MTN is said to be considering the sale after the online retailer's shares have surged 142% in 2020
MTN is planning to sell part or all of its $243m interest in Jumia Technologies as Africa’s biggest wireless carrier looks to pay down debt and enter new markets, according to people familiar with the matter.
Called Africa’s Amazon, Jumia operates in 14 African countries including Nigeria and Ivory Coast where the US giant still lacks distribution infrastructure. The company — headquartered in Germany and run by its two French founders, Sacha Poignonnec and Jeremy Hodara — had dropped below its initial public offering price in 2019 after improper transactions in its Nigeria business were uncovered.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MTN Zakhele Futhi in talks with MTN about lack of interim dividendMTN’s decision not to declare a dividend could affect the ability of the listed special empowerment vehicle to pay scheduled dividends
Read more »
WATCH: Stock pick — MTNImtiaz Suliman from Sentio Capital talks to Business Day TV about his stock pick of the day
Read more »
MTN Zakhele Futhi in talks with MTN about lack of interim dividendMTN’s decision not to declare a dividend could affect the ability of the listed special empowerment vehicle to pay scheduled dividends
Read more »
Scientists say it's time to think about lifting the booze ban to save jobsSA’s alcohol industry has welcomed a call by the South African Medical Research Council (SAMRC) for the government to start planning to lift the ban on alcohol sales
Read more »
Over 1,400 Pick n Pay workers take severance packagesPick n Pay says government’s decision to ban the sale of alcohol and tobacco has also been detrimental to the business.
Read more »