ecommerce – Page 3 – Africa Tech Digest

What makes us African is our exclusive focus on African consumers, says Jumia’s co-founder

24Apr

By Africa Tech DigestNo Comments

ecommerce

What makes us African is our exclusive focus on African consumers, says Jumia’s co-founder

It’s been an remarkable couple of weeks for Jumia, the largest e-commerce operator in Africa, as it made tech history by listing on the New York Stock Exchange. The company’s initial public offering has been lauded as game-changing in African tech circles especially given previous concerns about a lack of exits for investors in tech startups as well significant operational challenges in e-commerce across the continent. Quartz Africa spoke to Sacha Poignonnec, co-founder and chief executive of Jumia, to discuss the company’s operations across African markets, the possible impact of its landmark initial public offering and the sustained debate over the company’s identity. How do you respond to the increasing furor around Jumia’s roots and identity as an African company? For us, it’s...

Africa’s startup ecosystems are at a major turning point

17Apr

By Africa Tech DigestNo Comments

ecommerce, Trends

Africa’s startup ecosystems are at a major turning point

It isn’t hyperbole to describe last week as a turning point for the African startup ecosystem. The obvious reason: The successful initial public offering of Jumia. Yet it’s bigger than the e-commerce company, and it’s a tide that had started to turn since the second half of 2018. Jumia, now listed on the New York Stock Exchange, may not represent the greatest of financial boons for a majority of African investors (though South Africa’s MTN is still its largest shareholder—for now). Getting the IPO—Africa’s largest e-commerce service, operating in 14 countries—off the ground represented a coming of age for a sector the world’s biggest capital markets and investors often have portrayed as a well-intentioned but fanciful dream. That was particularly clear for anyone with a perspective dra...

What makes Africa’s largest e-commerce platform African?

11Apr

By Africa Tech DigestNo Comments

ecommerce

What makes Africa’s largest e-commerce platform African?

News of Jumia’s filing to go public on the New York Stock Exchange last week is stirring questions about what defines a startup as African. While the company runs the largest e-commerce business across Africa with operations in 14 countries including Nigeria, Kenya, Morocco and Egypt, it is incorporated in Germany, has its headquarters in Dubai with its central tech team based in Portugal, and as its IPO filing shows, will be listed in New York. Being a “German stock corporation” probably means it will pay the majority of its corporate taxes in Germany, but its subsidiaries will also pay local taxes in most countries. “There isn’t sufficient clarity on this matter,” says Aly-Khan Satchu, a Nairobi-based financial and investment analyst. “It’s basically called African because its busi...

The billion-dollar IPO of Africa’s biggest e-commerce player is happening this month

10Apr

By Africa Tech DigestNo Comments

ecommerce

The billion-dollar IPO of Africa’s biggest e-commerce player is happening this month

If you’re looking to get a slice of the biggest e-commerce operator in Africa, get the checkbook ready: there’s finally an established timeline for the initial public offering (IPO) launch by Jumia. Quartz Africa can now confirm the company’s listing on NYSE will happen in April. After long-running speculation over the past year, Jumia filed its S1 documents to list on the New York Stock Exchange last month. That timeline, as confirmed by a Jumia spokesperson, is at par with typical listings on the NYSE following recent events. Indeed, in updated S1 documents, Jumia has set a price range of $13 to $16 per share last week. Like most companies intending to list, after setting a share price range, Jumia will now commence an investor roadshow during which its final share price will be se...

The fastest growing types of online stores in South Africa

6Jan

By Africa Tech DigestNo Comments

ecommerce, Southern Africa, Trends

The fastest growing types of online stores in South Africa

Online retail in South Africa is expected to pass the R14 billion mark in 2018 as e-commerce begins to go mainstream. This is one of the major findings from the latest Online Retail in South Africa study, conducted by World Wide Worx with the support of Visa and Platinum Seed. The 2018 figure – which represents 25% growth over 2017 – comes as a surprise given predictions that online retail growth would slow down to below 20% by 2018. Forecasts have been beaten as a result of massive investments in online retail, aggressive marketing, and the rapid uptake of new shopping channels like mobile shopping and Instagram. Further, the report found that most established online retailers have enhanced their digital presence, and refined their fulfilment models, while many traditional ret...