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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 …
Golden Guinea lager

Nigeria’s Golden Guinea breweries resumes production

Golden Guinea Breweries has resumed production. The brewery now has an installed capacity of 1.15m bottles per day or 2m hectolitres annually. The company owns the Golden Guinea Lager and Eagle stout brands and has the rights to produce Holsten’s Bergedorf …

Yem Yem

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Hubmart

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Blenco

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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 – …
Africa eShop

DHL partners with MallforAfrica to offer new online retail app

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 …
AfCFTA Ratified

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 logo

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 …
Gloopro

Nigeria’s Gloo.ng exits online grocery retailing

Nigerian startup Gloo.ng has exited online grocery retail. Instead, at the request of its FMCG clients, it will become an online B2B procurement service known as Gloopro. The company is also in the process of its Series A funding round. …