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.
MTN Group shares soared by 18.1% on Thursday after Africa’s biggest wireless carrier started a R15-billion disposal plan to shore up the balance sheet.
In the podcast this week, Duncan McLeod and Regardt van der Berg discuss Stella Ndabeni-Abrahams altercation with an SABC news crew at the weekend, and her subsequent apology.
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.
MTN Group is exploring a sale of shares in African online retailer Jumia and values the company at as much as US$1-billion, according to people familiar with the matter.
Safaricom, the Kenyan mobile phone company that runs a money transfer service almost the size of the East African nation’s economy, invested in a courier service business in an effort to stimulate e-commerce and gain a foothold in growing
South African telecommunications group MTN, along with investment firm Rocket Internet and investment bank Goldman Sachs, have announced they are pumping €300m, or more than R5bn
Traditional retailers and online stores are gearing up for Black Friday, which is likely to give the South African retail sector a pre-Christmas boost. Black Friday originated in the US and is the Friday after the American Thanksgiving when retailers sell their merchandise
Early e-commerce market entrant in Nigeria, Naspers’s Kalahari.com, came and went, with many suggesting it was inevitable given that the number of online customers was tiny. But Rocket Internet start-up Jumia and Konga, backed by Sweden’s Kinevik and Naspers, are now estimated by those