Nasdaq-listed e-retailer Jumia Technologies plans to focus on Nigeria as part of a bid to turn profitable.
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An investigation has identified wide-spanning examples of Starlink kits being traded and activated illegally around the world.
Jumia will close its food delivery business in all seven African countries in which the unit operates by year-end.
SpaceX will partner with e-commerce firm Jumia Technologies to expand its Starlink satellite broadband services in Africa.
Jumia Technologies made a deal to sell French retailer Leroy Merlin’s products in West Africa.
African e-commerce firm Jumia Technologies said it was past peak losses, driving its shares up 16% despite a wider quarterly loss.
Jumia Technologies is expanding in online food delivery as the pioneering Africa e-commerce business looks to grow beyond its main market of trading phones and electronics.
African e-commerce pioneer Jumia said on Wednesday its cost cuts helped it reduce fourth quarter losses by 47% from a year ago, even as revenues continue to slide, showing that its path to profitability was on course.
Jumia Technologies is looking beyond an immediate target of generating a profit from its pioneering African e-commerce business, laying out longer-term plans to spin off divisions and enter new countries.
MTN Group said on Friday it had now exited its 18.9% stake in African online retailer Jumia, making R2.3-billion in net proceeds.