Search Results for: jumia

Twiga Foods, Jumia signs deal for Fresh Food distribution during COVID 19 Crisis

Editor
jumia twiga foods covid 19 deal

E-commerce platform Jumia Kenya and Twiga Foods have signed a partnership agreement that will enable shoppers on the platform to buy fresh produce as well as processed foods distributed by the farm produce aggregator. Through the deal, shoppers can now buy pre-packed bundles whose cost will range between Sh1,230 and Sh3,180 depending on the goods. The bundles will save customers up to 50 percent compared to average supermarket prices, and consist of items like watermelon, potatoes, tomatoes, onions, bananas, maize meal and processed milk. Delivery will be free in Nairobi…

Jumia’s stock has reportedly lost more than half of its value since its NYSE public IPO

Staff Writer

Jumia, the ‘African’ ecommerce company that has its corporate headquarters in Dubai and operations in 14 African countries including Egypt, Morocco, Tunisia, and Algeria, continues to struggle after an initial good run at the New York Stock Exchange. It’s stock closed at $6.68, an all-time low, on Friday, with the market cap going down to ~$520 million. For the sake of context, the Rocket Internet-founded Jumia had become a unicorn (with a valuation of $1.08 billion) in 2016 (when it was known as Africa Internet Group or AIG) after raising…

Jumia hits US$196-million in landmark New York IPO but investors may regret funding an elusive dream

Editor

Jumia billed as Africa’s first “tech unicorn”, is a venture-capital funded company valued at more than $1bn on the New York Stock Exchange. Its lack of a profitable model didn’t seem to matter much on the first day of trading on Friday, as the stock surged by 75%. Jumia filed S1 documents with the US Securities and Exchange Commission (SEC) last month to launch its IPO, which was underwritten by banks such as Morgan Stanley and Citigroup. The stock went on sale on Friday 12 April 2019, initially valued at…

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

Editor

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.…

Sources Intimate that Rocket Internet is preparing a Jumia IPO

Dianne Jacobs
Banking Crisis

Reuters sources have intimated that German start-up investor Rocket Internet (RKET.DE) is preparing its African online shopping platform Jumia for a possible New York listing in the first quarter of 2019 which could value the firm at about $1 billion. Citi (C.N), Morgan Stanley (MS.N) and Berenberg are coordinating the IPO, the sources said. Shares worth up to $250 million may be sold, one of the sources said, adding that no final decision about the timing or metrics of the deal had yet been taken. The investor and the banks…

Bolt ventures into food delivery business

Dianne Jacobs
Bolt Food

Bolt ventures into the food delivery business Bolt, a Taxi-hailing service is venturing into the food delivery business in Kenya targeting alternative revenue streams as the market has seen reduced mobility in the wake of Covid-19 restrictions. Bolt advertised the position of Country Manager for its food delivery arm in Kenya signaling the beginning of operations towards the end of the year. “We’re already present in 30+ markets across Europe and Africa. Now, it’s time for us to bring the know-how around building a mobility platform to the food delivery…

COVID-19 is Transforming E-Commerce Globally

Dianne Jacobs
Buy on Google ,Commission feesgoogle waive

Just over 306 million Americans are affected by stay-at-home orders, nearly 95% of the U.S. population. COVID-19 will forever change retailing, and its initial impact on e-Commerce is creating challenges to online selling & service no one imagined in January. The following graphic from COVID-19 Commerce Insight, an Emarsys initiative in cooperation with GoodData show how year-over-year revenue growth comparing the last seven days to the same period last year: Mobile devices are the most popular device for online shopping by a wide margin. 72% of consumers are using mobile…

2020 survey lists the most admired African brands

Editor
2020 survey lists the most admired African brands

The survey which started 10 years ago, is now seen as the most authoritative survey, analysis, and metric of African brands. It is a consumer-led survey that seeks to establish brand preferences across Africa. The respondents of this survey are 18 years and older, in 27 countries which collectively represent 50% of the continent, covering all economic regions and accounting for an estimated 80% of the population and the GDP of Africa. American sports and fitness giant, Nike takes the top spot for the third year in a row. MTN…

The Internet and Mobile taking over the delivery space

Dianne Jacobs
Food

For the longest time, restaurants held takeaways as an afterthought. Well, not anymore. The food catering business has gone past the takeout era and has evolved so much that delivery has become the hot trend in Kenya. The great digital revolution, burgeoning e-commerce and the convenience of mobile money which allows buyers to pay for their deliveries right off their phones, has spurred a whole new industry that is today the food delivery market. And Kenyans, enticed by the convenience of ordering online from their favorite local restaurants and having…

Nigeria proposes law to tax local online purchases

olivia Craig
Voice App

Online purchases in Nigeria could soon come with a tax bill in part of plans to raise more revenue to fund a record budget, Nigeria’s government is considering a 5% Value Added Tax (VAT) specifically for online purchases. Babatunde Fowler, head of Nigeria’s federal tax agency, says the government may appoint banks as agents to deduct 5% VAT on all local online purchases with a bank card. The policy could be in place by early next year, Fowler said in an interview with Premium Times, a local online newspaper. This…