Category Archives: Nairobi

African e-commerce startup Jumia’s shares open at $14.50 in NYSE IPO

Pan-African e-commerce company Jumia listed on the New York Stock Exchange today, with shares beginning trading at $14.50 under ticker symbol JMIA. This comes four weeks after CEO Sacha Poignonnec confirmed the IPO to TechCrunch and Jumia filed SEC documents. With the public offering, Jumia becomes the first startup from Africa to list on a major global exchange. In an updated SEC filing, Jumia indicated it is offering 13,500,000 ADR shares for an opening price spread of $13 to $16 per share, representing 17.6 percent of all company shares. […]

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Africa Roundup: Kenya’s BRCK acquires EveryLayer, Nigeria’s TeamApt eyes global expansion

Kenyan communications hardware company BRCK acquired the assets of Nairobi-based internet provider Surf and its U.S. parent EveryLayer in a purchase deal of an undisclosed amount in February. Based in Nairobi, Surf is a hotspot service provider aimed at offering affordable internet to lower-income segments. BRCK is a five-year-old venture that pairs its rugged Wi-Fi routers to internet service packages designed to bring people online in frontier and emerging markets. With the acquisition, BRCK gains the assets of San Francisco-based EveryLayer and its Surf subsidiary, including 1,200 hotspots and […]

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