Jumia cashes in on bullish stock trading aims to raise US$400m to finance expansion drive

AFRICA – The New York Stock Exchange listed Africa-focused eCommerce company, Jumia is seeking to raise US$400 million by floating 9 million American depositary shares (ADS). ADS are stocks offered by non-US companies, available to be purchased by US investors. Secondary sales like this are usually done by public companies to finance debt or facilitate growth. The Ecommerce giant with stock trading at US$42.14 on Monday, aims to raise more cash to fund its expansion drive. Jumia listed the ADSs at US$50 per share, but investors could buy these shares at…

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Taxi hailing firm Bolt raises US$180.9m, to launch e-scooters

KENYA – Taxi hailing services company Bolt Kenya, is set to launch e-scooter rental business and expand to smaller towns and peri-urban centres in Kenya after raising US$180.9 million US private equity firm D1 Capital Partners. Bolt Kenya country manager Olaoluwa Akinnusi said the company will expand its network beyond the 16 urban centres it currently operates and introduce the electric scooters. The move comes after Bolt, the global company, headquartered in Tallinn, Estonia received US$180.9 million from private equity firm, D1 Capital Partners, which will also be for invested…

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Jumia extends food delivery service to five more states in Nigeria

NIGERIA – Leading e-commerce platform in Africa, Jumia has launched its food delivery service Jumia Food to five additional states in Nigeria as part of its resolve to expand the growing popularity and thrilling experience of online fast-food services to customers in all Nigerian states. The new route on Jumia Food map are Minna, Benin City, Kaduna, Abeokuta, Kano, and Ilorin. The expansion into the new markets is in response to the organization’s findings which were published in its 2020 Nigeria Food Index report, which indicated that the country’s food and…

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Moroccan B2B e-commerce startup Chari.ma planning expansion after strong growth in Casablanca

MOROCCO – Chari.ma, a Moroccan B2B e-commerce platform that fashions retailers with suppliers is seeking an investment to enable it expand both at home and into other French-speaking African countries such as Tunisia, Algeria, Ivory Coast and Senegal. This follows its strong growth in its launch market of Casablanca, having already signed up 10,000 shops as its clients, reports Disrupt. Launched early last year, the company uses technology to resolve existing supply chain inefficiencies between retailers and suppliers by allowing traditional proximity store owners to order products through and easy…

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