDF pp11-13) with an unmodified opinion on the company's financial statements on pages 13 to 39, closing with a handwritten signature above 'Signed by: Arnold Okai (ICAG/P/1077) For and on Behalf of: IAKO CONSULT (ICAG/F/2026/003) Chartered Accountants', a stamp 'Arnold Okai, Senior Partner, Iako Consult', and a handwritten date '31/08/2' whose year is cut short after its first digit (PDF p13, page image); the full date is therefore not recorded. The report of the directors states approval of the financial statements by the Board of Directors on '26st August 2026' (printed) with two handwritten names and signatures (Kwesi Amonoo-Neizer; Edward Ntim-Addae) (PDF p6, page image); the statement of financial position carries the two directors' signatures without a date (PDF p15, page image).
- Document date
- 26 Aug 2026
- Auditor's report
- date handwritten but not legible enough to record (see notes)
- Board approval
- 26 Aug 2026
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2025, FY2024
- Basis
- company statements · GHS units (printed “GH¢”)
- 2025 net loss before taxation (29,003,506) is one cedi off profit before finance cost and tax 818,838 less finance costs 29,822,343 (p14); 2024 net increase in cash 25,888 is one cedi off the sum of the three sections (p16); 2025 total operating expenses (1,134,058) are one cedi off the three expense lines ((1,134,059)) (p14). Kept as printed.
- Statement of cash flows, 2024 column (p16, page image): profit from operations 15,903,944 plus the printed adjustments (400,452; 3,700; (130,119); 2,668; 480,671) is 16,661,316, but 'Cash generated from operations' is printed as 15,857,744 (a difference of 803,572). Kept as printed.
- The statement of cash flows starts from 'Profit from operations', printed as (25,425,831) for 2025 (equal to total comprehensive income, p14) and 15,903,944 for 2024 (total comprehensive income is 15,902,093 and the loss after tax (33,736,855)). Kept as printed.
- 'Changes in market value of investments' (note 3(b): realised and unrealised gains and losses and other income) is printed under 'Other Comprehensive Income' without an OCI total (p14).
- The PDF is a scan with an embedded OCR text layer of poor quality; the statements are read from a fresh Apple Vision OCR of the renders. On the statement of cash flows (p16) OCR shifts the amounts of the adjustment and investing rows and of the Deposits row up by one line; those rows are read after the preceding OCR text and compared with the page image.
- The statement of cash flows page header reads 'For the year ended 31 December 2024' while its columns are headed 2025 and 2024 and its closing cash agrees with the 2025 statement of financial position (p16).
- The statement of financial position prints only current liabilities (accounts payable and deposits) and closes with 'TOTAL LIABILITIES AND SHAREHOLDERS FUNDS'; the asset total and the section subtotals are unlabelled. The deferred tax asset is printed among current assets (p15).
Technical details
- File
- 39 pages, with a text layer
- SHA-256
5c552118e51788925edecf67b5fff10622d8374700135f540fab5232a5169e75- Entity as printed
- Mega African Capital Limited (the Company)
- Exchange copy
- retrieved 2026-10-08T17:52:49Z
Data notes
- Depreciation — OCR read '(3.089)'; the page image shows '(3,089)'. OCR read a full stop for a thousands comma; the render prints (3,089) (page image p14). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p14)
- Total Operating Expenses — OCR read '(1.134.058)'; the page image shows '(1,134,058)'. OCR read a full stop for a thousands comma; the render prints (1,134,058) (page image p14). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p14)
- Finance Costs — OCR read '(32,830.213)'; the page image shows '(32,830,213)'. OCR read a full stop for a thousands comma; the render prints (32,830,213) (page image p14). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p14)
- Changes in market value of investments — OCR read '3.577.675'; the page image shows '3,577,675'. OCR read a full stop for a thousands comma; the render prints 3,577,675 (page image p14). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p14)
- Changes in market value of investments — OCR read '49.638,948'; the page image shows '49,638,948'. OCR read a full stop for a thousands comma; the render prints 49,638,948 (page image p14). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p14)
- Total Comprehensive Income — OCR read '(25.425.831)'; the page image shows '(25,425,831)'. OCR read a full stop for a thousands comma; the render prints (25,425,831) (page image p14). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p14)
- Total Comprehensive Income — OCR read '15.902.093'; the page image shows '15,902,093'. OCR read a full stop for a thousands comma; the render prints 15,902,093 (page image p14). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p14)
