Tag Archives: Jumia
Jumia: Latest News
Kevin Mwanza, 4:16 am
Africa Internet Group (AIG), one of the largest e-commerce companies on the continent, has raised $245 million (225 million euros) in one of the largest fundraising rounds by an African-focused tech firm. The funding has been raising from US-based investment bank Goldman Sachs and existing investors South African telecom MTN Group and German startup incubator Rocket Internet.
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.
Kevin Mwanza, 7:31 am
Reports that Jumia, one of Africa’s fast growing e-commerce platforms, has cut 300 jobs in one of its flagship markets, Nigeria, raising concern that the online retailer could be shutting down its operation in the West African nation. According to a TechCabal report, the Rocket Internet funded e-commerce firm was planning to shed as much as 30 percent of its workforce in its Nigerian unit
Lillian Mutiso, 4:19 am AFKI Original
The telecommunication industry in Africa has witnessed a revolution especially with the onset of the handset mobile phones. Mobile phones have changed the ways companies, government agencies and other institutions deal with citizen in many African countries. Apart from easing communication, the wide use of mobile phones has boosted the economic output of individuals living on the continent.
Kevin Mwanza, 7:30 am
The sector, which now supports over 20,000 jobs, is said to have attracted over $200 million in foreign direct investment since 2012, with the two largest online retailing website, Jumia and Konga, recieving $50 million in the last one year. Nigerian online retailers are now facing one big challenge in terms of data security which is making some potential clients stay away from these platforms.
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.
Paul Adepoju, 5:40 am AFKI Original
Thanksgiving on the streets of Lagos and other parts of Nigeria is just an act and attitude mainly associated with politicians that have won elections and not a public holiday. But local online shopping platforms such as Konga and Jumia are giving a different meaning to the American holiday by offering amazing discounts
Kevin Mwanza, 9:08 am
With a population of over 170 million people, Nigeria provide one of the most robust consumer markets in Africa. It is not a surprise the west African Nation overtook South Africa as the largest Economy on the continent last April. The country, which is also Africa’s largest oil producer, has seen a influx of successful technology start ups in the last few years, from Jumia – an online shop with over 500,000 item and more than 100,000 visits per day; to Hotels.ng – an e-reservations site
Makula Dunbar, 4:44 pm
“In most of Africa you have a vibrant economic situation happening,” says Christina Hawley, managing director of online shopping service Jumia, speaking at WIRED Retail. The fact that Jumia didn’t even exist two years ago, and is now operating in nine different countries and seeing double-digit growth, is in itself testament to the blossoming economic environment
Kevin Mwanza, 6:13 am
Nigeria’s leading online retailer, Konga is set to become Africa’s biggest internet company as an investment of about $60 million is set to be injected into the company. According to a source close to the retailer, Konga’s value will rise to about $190 million post the capital injection. But while the new investment speaks volume of investors’ confidence in Konga,major rival in the online retail space in Nigeria, Jumia may not be having the best of times.
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