Millicom News

Nigeria's Cars45 closes $5M round to digitize Africa's used autos markets

Nigeria's Cars45 closes $5M round to digitize Africa's used autos markets

Africa’s startup boom is moving into the used-vehicle space. Nigeria based Cars45.com raised a $5 million Series A round from the Frontier Cars Group, a holding company whose backers include Balderton Capital, EchoVC, TPG Growth, and NEA.

Orange Seeks Africa Deals as Wireless Carrier Eyes Expansion

Orange Seeks Africa Deals as Wireless Carrier Eyes Expansion

Orange SA is seeking deals in Africa as France’s biggest wireless carrier targets the continent as a source of additional revenue growth, according to a company official.

A Jumia office: In 2016, Jumia became Africa's first "Unicorn". Credit: qz.com/Reuters/Akintunde Akinleye

Here's what could happen if Africa's top mobile operators and start-ups work together

Telecom operators across the African continent continue to face significant risks when it comes to revenue growth.

Africa Telecom and Tech IPO Pipeline Swells as Growth Companies Target Public Markets. Credit: sokopay.com

Africa Telecom and Tech IPO Pipeline Swells as Growth Companies Target Public Markets

From Nigerian fintech to East African fiber, several exciting and diverse companies are emerging as IPO contenders in Africa’s rapidly growing Technology, Media & Telecommunications (TMT) sector, according to specialist news provider TMT Finance.

Africa's mobile subscriptions grow fastest globally

Africa's mobile subscriptions grow fastest globally: ITU

Africa experienced the largest growth in mobile subscriptions of any world region in 2014, according to Analyse Africa’s analysis of data from the International Telecommunications Union (ITU).

AIG is the company behind Africa's largest e-commerce company Jumia

Goldman Sachs & MTN to invest $245M in Nigerian e-commerce firm Africa Internet Group (AIG)

Africa Internet Group (AIG) has secured €225 million ($245 million) in funding from investors including US bank Goldman Sachs, South African telecoms giant MTN and German startup incubator Rocket Internet.

Orange Strikes $160M Deal for Tigo DRC

Orange Strikes $160M Deal for Tigo DRC

Orange is set to continue its acquisition spree in Africa with a $160 million takeover of Millicom’s Tigo-branded mobile phone business in the Democratic Republic of Congo.

Jumia is AIG’s main subsidiary and operates in 11 African markets.

AXA buys 8% stake In Africa Internet Group for €75M ($85M) valuing company at over $1B

French insurance giant AXA announced today it is investing €75-million to take a 8% stake in Africa Internet Group (AIG), one of the continent’s largest e-commerce operations.

Mobile in Africa: Still room to grow (Reuters/Mohamed Nureldin Abdallah)

Why this industry leader believes mobile in Africa has not yet reached its potential

Africa is a mobile-first continent. With almost 70% penetration and the innovations around mobile money, the continent is redefining what one can do with a cell phone.

Juliet Anammah, CEO, Jumia Nigeria

Jumia Nigeria appoints Juliet Anammah as CEO

E-commerce giant Jumia has appointed Juliet Anammah as the CEO of Jumia Nigeria.

US President Barack Obama (L) and M-KOPA Solar representative. M-KOPA, headquartered in Nairobi, Kenya, is the global leader of “pay-as-you-go” energy for off-grid customers.

The African tech startup scene has been transformed in just four years

Last month DEMO Africa took place in Lagos, Nigeria, with 30 tech startups pitching to an audience of investors.

Millicom receives a 24% stake in leading African towers company, Helios Towers Africa

Millicom receives a 24% stake in leading African towers company, Helios Towers Africa

Millicom and Helios Towers Africa (“HTA”), one of the leading, independent telecommunications towers companies in Africa, this week announced that Millicom will own 24% of shares in HTA on a fully diluted basis following a shareholding reorganization.

Seed funding for African tech startups is really taking off

Venture capital funding for African tech startups is really taking off - here's why

It is well established that VC investing globally is on the rise, but there is increasing evidence that more of this money is landing in Africa too, as the continent is now deemed a less risky place for investors to put their cash.

Cynthia Gordon, incoming CEO of Millicom Africa

Millicom appoints Cynthia Gordon as CEO of Africa division

Millicom announced the appointment of Cynthia Gordon as Executive Vice President and CEO of its Africa Division.

The Co-Creation Hub Nigeria (CcHUBNigeria) in Yaba, Lagos, Nigeria. Credit: techpoint.ng

Yabacon Valley: Nigeria tech startup enclave springs up in Lagos suburb

At first glance, Yaba is like many other parts of Nigeria’s sprawling commercial capital: a cacophony of car horns and shouting street vendors mingling with exhaust fumes.

Marek Zmyslowski, Managing Director, Jovago

Why you should take chances: Marek Zmyslowski, Managing Director of top African hotel booking website Jovago (Video)

Marek Zmyslowski is the CEO and Managing Director of Lagos-based Jovago. Jovago is an online marketplace that connects travellers across Africa with hotels. Jovago enables customers to secure hotel rooms through an online platform that is faster, cheaper, and easier than the alternative of making a phone call.

