TechCabal Daily – MTN is very likely to sell its $243 million Jumia stake

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Following a 142% rise in Jumia’s shares, MTN is reportedly looking to sell its stake in the e-commerce giant. The telco has been disposing of non-core assets as part of its strategy “to reduce debt and drive future growth”. Asides Jumia, it has also marked its stake in IHS Towers as a non-core asset. MTN has a 29% stake in IHS Towers and its Jumia asset is valued at $243-million.

Reports about MTN selling its Jumia asset have been around for some time. In 2018, before Jumia’s IPO and shortly after the IPO, there were news reports that the telco was considering selling off its stake in the e-commerce company. It has not happened so far. However, it seems like a perfect time to sell in light of
Jumia’s stock market woes in the past year and given that it briefly regained unicorn status in July. Another major backer, Rocket Internet sold its Jumia stock in April.

MTN recently made about $802 million from selling some of its assets including its towers holdings in
Ghana and Uganda which it sold to American Towers. It is now seeking an operating license in Ethiopia, where the government currently dominates the telecoms market. It is one of the largest markets yet to liberate its telecoms industry that is now planning to do so.

Doubt is something women encounter often in consultation rooms. There’s a long winding history of dismissing their physical ailments as a by-product of a psychological affliction that has not really gone away.

The 4th and 5th-century studies of Plato and Hippocrates attributed women’s illnesses to a “wandering womb” that traversed a woman’s body wreaking havoc on her organs. By the 19th century, driven by theories postulated by scientists like Freud, hysteria had become a predominantly female malady with more theories arguing that it was indeed a psychological rather than a physical one.

“I remember the very first time I went to the hospital in Bradford,” Journalist Nana Aisha Salaudeen told TechCabal. She was experiencing a sharp pain
in her abdomen at the time. “The doctors were dismissive and asked if it wasn’t because I was drinking too much water. I would know if I was drinking too much water,” Salaudeen added.

She would later return to the same hospital with data collected from a simple habit tracking tool about how often she urinated. This time, she finally captured a doctor’s attention and got a proper diagnosis.

In this piece, Kay shares Salaudeen’s story, highlighting the struggle women face getting doctors to listen and how simple digital tools can help.

Ghanaian-based tech talent network, Africa Foresight Group (AFG) has raised $700,000 in seed funding. The round was led by Consonance Investment Managers and GFH Holdings. AFG will use the money to aid its Africa expansion plans.

AFG was founded in 2016 and it provides a platform that offers access to freelance management consultants. Led by an all-women management team, its proprietary technology platform
matches teams with open project opportunities, manages performance data, and supports the invoicing and payments process, amongst others.

Today, AFG has more than 100 consultants in its network and has completed over 140 engagements within the past four years.