Africa’s e-commerce giant Jumia to list on the New York Stock Exchange

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Reports of an initial public offering (IPO) by Jumia, the pan-African conglomerate of e-commerce businesses, have been finally confirmed but details of its financials do not paint a pretty picture. Jumia has filed to launch its IPO on the New York Stock Exchange, documents from the U.S. Securities and Exchange Commission (SEC) show. The intended IPO is a landmark first for e-commerce and tech businesses on the continent. It could also mark a possible exit by Rocket Internet, Jumia’s German parent company, divesting its remaining 28% stake in the company.…

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MPESA option now available on Aliexpress App

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Shopping online can seem like a daunting task to some people, especially considering the  limited payment options and security issues that bog online transactions. Alibaba-owned e-commerce platform, AliExpress, has slowly but steadily gained popularity in Kenya as the platform opens up the Chinese vast goods market to Kenyans. International shopping in Kenya has mainly relied on third-party services such a Vitumob or Something Random, that aim to connect locals to the well-established platforms like Amazon but recently we have seen these shopping websites make an effort to directly reach their…

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Ride-hailing platform Taxify rebrands as Bolt

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Taxify, the ride-hailing platform rebranded in SA as Bolt, after five years in the local market. Uber rival said on Thursday. “This update brings the brand identity in line with the company’s broader vision of transportation that has already expanded from ride-hailing with cars to motorbikes and scooter-sharing,” it said. CEO Markus Villig said in a statement that when the company was founded five years ago, its first product was a taxi-dispatch solution that gave it its original name. Since then, it has outgrown parts of its brand, he said.…

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Net Giants including Facebook, Telegram & Signal, are planning to roll out new cryptocurrencies

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SAN FRANCISCO — Some of the world’s biggest internet messaging companies are hoping to succeed where cryptocurrency start-ups have failed by introducing mainstream consumers to the alternative world of digital coins. The internet outfits, including Facebook, Telegram and Signal, are planning to roll out new cryptocurrencies over the next year that are meant to allow users to send money to contacts on their messaging systems, like a Venmo or PayPal that can move across international borders. The most anticipated but secretive project is underway at Facebook. The company is working…

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Uber introduces an electronic chip in NTSA Kenya safety enforcement push

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Taxi-hailing firm Uber has introduced a new safety measure that requires vehicle owners to first acquire an electronic chip windscreen sticker from the National Transport and Safety Authority (NTSA). The sticker allows identification and authentication of car ownership before they are certified to offer its service. Uber in a notice to vehicle owners last week said starting March 1 all vehicles were required to have the NTSA’s Radio Frequency Identification sticker before receiving a go-ahead for further inspection at partner stations AutoXpress or Kingsway Tyres. In the latest safety drive,…

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Cryptocurrency may have bottomed in December

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A technical indicator that incorporates both bitcoin’s price and trading volume is signaling the cryptocurrency may have bottomed in December. The money flow index (MFI), also known as the volume-weighted relative strength index, is used to identify buying and selling pressure and oscillates between zero to 100. A rising MFI indicates an increase in buying pressure, while a falling MFI is considered a sign of increasing selling pressures. Essentially, the MFI validates or confirms price trends. Many times, however, the indicator diverges from the prevailing market trend. For instance, BTC dashed hopes…

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SMEs Digitization in Africa

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Gartner, the global research and advisory firm, defines digitalisation as “the use of digital technologies to change a business model and provide new revenue and value-producing opportunities; the process of moving to a digital business”. Digital technologies include social technology platforms, Mobile, Cloud, Internet of Things, Artificial Intelligence, Analytics, Virtual Reality, and Blockchain, amongst others. All these technologies can be harnessed to introduce new digital business models by changing and enabling better internal processes, customer experience and operating models. Digitalisation can be a source of unapparelled competitive advantage when adopted…

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Naspers Ltd. spins off African pay-TV unit MultiChoice Group Ltd for $3 Billion

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Naspers Ltd. spun off African pay-TV unit MultiChoice Group Ltd. at an initial valuation of about 42 billion rand ($3 billion), enabling the continent’s biggest company to focus on its current incarnation as a global internet-technology firm. MultiChoice shares started trading at 95.5 rand in Johannesburg, and was at 96.15 rand as of 9:13 a.m. Naspers, which makes up almost a fifth of Johannesburg’s stock exchange, traded 2.3 percent lower at 3,069.99 rand after the spin off. Key Insights MultiChoice’s valuation could eventually settle at about $5 billion to $6…

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Uber and lyft race to debut on the stock market

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With the SEC up and running again after the government shutdown, the IPO gears are grinding back to life. Uber Technologies and Lyft Inc., both planning highly-anticipated public offerings, could be two of the first unicorns to take the plunge in the public markets this year. It’s not confirmed publicly which rideshare giant plans to go first, but both reportedly have received feedback from the SEC on their IPO proposals. But the significant disparity in their sizes and valuations could influence how both are ultimately received by the market. That could put pressure on the rival…

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Amazon backs down on New York HQ Plans

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“After much thought and deliberation, we’ve decided not to move forward with our plans to build a headquarters for Amazon in Long Island City, Queens,” the company said in a statement. Amazon has announced it will no longer build a headquarters in New York. “After much thought and deliberation, we’ve decided not to move forward with our plans to build a headquarters for Amazon in Long Island City, Queens,” Amazon said in a statement Thursday. The change would have brought 25,000 jobs to the Queens area, but the company would…

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