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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 – …
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. …

Meikles

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Pick-n-Pay

Pick n Pay

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OK Zimbabwe

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Vivo Energy

Vivo Energy finalises its acquisition of Engen service stations

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. …

Spar

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Nigerian Breweries

Results roundup: Nigerian Breweries, Africa Distillers, Pioneer Foods

Nigerian Breweries see revenues fall by 5.8% in FY2018, Africa Distillers (Zimbabwe) profits rise by 159% in the first six months of FY2019, Pioneer Foods (South Africa) sees a 7.8% increase in turnover during the four months ended 31st January 2019. …
Choppies

Choppies resolves its ownership battle in Zimbabwe

The Mphoko family, which had claimed it owned 51 %of the Choppies business in Zimbabwe, has now come to an agreement with the Botswanan supermarket chain and exited the business. A reminder of what the issue was: Choppies in Zimbabwe is operated …