January Makamba, Tanzania's Deputy Minister of Communication, Science and Technology

All telcos operating in Tanzania to list on Dar es Salaam Stock Exchange by year-end: January Makamba, Tanzania's Deputy Minister of Communication, Science and Technology

All telecom companies operating in Tanzania will be listed on the local stock exchange by the end of the year, the country’s deputy communication, science and technology minister said on Wednesday, days after a deadline for them to do so had passed.

Employees stand inside a mobile phone store specializing in the sale of Samsung Electronics Co. handsets in Nairobi, Kenya, on April 17, 2013. Photographer: Trevor Snapp/Bloomberg

Europeans Selling Mobile Payments Should Ask Africa for Help

As telecommunications carriers in Europe seek a share of the billions of dollars likely to flow to companies that build mobile-payment systems, Claudio Chiche has a few words of advice: Ask Africa for help.

Dar es Salaam, Tanzania

Millicom and Vodacom bring mobile money interoperability to Tanzania

Millicom’s Tigo Pesa mobile money service is becoming the first in Africa to allow transactions with users of other mobile money networks within the same market.

Easy Taxi Nigeria

Africa Internet Group (AIG), operators of Jumia, Easy Taxi, Lamudi, Carmudi, HelloFood, Kaymu, and Jovago, moves offices to Yaba, Nigeria's Silicon Valley

Africa Internet Group (AIG), the leading internet group in Africa, has moved its office to Yaba, housing six of its ventures in Nigeria – Easy Taxi, Lamudi, Carmudi, HelloFood, Kaymu, and Jovago.

Dealdey raises $5M in series B funding from Swedish investment company Kinnevik. Credit: techcabal.com

DealDey raises $5M in series B funding from Swedish investment company Kinnevik

DealDey, a Nigerian ecommerce website that aggregates discounted goods and services, has raised $5 million in follow-on funding. DealDey’s second round of funding comes from its original investor, Kinnevik.

E-Commerce in Africa finds growing outlet

Browse, click, pay: E-Commerce in Africa finds growing outlet

Young Ghanaian entrepreneur Nana Tamakloe could hardly have a simpler business plan. When people order clothes from his website, he buys the items from stalls and shops in Accra, ships them with DHL and gets paid online.

Stéphane Richard, Chairman & CEO, Orange

Orange said to explore purchase of some Bharti Africa assets to tap explosive growth in sub-Saharan Africa

Orange SA has explored various acquisitions in Africa including assets owned by Bharti Airtel Ltd., as the French company seeks to bolster its business in the region, according to people familiar with the matter.

Jumia

Rocket Internet-Backed Jumia Raises $150M For Its African E-Commerce Business

Rocket Internet-backed Jumia is in the money today, after the Africa-based e-commerce company announced it has raised €120 million ($150 million) in new funding.

Bob Collymore (Left), Safaricom's CEO, and Pamela Patsley (Right), MoneyGram International CEO

MoneyGram joins Western Union to partner with Safaricom, targeting over $1B in remittances sent to Kenya annually

Kenya’s Safaricom (SCOM.NR) and U.S. company MoneyGram International (MGI.O) have agreed a deal for money to be sent from abroad to Kenya through their money transfer services, targeting more than $1 billion sent in remittances every year.

Rocket Internet

German tech incubator Rocket Internet, one of the parent companies of Africa Internet Group (AIG), plans 2014 IPO

Rocket Internet is planning an initial public offering that could value the technology incubator at around €5 billion, or roughly $6.5 billion.

Karl-Johan Sturesson, Head of Business Development, Carmudi Africa

Online auto marketplace Carmudi broadens Africa footprint

It’s been a busy year for Carmudi, a developing-world used-car start-up, and it’s about to get busier.

E-Commerce

MTN to invest $225M in Africa Internet Group (AIG)

MTN Group has announced it will invest approximately EUR 168 million into AIG in the next two to four years after acquiring 33.3% of the JV between Rocket Internet and Millicom.

Konga Mall

Africa's tech start-ups of the future

Silicon Africa is gaining attention, investment, and momentum.

A staff member of on-line retailer Jumia, pushes a cart past shelves at the company's warehouse in Lagos April 10, 2014

Online retailer Jumia expanding into new markets: Uganda, Ghana and Cameroon

Online retailer Jumia, a would-be African Amazon set up by German venture capital firm Rocket Internet, is expanding into three new markets – Uganda, Ghana and Cameroon, the company said on Monday.

Jeremy Hodara, MD, Africa Internet Holdings (AIH)

Now is the perfect time to invest in Africa and its future: Jeremy Hodara, MD, Africa Internet Group (AIG)

HumanIPO caught up with Africa Internet Group (AIG) managing director Jeremy Hodara to discuss opportunities in Africa, AIG strategies and goals on the continent and the achievements of companies such as Jumia and Lendico.

Jumia Fashion Truck, Morocco

How Jumia Is Adapting E-Retail To Africa

I recently spoke with Jeremy Hodara Co-CEO of Africa Internet Holding, about a particularly intriguing subject: How do you adapt online retail to the specific needs of markets that are much less developed than the U.S. or Europe?

Jumia Nigeria, Tapping into Diaspora Dollars

Internet retailer, Jumia Nigeria, tapping into diaspora dollars

Money sent home by Nigeria’s emigrant workers traditionally covers basic expenses like housing, education and medicine.