Author: Loni Prinsloo

African online retailer Jumia is planning an initial public offering in New York this year that could value the business at about $1.5-billion, according to people familiar with the matter.

Naspers and Dimension Data are in talks to sell their joint venture in the country to fibre-optic infrastructure company Link Africa, according to three people familiar with the matter.

Naspers will focus on consolidating technologies and harnessing artificial intelligence across its e-commerce business after taking full control of Russia’s largest classified advertising platform in a $1.1-billion deal.

Vodacom Group fell the most in more than two months after it reported falling sales in South Africa, where a slower than expected economic recovery dampened consumer spending.

WorldRemit, a UK company that specialises in money transfers into Africa, plans a new funding round in the next six months ahead of a potential initial public offering or buyout.

Vodacom is paying out “reasonable compensation” to a former employee for his idea to develop a popular call-back service after a former CEO first took credit for the product.

Eskom is said to be considering the sale of smaller assets as the state-owned power utility weighs solutions to a liquidity crisis that contributed to a wave of rolling blackouts.

Liquid Telecom received a $180-million cash injection from UK development finance institution CDC Group as Africa’s largest fibre network operator expands broadband infrastructure across the continent.

Telkom is considering making an offer to buy a majority stake in Cell C that would lead to a combination of South Africa’s third- and fourth-largest mobile phone companies, according to people familiar with the matter.

Vodacom is keeping some of its South African franchise stores shut after members of opposition party Economic Freedom Fighters allegedly vandalised outlets in protest of an image of their leaders at an event hosted by the wireless carrier.