v3.25.4
Property and Equipment
 12 Months Ended
Dec. 31, 2025
Disclosure of detailed information about property, plant and equipment [abstract]  
Property and Equipment
7 Property and Equipment
Movements in the carrying amount of property and equipment were as follows:
In thousands of USDBuildingsTechnical
equipment and
machinery		Transportation
equipment,
office
equipment
and other
equipment		Right of use
assets - Office
and Warehouse		Total
Cost
Balance as of January 1, 20242,483 5,263 18,524 20,593 46,863 
Additions
1,081 1,360 1,293 11,274 15,008 
Lease modifications— — — (6,765)(6,765)
Disposals(1,360)(1,846)(5,254)— (8,460)
Effect of hyperinflationary economies (2)56 66 60 180 
Effect of translation(193)(599)(2,896)(2,116)(5,804)
Balance as of December 31, 20242,009 4,234 11,733 23,046 41,022 
Additions
1,024 2,081 1,363 2,076 6,544 
Lease modifications— — — (6,306)(6,306)
Disposals(63)(76)(354)— (493)
Effect of hyperinflationary economies 3 21 46 59 129 
Effect of translation280 616 1,364 2,155 4,415 
Balance as of December 31, 20253,253 6,876 14,152 21,030 45,311 
Accumulated depreciation
Balance as of January 1, 2024(1,849)(3,196)(13,118)(14,339)(32,502)
Depreciation charge(260)(854)(2,158)(4,887)(8,159)
Impairments(17)— (14)(59)(90)
Accumulated depreciation on disposals1,105 1,449 4,720 — 7,274 
Lease modifications— — 9 6,226 6,235 
Effect of translation120 269 1,948 1,079 3,416 
Balance as of December 31, 2024(901)(2,332)(8,613)(11,980)(23,826)
Depreciation charge(410)(872)(1,610)(5,028)(7,920)
Impairments18 — 15 62 95 
Accumulated depreciation on disposals37 71 252 — 360 
Lease modifications— — — 7,556 7,556 
Effect of hyperinflationary economies (1)(10)(36)— (47)
Effect of translation(108)(291)(1,002)(965)(2,366)
Balance as of December 31, 2025(1,365)(3,434)(10,994)(10,355)(26,148)
Carrying amount as of December 31, 20241,108 1,902 3,120 11,066 17,196 
Carrying amount as of December 31, 20251,888 3,442 3,158 10,675 19,163 
Set out below, are the carrying amounts of the Group’s right-of-use assets and lease liabilities and the movements during the period:
In thousands of USDRight of use assetsLease Liabilities
As of January 1, 20246,254 6,075 
Additions11,274 10,158 
Depreciation(4,887)— 
Impairment(59)— 
Interest expense— 1,532 
Lease modifications(539)(628)
Effect of hyperinflationary economies60 — 
Payments (Note 19)— (5,123)
Effect of translation(1,037)(816)
As of January 1, 202511,066 11,198 
Additions2,076 2,062 
Depreciation(5,028)— 
Impairment62 — 
Interest expense— 2,781 
Lease modifications1,250 1,210 
Effect of hyperinflationary economies 59 — 
Payments (Note 19)— (6,324)
Effect of translation1,190 795 
As of December 31, 202510,675 11,722 
During 2025, the Group’s main additions to Right of use assets include lease contracts for new warehouse facilities in Algeria, Kenya and Senegal, while Lease modifications mainly reflect the office lease renewal in Egypt.
During 2024, the Group’s main additions to Right of use assets include lease contracts for new warehouse facilities in Nigeria, Egypt and Ghana. Lease modifications are mainly driven by the early termination of warehouse contracts in Egypt, Tunisia, Ivory Coast and Nigeria, and due to delays in the constructions in the main warehouse in Ivory Coast. These effects are partially offset by the renewal of the main warehouse in Uganda.
The Group recognized rent expense from short-term leases of USD 918 thousand in the year ended December 31, 2025 (2024: USD 1,265 thousand and 2023: USD 2,035 thousand).
The following are the amounts recognized in profit or loss:
In thousands of USD202320242025
Depreciation expense of right-of-use assets(5,204)(4,887)(5,028)
Interest expense on lease liabilities(1,074)(1,532)(2,781)
Expense relating to short-term leases (2,035)(1,265)(918)
Total amount recognized in profit or loss(8,313)(7,684)(8,727)
The Group had total cash outflows for leases of USD 6,324 thousand in 2025 (2024: USD 5,123 thousand and 2023: USD 6,279 thousand). The Group also had non-cash additions to right-of-use assets and lease liabilities of USD 2,076 thousand and USD 2,062 thousand in 2025, respectively (2024: USD 11,274 thousand and USD 10,158 thousand, respectively and 2023: USD 1,030 thousand and USD 1,057 thousand, respectively).