Africa-focused e-commerce company, Jumia has released its financial report for the second quarter (Q2) of 2019. This is the company’s second financial report since it became a publicly-traded company, and there are a lot of sides to the earnings report. Here’s what we know.
The AfCFTA faces many hurdles on its road to success and a crucial one is the rule governing rules of origin: an important but complicated topic that has implications for manufacturing businesses.
Gokada, the popular bike hailing startup, has stopped all mobility operations for the next two weeks. In a Medium post, CEO Fahim Saleh, announced that the Gokada app will be temporarily disabled and all bikers will be off the road during this period.
Nigeria-based OPay has closed a new $50 million funding round, the largest for any Nigerian tech startup so far in 2019. The company will use the new funding to deepen its roots in the Nigerian market for all its digital businesses including ORide and OFood. It also has plans to expand to other African markets.
Nigerian medical startup 54gene has secured a $4.5 million seed funding barely 7 months after it launched. The sum was raised from investors some of which include YCombinator, Fifty Years, Better Ventures, KdT Ventures, Hack VC and Techammer.
Founders Factory Africa (FFA) has partnered with Netcare run an acceleration and incubation program for healthcare startups. Both firms will provide funding and support to more than 35 healthcare startups across Africa.