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Jumia has tripled in value within one week. We look at why.
Jumia’s IPO saw its share price rose by 75% on Day 1. Shares were priced at $14.50 before the IPO. Five days later they are trading at $43, valuing the business at more than $3bn. What are the company’s prospects …
Remittances to Africa rose by 11.7% to $86bn in 2018
If remittances to Africa were an economy, they would be the 6th largest in Africa, ahead of Kenya in the rankings. Within Africa, the largest recipient of remittances is Egypt ($29bn) – equivalent to almost 12% of its GDP. Note – …
The Africa Continental Free Trade Agreement is set to come into force
The Africa Continental Free Trade Agreement (AfCFTA) has now been ratified by 22 countries, meeting its minimum threshold to come into force. It will create the world’s largest free trade zone, covering 1.2bn people and a combined GDP of $2.5 trillion. …
Mastercard invests $56m in Jumia ahead of IPO
Mastercard has agreed to invest €50m($56m) in Jumia in a private placement ahead of the African online retailer’s IPO in New York. It joins Pernod Ricard, Rocket Internet and MTN as an investor. The Pernod Ricard deal, which saw it acquire …
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