jumia

Africa e-tailer Jumia’s shares fall 4% day after IPO lockup expiration

Shares of Africa-focused e-commerce company Jumia dropped 4% the day after the lockup period expired for its April IPO on the New York Stock Exchange. The lockup provision prevents major shareholders

Africa Roundup: CcHub’s iHub acquisition, Andela’s $50M run rate and layoffs, Transsion’s IPO

Two of Africa’s powerhouse tech incubators joined forces in September. Nigerian innovation center and seed-fund CcHub acquired Nairobi based iHub. The purchase amount was undisclosed, but CcHub wil

Hear about investing in African tech at Disrupt SF with Marième Diop, Wale Ayeni and Sheel Mohnot

If you’re a VC or founder in London, Bangalore or San Francisco, you’ll likely interact with some part of Africa’s tech landscape for the first time — or more — in the near future. W

Africa-focused Andela cuts 400 staff as it confirms $50M in revenue

Africa-focused tech talent accelerator Andela will cut 400 junior engineers across Kenya, Uganda and Nigeria, CEO Jeremy Johnson told TechCrunch. The layoffs come as the startup released first-time ea

DHL expands Africa eShop online retail app to 34 countries

DHL has expanded its DHL Africa eShop business to 13 additional markets, upping the presence of the global shipping company’s e-commerce platform to 34 African countries. DHL went live with the digi

Africa Roundup: Goldman backs Kobo360, Rwanda commits to EVs, Interswitch IPO update

Nigerian freight logistics startup Kobo360 raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks. The company — with

Update on Nigerian fintech firm Interswitch and its speculative IPO

Nigerian fintech firm Interswitch has been circulating in business news around a possible IPO on the London Stock Exchange. Last month Bloomberg News ran a story — based on unnamed sources — repor

Nigerian logistics startup Kobo360 raises $30M backed by Goldman Sachs

Nigerian freight logistics startup Kobo360 has raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks. The company — wit

Why this Nigerian fintech startup is volunteering audited financials

Nigerian fintech firm Carbon — an early-stage financial services startup based in Lagos — has posted on its website financials audited by KPMG. This comes four months after the company obtained a

Opera founded startup OPay raises $50M for mobile finance in Nigeria

OPay, an Africa-focused mobile payments startup founded by Norwegian browser company Opera, has raised $50 million in funding. Lead investors include Sequoia China, IDG Capital and Source Code Capital

MAX.ng raises $7M round backed by Yamaha and pilots EVs in Nigeria

Nigerian motorcycle transit startup MAX.ng has raised a $7 million funding round led by Novastar Ventures, with participation from Japanese manufacturer Yamaha. Based in Lagos, the company’s app

Africa Roundup: Jumia’s post-IPO earnings, Gokada’s $5.3M raise, Facebook’s fake-news purge, Joe Montana’s fintech investment

Jumia held its first post-IPO earnings call and weathered a short-sell assault in May, with Wall Street showing confidence in the Pan-African e-commerce company. On the numbers, key takeaways were tha

Diving deep into Africa’s blossoming tech scene

Jumia may be the first startup you’ve heard of from Africa. But the e-commerce venture that recently listed on the NYSE is definitely not the first or last word in African tech. The continent has an

DHL brings Africa eShop to 20 countries in a competitive nod to Jumia

DHL is expanding its DHL Africa eShop business to 9 additional markets, upping the presence of the global shipping company’s e-commerce platform to 20 African countries. DHL went live with the d

Africa e-tailer Jumia issues post-IPO results amid short-sell assault

For Pan-African e-commerce startup Jumia, going public has been an up and down affair. The company filed SEC IPO docs in March and saw its share rise 70% after listing on the NYSE in April at $14.50.

Africa Roundup: Jumia’s IPO, DHL launches Africa e-Shop, Cathay’s $168M VC fund, ConnectMed acquired

The biggest news in a month of weighty African headlines was Jumia listing on the New York Stock Exchange. After filing SEC IPO docs in March, the Pan-African e-commerce company’s shares began tradi

No one knows how to hire, plus brand design and African tech

Editor’s Note: No one knows how to hire Hiring is the lifeblood of the world. Few people do truly singular work; instead, nearly every facet of our civilization is built by groups of humans (and inc

Acquisitions, more than IPOs, will create Africa’s early startup successes

Africa has made its global IPO debut. Pan-African e-commerce company Jumia—a $1 billion-valued company—began trading live on the NYSE last week. The stock offering made Jumia the first upstart ope

Amazon China to close local marketplace and place more focus on cross-border

Amazon has finally given up the fight with Chinese online shopping giants to capture the domestic market. On Thursday, the Seattle-based e-commerce company announced it will shut down its marketplace

African e-commerce startup Jumia’s shares open at $14.50 in NYSE IPO

Pan-African e-commerce company Jumia listed on the New York Stock Exchange today, with shares beginning trading at $14.50 under ticker symbol JMIA. This comes four weeks after CEO Sacha Poignonnec c
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