v3.25.4
Income tax (Tables)
 12 Months Ended
Dec. 31, 2025
Major components of tax expense (income) [abstract]  
Schedule of income tax payables and receivables
Income tax payables and receivables are comprised of the following:
As of December 31,
In thousands of USD20242025
Income Tax Prepayments3,041 3,153 
Total Income tax receivables3,041 3,153 
Income Tax Payables869 658 
Provision for Income Tax12,641 11,798 
Total Income tax payables13,510 12,456 
Schedule of reconciliation of tax expense and the effective tax rate
The reconciliation of tax expense and the effective tax rate was as follows:
For the year ended December 31,
In thousands of USD202320242025
Loss before Income tax from continuing operations(98,600)(97,559)(60,126)
Loss before Income tax from discontinued operations(4,917)— — 
Loss before income tax(103,517)(97,559)(60,126)
Statutory tax rate(1)
27.98 %27.27 %24.95 %
Expected income tax benefit28,963 26,603 15,001 
Tax effects of:
Sundry permanent differences(2,547)(4,891)20,031 
Effect of functional to local reporting currency in Germany(3,040)(4,976)3,465 
Equity Transaction costs8 1,386 28 
Share based payments(1,506)(1,670)(1,011)
Tax Expenses19 1,321 552 
Bad debt expense(1,841)(2,784)(3,058)
Management fees(4,268)(9,289)(10,543)
Interest expense(567)(385)(408)
Unrecognized deferred tax asset arising from timing differences relating to:
FX unrealized gain/loss(1,407)1,851 1,310 
Share based payments85 (38)(29)
Tax Expenses3,328 322 576 
Sundry temporary differences1,079 (766)655 
Minimum tax(665)(554)(706)
Deferred tax not recognized (mainly tax losses carried forward)(20,885)(8,281)(28,580)
Deferred tax: relating to origination and reversal of temporary differences and tax losses2,583 606 1,303 
Income tax expense(661)(1,546)(1,414)
Effective tax rate0.64 %1.58 %2.35 %
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(1)The Statutory tax rate consists of an average tax rate weighted in proportion to accounting profit/(loss) in each geographical territory.
Schedule of components of income tax expense
Income tax expense is comprised of the following:
For the year ended December 31,
In thousands of USD202320242025
Current tax (expense) / income(3,244)(2,152)(2,716)
Deferred tax (expense) / income2,583 606 1,302 
Total Income tax (expense) / income(661)(1,546)(1,414)
Schedule of tax losses available for offsetting against future taxable profits
Tax losses available for offsetting against future taxable profits were as follows:
As of December 31,
202320242025
In thousands of USD
Country
DurationRateAccumulated tax
loss [gross]		Accumulated tax
loss [gross]		Accumulated tax
loss [gross]
Germany **Indefinite30.2 %*(36,125)(43,942)(52,191)
Morocco4 years20.0 %(29,780)(23,636)(6,140)
Egypt5 years22.5 %(62,390)(32,426)(125,638)
NigeriaIndefinite30.0 %(137,013)(17,837)(39,818)
Kenya5 Years30.0 %(74,817)(105,886)(96,042)
Ivory Coast5 years25.0 %(30,144)(9,233)(11)
Ghana5 years25.0 %(6,316)(4,255)(2,899)
OtherN/AN/A (127,695)(147,429)(89,998)
Total(504,280)(384,644)(412,737)
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*
In Germany, the calculation of current tax is based on a combined tax rate of 30.2%, consisting of a corporate income tax rate of 15.8% and a trade tax rate of 14.4%.
**
Accumulated tax losses related to Trade Tax amount to USD 94,496 thousand as of December 31, 2025 (USD 71,057 thousand as of December 31, 2024 and USD 64,942 thousand as of December 31, 2023), not included in the table above.