Total 19 Posts
MTN Group has announced that it has sold its 18,9% stake in New York Stock Exchange-listed Jumia Group. This ends MTN's journey as an investor in Jumia since 2013.
While challenges to adoption still exist, both in terms of customer preferences and inefficiencies in the market, e-commerce is beginning to generate traction both because of necessity and the presence of enabling technologies.
With several e-commerce companies across the continent having found it difficult to become profitable or even gain traction, the sale by Rocket Internet and possible sale by MTN Group could be interpreted as a vote of no confidence in the continent's e-commerce industry currently.
MTN Group has sold its equity in tower companies in both Ghana and Uganda. The company has also explained that it still does not see Jumia as a long-term strategic asset for the Group.
In his new tell-all book, Chasing Black Unicorns, Marek Zmyslowski sets the record straight on some of the controversy that followed him when running an online travel startup in Nigeria. He also writes about some of the lessons learned as a tech entrepreneur targeting African markets.