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What we know (and don’t) about Goldman Sachs’ Africa VC investing

What we know (and don’t) about Goldman Sachs’ Africa VC investing Goldman Sachs is investing in African tech companies. The venerable American investment bank and financial services firm has backed startups from Kenya to Nigeria and taken a significant stake in e-commerce venture Jumia, which listed on the NYSE in 2019. Though […]

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Jumia, DHL, and Alibaba will face off in African ecommerce 2.0

Jumia, DHL, and Alibaba will face off in African ecommerce 2.0 The business of selling consumer goods and services online is a relatively young endeavor across Africa, but ecommerce is set to boom. Over the last eight years, the sector has seen its first phase of big VC fundings, startup duels and […]

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2019 Africa Roundup: Jumia IPOs, China goes digital, Nigeria becomes fintech capital

2019 Africa Roundup: Jumia IPOs, China goes digital, Nigeria becomes fintech capital 2019 brought more global attention to Africa’s tech scene than perhaps any previous year. A high profile IPO, visits by both Jacks (Ma and Dorsey), and big Chinese startup investment energized that. The last 12 months served as a grande […]

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Jiji raises $21M for its Africa online classifieds business

Jiji raises M for its Africa online classifieds business Pan-African digital classifieds company Jiji has raised $21 million in Series C and C-1 financing from six investors, led by Knuru Capital. The Nigeria based venture, co-founded by Ukrainian entrepreneur Vladimir Mnogoletniy, has an East to West presence that includes Ghana, Uganda, Tanzania, […]

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Opera’s Africa fintech startup OPay gains $120M from Chinese investors

Opera’s Africa fintech startup OPay gains 0M from Chinese investors Africa focused fintech startup OPay has raised a $120 million Series B round backed by Chinese investors. Located in Lagos and founded by consumer internet company Opera, OPay will use the funds to scale in Nigeria and expand its payments product to […]

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Africa Roundup: Goldman leads $30M Twiga raise, China grows tech influence, Jumia weathers lockup-expiry

Africa Roundup: Goldman leads M Twiga raise, China grows tech influence, Jumia weathers lockup-expiry Kenya’s Twiga Foods raised a total of $30 million in October from lenders and investors led by Goldman Sachs. This adds to the list of African startups the U.S. financial firm has backed, including e-commerce venture Jumia and South […]

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Revisiting Jumia’s JForce scandal and Citron’s short-sell claims

Revisiting Jumia’s JForce scandal and Citron’s short-sell claims In advance of Jumia’s November financial reporting, it’s worth revisiting the company’s second quarter results, the downside of which included some negative news beyond losses. The Africa focused e-commerce company — with online verticals in 14 countries — did post second-quarter revenue growth of […]

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Kenya’s Twiga Foods eyes West Africa after $30M raise led by Goldman

Kenya’s Twiga Foods eyes West Africa after M raise led by Goldman Kenya’s Twiga Foods has raised a total of $30 million from lenders and investors led by Goldman Sachs. The B2B food distribution company financed $6.25 million of the funding in convertible debt and $23.75 million in equity, classified as a […]

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Africa e-tailer Jumia’s shares fall 4% day after IPO lockup expiration

Africa e-tailer Jumia’s shares fall 4% day after IPO lockup expiration Shares of Africa focused e-commerce company Jumia dropped 4% the day after the lockup period expired for its April IPO on the New York Stock Exchange. The lockup provision prevents major shareholders — namely those who purchased equity pre-public listing — […]

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Africa Roundup: CcHub’s iHub acquisition, Andela’s $50M run-rate and layoffs, Transsion’s IPO

Africa Roundup: CcHub’s iHub acquisition, Andela’s M run-rate and layoffs, Transsion’s IPO Two of Africa’s powerhouse tech incubators joined forces in September. Nigerian innovation center and seed-fund CcHub acquired Nairobi based iHub. The purchase amount was undisclosed, but CcHub will finance the deal out of its real-estate project to build a new 10-story […]

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