When Christophe Fofana, a 29-year-old taxi driver and student in Ivory Coast, needed a birthday present for his daughter last year, he did something he hadn’t done before. He went shopping online.
Jumia is planning to sell 13.5 million American Depository Shares at $13 to $16, raising as much as $216 million. The listing is meant to give the company financial flexibility and increase awareness of the brand among investors, the firm said in a regulatory filing last month. Still, investors tend to give e-commerce companies leeway because customer growth and market share are seen as more important, according to Seema Shah, a consumer analyst at Bloomberg Intelligence in New York. While the company competes with the likes of Amazon’s Souq.com and Naspers Ltd. in individual markets, Jumia has said it believes it’s the only pan-African e-commerce site.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: Are South African cellphone companies becoming a new form of African government ATM machine?First, the Nigerian government imposed massive fines of MTN in disputed circumstances for notional regulatory infractions. Now the executives of Vodacom’s Tanzanian business have been arrested and charged with ‘economic sabotage’. Is a trend emerging of African governments targeting foreign cellphone companies?
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: China Hails `New Consensus’ on Trade, Though Deal Not Ready YetChina and the U.S. claimed progress in talks to end their trade war, with President Xi Jinping pushing for a rapid conclusion and President Donald Trump talking up prospects for a “monumental” agreement that may still be some weeks away.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK OP-ED: Blockchain and cryptocurrency regulation in AfricaSub-Saharan Africa may have the second-highest population of unbanked adults in the world, at about 350 million people, or 17% of the global total. It is estimated that two-thirds of sub-Saharan Africans do not have a bank account. Blockchain technology can help fix that, but only if African regulators act fast.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Facebook’s South Africa problem: Just what exactly is ‘white nationalism’?Facebook, under enormous pressure to be more conscious about the content on the platform, has recently announced that beginning immediately it will start taking down posts that support white nationalism and white separatism. But what exactly is ‘white nationalism’ and how would it apply in South Africa? Turns out, it’s a work in progress. A MINORITY's(self)-Preservation .
Source: dailymaverick - 🏆 3. / 84 Read more »