- Investment Properties — OCR read '34,547.058'; the page image shows '34,547,058'. OCR read a full stop for a thousands comma; the render prints 34,547,058 (page image p15). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p15)
- Current assets (unlabelled subtotal) — OCR read '156,976.581'; the page image shows '156,976,581'. OCR read a full stop for a thousands comma; the render prints 156,976,581 (page image p15). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p15)
- Total assets (unlabelled) — OCR read '339,235.044'; the page image shows '339,235,044'. OCR read a full stop for a thousands comma; the render prints 339,235,044 (page image p15). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p15)
- Accounts Payable & Accruals — OCR read '1.262,227'; the page image shows '1,262,227'. OCR read a full stop for a thousands comma; the render prints 1,262,227 (page image p15). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p15)
- Deposits — OCR read '173.199.924'; the page image shows '173,199,924'. OCR read a full stop for a thousands comma; the render prints 173,199,924 (page image p15). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p15)
- Deposits — OCR read '225.094.694'; the page image shows '225,094,694'. OCR read a full stop for a thousands comma; the render prints 225,094,694 (page image p15). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p15)
- Current liabilities (unlabelled subtotal) — OCR read '226,356.921'; the page image shows '226,356,921'. OCR read a full stop for a thousands comma; the render prints 226,356,921 (page image p15). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p15)
- Retained Earnings — OCR read '(51.745.822)'; the page image shows '(51,745,822)'. OCR read a full stop for a thousands comma; the render prints (51,745,822) (page image p15). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p15)
- Revaluation Reserve — OCR read '142.267.463'; the page image shows '142,267,463'. OCR read a full stop for a thousands comma; the render prints 142,267,463 (page image p15). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p15)
- SHAREHOLDERS FUNDS — OCR read '87,478.887'; the page image shows '87,478,887'. OCR read a full stop for a thousands comma; the render prints 87,478,887 (page image p15). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p15)
- SHAREHOLDERS FUNDS — OCR read '112.878.123'; the page image shows '112,878,123'. OCR read a full stop for a thousands comma; the render prints 112,878,123 (page image p15). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p15)
- TOTAL LIABILITIES AND SHAREHOLDERS FUNDS — OCR read '339.235.044'; the page image shows '339,235,044'. OCR read a full stop for a thousands comma; the render prints 339,235,044 (page image p15). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p15)
- Profit from operations — OCR read '15,903.944'; the page image shows '15,903,944'. OCR read a full stop for a thousands comma; the render prints 15,903,944 (page image p16). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p16)
- (Decrease) / Increase in Payables & Accruals — OCR read '(265,511 1'; the page image shows '(265,511)'. OCR read the closing bracket as a '1' ('(265,5111', which the importer's normalisation splits as '(265,511 1'); the render prints (265,511) (page image p16). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p16)
- Equity Investments — OCR read '30,102.102'; the page image shows '30,102,102'. OCR read a full stop for a thousands comma; the render prints 30,102,102 (page image p16). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p16)
- Investment Properties — OCR read '9.988.095'; the page image shows '9,988,095'. OCR read a full stop for a thousands comma; the render prints 9,988,095 (page image p16). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p16)
- Investment Properties — OCR read '(6.627,395)'; the page image shows '(6,627,395)'. OCR read a full stop for a thousands comma; the render prints (6,627,395) (page image p16). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p16)
- Net cash from investing activities — OCR read '77.791.629'; the page image shows '77,791,629'. OCR read a full stop for a thousands comma; the render prints 77,791,629 (page image p16). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p16)
- Deposits — OCR read '53.038.931'; the page image shows '53,038,931'. OCR read a full stop for a thousands comma; the render prints 53,038,931 (page image p16). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p16)
- Cash and cash equivalents at end of year — OCR read '326.282'; the page image shows '326,282'. OCR read a full stop for a thousands comma; the render prints 326,282 (page image p16). (Mega African Capital Limited Financial Statements for the year ended December 31 2025, p16)
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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