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 …

Kenyan digital startup Copia has launched a new online retail service aimed at underserved ‘bottom of the pyramid’ consumers, in rural areas. The system works by allowing purchases made in the city to be delivered to agents in rural areas, …

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 …

Kevian Kenya, owners of the Afia and Pick ‘N’ Peel fruit juice brands, has received $10.9m loan from German sovereign wealth fund DEG to finance its expansion. The loan follows a $7.8m the company received from DEG in 2012, which …

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 …

Twiga Foods, the Kenyan mobile-based B2B fresh produce distribution platform, has hired Peter Njonjo away from Coca-Cola. Njonjo, who is a key shareholder in Twiga, was the President of Coca-Cola’s West and Central Africa business unit. According to the company’s press …

mPharma is reportedly acquiring the Kenyan pharmacy chain Haltons in a cash deal. The acquisition is subject to regulatory approval and the successful closure of mPharma’s $12m Series B funding round. mPharma is a A digital vendor management platform that manages prescription drug …

Shoprite has opened its second supermarket in Kenya. The new supermarket is located at Garden City Mall in Nairobi, the former site of a Nakumatt store. The South African retailer has also revealed it will open just two more stores …

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 …