Hey Guys,
Welcome to a brand new edition of the Big 5 Daily.
First, on the Big 5, Andrew Left has finally denounced his fraud allegations against Jumia. He did not only denounce but has also bought shares of the e-commerce startup. The stock has continued to climb since his change of mind and with a target price of $50, Jumia will worth $4 billion.
Also, Airtel Africa has reported a 33.9% growth in revenue in the second quarter of 2020. Voice revenue increased by 7%, data by 33.4%, and mobile money by 30.4%. These increments are driven by an increase in customer growth and the expansion of its 4G network.
Google, Standard Bank, and Mastercard are collaborating to digitize SMEs. They will get free access to Standard Bank’s SimplyBlu and free R500 in Google Ads value ran by MasterCard Payment Gateway Services.
Vodacom plans to invest over R320 million to build new LTE Base Stations across South Africa. The project will run from 2020 to 2021 and will provide fast internet and drive digital inclusion in communities.
And finally, Uganda-based KAINO is building homeschooling apps for early childhood development. This e-learning solution will be very helpful for parents that are affected by school closure as a result of COVID-19.
Thanks for reading through your favourite daily gists. Enjoy the rest of your day.