Amazon.com confirmed on Thursday what has been a slowly evolving financial picture. It is now a company that is more profitable than it has been in years, but the supercharged growth is gone.
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Naspers, the most valuable company on the JSE, will prioritise investments in classifieds, financial technology and food — activities that it could possibly hive off with separate share listings in the right circumstances.
Jumia Technologies raised $196-million in an initial public offering in New York, as the Africa-focused online retailer looks to boost its profile and expand an ever-growing customer base.
Often tagged as Africa’s Amazon.com, Jumia has been able to grow in markets largely untapped by the US heavyweight, which is hampered by a lack of distribution infrastructure on the continent.
Jumia Technologies said on Monday that Mastercard has agreed to invest €50-million in a private placement ahead of the Africa-focused online retailer’s planned initial public offering in New York.
Ride-hailing firm Bolt – formerly known as Taxify – has announced it will launch a food delivery service in South Africa, in the process taking on rivals Uber Eats and Mr D Food.
Jumia has kick-started a plan to sell shares in New York as the fast-growing Nigerian firm seeks to take advantage of rising Internet access and increasing smartphone use on the continent.
One of the world’s biggest website hosting providers, GoDaddy, has officially been launched in South Africa, offering .co.za domain registrations at just R10 for the first year.
The South African Post Office, which faces ongoing criticism from the public over delays in mail and parcel deliveries, wants to revive its long-stated plan of becoming an online shopping delivery player.
Uber Technologies is in talks to sell its Uber Eats operations in India to rival Swiggy, less than two years after it entered the country’s competitive food-delivery business, according to a person familiar with the negotiations.