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 …

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 – …

DHL is the latest company to try to offer a window for retailers to sell into African markets. The logistics company has partnered with MallforAfrica to launch its Africa eShop app in 11 countries, providing a platform for more than 200 …

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 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 …

Uni-life, a new modern supermarket has officially opened in Accra, Ghana, having soft launched in September 2018. This is not, in itself unusual. However, the new store is reportedly owned by self made (cedi) billionaire, Nana Wan, a Ghanaian entrepreneur …

Distell delivers impressive FY2018 results but warns that it faces an uphill battle in South Africa, which accounts for 3/4 of its revenues. Distell’s CEO has also indicated that it sees Ethiopia, Nigeria and Zimbabwe as key focus markets. Highlights Revenue …

Vivo Energy, which operates the Shell service station franchise in Africa, has finalised its acquisition of Engen service stations. The purchase means that Vivo adds almost 10% more service stations to its network, but crucially opens up eight new country markets. …

French wine and spirits company Pernod Ricard has invested in the leading African online retailer, Jumia. The two companies will form a strategic partnership to improve Pernod Ricard’s distribution in African markets. For Pernod Ricard, Jumia’s 14 country coverage, online …