Sunday, September 28, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Africa

MTN to Sell Off Stake in Jumia

Tech Gist Africa by Tech Gist Africa
05/02/2019
in Africa, Africa News, News
0 0
0
MTN to Sell Off Stake in Jumia
0
SHARES
Share on FacebookShare on Twitter

Recall that Jumia’s IPO went live on NYSE on the 12th of April 2019. Since then, the African based e-commerce platform has gone on to break new records with an impressive first day run as its stock was priced at $14.5. They eventually closed up at 75%. Jumia’s shares were priced at $14.5, they offered 13.5 million shares for purchase and raised $196 million.

However, MTN Group LTD, one of the e-commerce major share holder has made move to sell up to 50% of its $655 million share in Jumia. The Telco plans to sell in other to raise fund to pay off debts and also venture into new markets. MTN’s 19% stake is predicted to happen before the end of the year.


See also: Jumia Finally Opens on the New York Stock Exchange, Raises $196 Million


The Telco giant will have to endure a six-month lock-up period where they can’t sell their shares. MTN has declared that Jumia’s assets are not central to the services that they provide, and they have announced a 15 billion-rand ($1 billion) disposal plan.

MTN is also looking to sell off their interests in the flight-booking site, Travelstart.co.za and telecommunication masts-operator IHS Towers Ltd. According to a statement from them in March 2019, their net debt rose to 63.5 billion rand from 57 billion rand in 2018, and proceeds from the sale will be used to pay that down. MTN’s shares in Jumia have gained almost 7% since the Jumia IPO, valuing the company at 194 billion rand.

 

More on TechGist Africa:

  • CcHub Partners Enyo to Launch Kids Creativity Play Space in Lagos
  • Huawei Takes Over Data Center and Smart City Projects in Kenya
  • Free Public Wi-Fi Now Available in Kenya, Courtesy of Poa! and Fon
  • Technology in Stories: An Interview with Quadron Studios
  • Find Out How Tizeti Plans to reduce Call Cost by 30-50% in Nigeria
ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a leading online technology and digital media outlet, dedicated to providing latest tech news, product launch, startup news across Africa and sharing simple social media and digital marketing tips for startups, entrepreneurs and business owners.

Related Posts

Rulebase
Funding

Rulebase Secures $2.1M Pre-Seed Funding to Revolutionize Fintech Back-Office Automation

by Tech Gist Africa
09/26/2025
0

Rulebase, a Y Combinator-backed fintech startup, has raised $2.1 million in pre-seed funding to automate back-office operations in financial services....

Read more
SunCulture Kenya

SunCulture, a Kenyan climate-tech startup has secured a $5 million funding

09/26/2025
AGF Visa Foundation

AGF and Visa Foundation Unveil $2M Fund for Women Entrepreneurs in Africa

09/26/2025
Justyol Morocco

Justyol, a Moroccan e-commerce startup has raised $1 million in funding

09/26/2025
Mavryk Network UAE

Mavryk Network Secures $10M to Revolutionize UAE Real Estate with Blockchain Tokenization

09/26/2025
Next Post
Find Out How Tizeti Plans to Reduce Call Cost by 30-50% in Nigeria, MTN to Sell Off Stake in Jumia and More

Find Out How Tizeti Plans to Reduce Call Cost by 30-50% in Nigeria, MTN to Sell Off Stake in Jumia and More

Call for Application: Nokia Open Innovation Challenge, NOIC 2019

Call for Application: Nokia Open Innovation Challenge, NOIC 2019

Instagram Now Testing Feature that Hides Number of Likes and Allows Influencers Sell Items Directly

Instagram Now Testing Feature that Hides Number of Likes and Allows Influencers Sell Items Directly

No Result
View All Result

The Big 5

Food Security

How Technology is Advancing Global Food Security and Reducing Hunger

by Tech Gist Africa
09/26/2025
0

...

Nvidia Abu Dhabi Robotics Lab

Nvidia and Abu Dhabi Institute Launch Middle East’s First AI & Robotics Lab

by Tech Gist Africa
09/26/2025
0

...

MultiChoice

Canal+ has officially completed its $3.17 billion acquisition of South Africa’s MultiChoice Group

by Tech Gist Africa
09/26/2025
0

...

216 Capital & Plug and Play Accelerator

216 Capital & Plug and Play Launch Tunisian Accelerator to Bridge Local Startups to Global Stage

by Tech Gist Africa
09/26/2025
0

...

Funding

Groundbreaking UK Tender Aims to Map East Africa’s Start-Up Financing Landscape

by Tech Gist Africa
09/26/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.