Trident Digital Tech’s 50/50 Trident Aliska Digital Tech Ghana joint venture is projecting nearly 285,000 actively transacting small businesses on Sikaflow by December 2026 and a December revenue level equivalent to approximately $65.5 million on an annualized basis, only six months after the platform began commercial operations. However, the figure is an internal joint-venture projection and explicitly does not represent Trident’s consolidated revenue guidance.
Sikaflow commenced commercial operations on June 23. TADT projects December revenue of approximately GHS 64.1 million, which translates to a GHS 769 million annualized run-rate, or approximately $65.5 million using the cited Bank of Ghana exchange rate. Trident owns 50% of TADT.
The adoption assumptions call for a rapid ramp. TADT projects 27,476 active MSMEs in August, 53,708 in September, 140,860 in October, 220,300 in November and 284,883 in December. The joint venture says its addressable base exceeds two million micro, small and medium-sized enterprises.
Projected cumulative revenue for the August-through-December period is approximately GHS 163.6 million, or $13.9 million, substantially below the $65.5 million annualized figure because the latter is derived from the projected December run-rate rather than revenue expected to be generated during 2026.
The distinction is particularly important when evaluating the headline number. The $65.5 million annualized run-rate is calculated by multiplying one projected month of revenue by 12. It is not a projection of revenue for an actual 12-month period, is not a 2027 revenue forecast and is not projected consolidated Trident revenue.
The projection was prepared by TADT management for internal planning purposes at the joint-venture level and has not been audited, reviewed or otherwise subjected to assurance procedures by an independent accounting firm. Sikaflow also has only a limited operating history because commercial operations began in June.
TADT expects revenue to come from four primary sources: commissions on taxes collected and remitted through the platform, point-of-sale device leasing, transaction-processing fees and adjacent services such as business registrations, annual renewals, insurance distribution and pension administration.
The internal model assumes an average monthly transaction volume of approximately GHS 15,000 per active MSME, equivalent to roughly GHS 500 per day, along with an effective tax collection rate of 3%. It also assumes monthly contributions per active business of GHS 50 from POS leasing, GHS 5 from processing fees and GHS 20 from adjacent services.
Sikaflow combines digital commerce, accounting, inventory management, automated tax reporting, business analytics and financial-services tools. The platform is accessible through Android, iOS, web, POS terminals and USSD channels and is intended in part to create transaction records for businesses that historically lacked formal financial documentation.
The projected scale therefore represents a potentially significant commercialization milestone for the joint venture, but realization of the figures depends on aggressive assumptions around onboarding, transaction activity, fees, device deployment, regulatory conditions and other variables.
KEY QUOTES:
“A run-rate approaching US$65 million within six months of launch reflects what we believe this platform architecture can do once it reaches scale. We built Sikaflow to sit at the intersection of commerce, tax administration and financial services, and every transaction that moves through it strengthens the economic record of the business behind it. This is the model we intend to replicate.”
Soon Huat Lim, Founder, Chairman and Chief Executive Officer of Trident Digital Tech Holdings
“We are onboarding businesses that have operated outside the formal financial system for their entire existence, and we are doing it with local ownership and local partnerships. The economics of this platform work because Sikaflow solves a problem our entrepreneurs actually have — recordkeeping, tax compliance and access to finance in one place. The projection reflects the demand we are seeing in the market.”
Aleem Kumi, Chief Executive Officer of Trident Aliska Digital Tech Ghana
