Disclosures & Risk Warning

Regulatory status

Africa Markets is a private markets platform in development. It is not yet licensed as a financial services provider, exchange, or over-the-counter trading facility in South Africa or any other jurisdiction. The information on this website is provided in anticipation of the platform's launch. Before any trading functionality becomes available, Africa Markets will obtain the authorisations required by the Financial Sector Conduct Authority (FSCA) and other relevant regulators, and will publish the licence details on this page.

Early access pre-registration does not open an account or create any client relationship.

No advice, no offer

Nothing on this website constitutes:

• financial, investment, legal, accounting or tax advice, or "advice" or an "intermediary service" under the Financial Advisory and Intermediary Services Act, 2002 (FAIS);
• an offer to the public of securities as contemplated in the Companies Act, 2008;
• an offer, solicitation or recommendation to buy, sell or hold any security, or to participate in any transaction;
• a collective investment scheme under the Collective Investment Schemes Control Act, 2002.

Investors must rely on their own examination of any issuer and the terms of any offering, including the merits and risks involved, and should consult their own advisers.

Key risks of investing in private companies

• Loss of capital. Private-company shares are speculative. You may lose your entire investment.
• Illiquidity. Securities of private companies are not publicly traded. There may be no market, or only a limited market, in which to sell them, and secondary trades depend on a willing counterparty and the issuer's transfer rules.
• Valuation uncertainty. Prices, valuations and market-data figures shown are indicative, may be derived from the last funding round or third-party estimates, and may not reflect the value at which a transaction could be executed.
• Limited disclosure. Private companies are not subject to the continuous-disclosure requirements of listed companies; information may be incomplete, unaudited or out of date.
• Dilution and structure. Later financing rounds, preference rights and conversion terms can reduce the value of an earlier investment.
• Currency and country risk. Investments across African jurisdictions carry exchange-control, currency, political and legal-enforcement risk.
• Past performance is not an indication of future results.

Illustrative content

Company information on the home page (Africa's unicorns, their sectors and valuations) is drawn from public reporting — principally Afridigest's list of African unicorns — and reflects the last publicly reported funding round, which may not represent current value. These companies are shown as market context; they are not listed or traded on Africa Markets, and nothing on this site implies any relationship with them. The sample portfolio dashboard and the macro-economic statistics are illustrative and do not represent transactions executed on Africa Markets.

Third-party data and links

Market intelligence, news and company information may be sourced from third parties (for example StreetZero). We do not verify third-party content and accept no responsibility for its accuracy.

Conflicts of interest

Africa Markets is operated in partnership with Capital Engine®, which provides the underlying technology and may earn fees from platform activity. When the platform launches, our conflicts-of-interest policy and fee schedule will be published here.

Complaints

If you have a complaint about this website or our early-access programme, email [email protected]. Once licensed, we will publish our FAIS-compliant complaints procedure and the details of the relevant ombud.