Tag Archives: Jumia Nigeria
Jumia Nigeria: Latest News
Tom Jackson, 9:29 am AFKI Original
E-commerce in Africa is a very long-term play indeed. Aside from issues with logistics, there are also problems with online payments, which still suffer from a lack of trust, and the sheer fact Africans still prefer to shop online. Moreover, fewer than 30 per cent of Africans have internet access. The Nigerian e-commerce powerhouses, however, have their eyes on a far greater prize, and are prepared to stomach losses for a number of years.
Kevin Mwanza, 6:41 am
French Insurance giant AXA plans to invest 75 million euros ($84 million) for a 8 percent stake in Africa Internet Group (AIG), one of the largest e-commerce companies on the continent. Nigerian-owned AIG is the holding company for Africa’s fast growing online retail startup Jumia that has operation in 11 countries. AXA’s investment now pushes AIG’s valuation to slightly over a billion dollars.
Tom Jackson, 7:50 am AFKI Original
The arrival of venture capital firms from abroad generally makes headlines in Africa. Arrivals in 2014 and 2015 are cause for optimism, but startup funding is increasingly available from African sources too. Large African companies, notably mobile operators, are reviewing their strategies towards smaller businesses. Whereas some companies once zealously protected themselves from competition from smaller business, now they are more willing to invest.
Kevin Mwanza, 6:04 am
PayPal has signed up “tens of thousands” of Nigerians in its first week of operating in Africa’s biggest economy, with consumers already purchasing items from Britain, China and the United States via its online platform, a company official said. E-commerce remains in its infancy in most of Africa but is growing exponentially with the advent of online retailers such as Jumia, partly owned by South African phone operator MTN, and a growing middle class with money to spend.
Dana Sanchez, 2:01 pm
Africa’s brightest young entrepreneurs may be today’s upstarts, but they’re tomorrow’s legends, and they’re building empires as they disrupt Africa and the world, Forbes reports. Forbes Contributor Mfonobong Nsehe asked readers to nominate Africa’s brightest young entrepreneurs under age 30, and the list that follows is based on 800 responses.
- Real Estate