Ecommerce startup Jumia files for IPO

Nigeria-based ecommerce startup Jumia has filed for an IPO on the New York Stock Exchange, according to TechCrunch. The valuation, share price and timeline for public stock sales will be determined over the coming weeks. Founded in Lagos in 2012 with Rocket Internet backing, the startup operates multiple online verticals in 14 African countries, spanning Ghana, Kenya,... Continue Reading →

12.7 mln Nigerians use instant payments

12.7 million Nigerians have driven the volume and value of instant payment transactions in the country, according to New Telegraph. The instant payment channels for interbank transfers include mobile app, Unstructured Supplementary Service Data (USSD), and internet banking. In 2018, NGN 80.4 trillion (USD 0.22 trillion) changed hands through the NIP channel compared to NGN... Continue Reading →

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