Author: Mustapha Juma

Is Jumia Stock Price the main reason as to why investors are losing out?

Well, Jumia Technologies, the German company that provides e-commerce services to about 12 African counties had its shares surge to more than 500% over the past 12 months, boosting its market cap to about $3.25 billion, or 15 times next year’s sales.

Jumia countries of operation

It is currently operating in Algeria, Cote d’Ivoire, Egypt, Ghana, Kenya, Morocco, Nigeria, Senegal, South Africa, Tunisia, and Uganda.

The rise of Jumia

Jumia impressed investors with its robust gross merchandise volume (GMV) and revenue growth in 2018.

In April 2019, the leading pan-African e-commerce platform officially announced its listing on the New York Stock Exchange.

Founded in 2012, Jumia leveraged technology to deliver innovative, convenient and affordable online services to consumers.

Jumia Growth

After announcing its listing on the New York Stock Exchange, Jumia did well, attracting investors.

However, …

Nigeria’s IROKO Partners Limited media company is working on plans to list on the London Stock Exchange (LSE) Alternative Investment Market.

Reports indicate that the Initial Public Offering (IPO) could be effected in the next 12 months. The company had earlier on announced plans to go public either on the London Stock Exchange or a local bourse on the continent but sought an international presence as this may enable further growth of the industry and the company itself. 

About Nigeria’s IROKO Partners

The company was founded in 2011 by Jason Njoku and Bastian Gotter and boasts the largest online catalog of Nollywood film content globally.

The media company, according to reports, will raise between $20 million and $30 million, valuing the company at $80 million to $100 million. 

While making the announcement in October 2019, the company’s CEO Mr Njoku, however, did not reveal the exact time …

Tata International Africa’s Ghana operation has won a prestigious award.

The company was awarded John Deere Africa’s 2020 Dealer of the Year Award for the category of dealers outside the SADC region.

Jaco Beyers, Managing Director, John Deere Africa Middle East (AME) said that Tata Ghana winning the prestigious award did not come as a surprise following the commitment the Tata team had demonstrated towards the John Deere brand.

“The John Deere Dealer of the Year Award is presented to a dealer that performs over and above in various aspects of the business including delivering value to our customers. With the commitment the Tata team has demonstrated towards the John Deere brand and our customers, it does not come as a surprise that it has won the 2020 award,” says Jaco Beyers, Managing Director, John Deere Africa Middle East (AME).

Beyers noted that other key criteria for the award …

Ghana has revised its Covid-19 protocols for air travellers.

The revision of the protocols, which will affect travellers arriving in Ghana follows the upsurge in the number of Covid-19 cases.

According to the new measures that have been contained in the new amendments to Ghana’s air travel guidelines, Ghanaian residents who depart Ghana and return within a week will not be required to present a COVID-19 test result from the country of departure.

The measures that have already been effected by the Kotoka International Airport will see travellers undergo mandatory COVID-19 testing upon arrival in Ghana at a cost of $50.

Speaking during a live press conference in Accra on Tuesday, February 9, the Minister-designate for Information, Mr Kojo Oppong-Nkrumah noted that Ghanaian passengers who fail to comply with the guidelines would have their passports seized and the passenger handed over to the state security agencies to undergo a 14 …

The African continent has recorded a total of 3,682,261 confirmed cases of Covid-19, 95,591 deaths and 3,212,077 recoveries since the Covid-19 pandemic outbreak.

By early January 2021, COVID-19, caused by the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), had resulted in more than 83 million confirmed cases and more than 1·8 million deaths.

The clinical spectrum of SARS-CoV-2 infection is wide, encompassing asymptomatic infection, fever, fatigue, myalgias, mild upper respiratory tract illness, severe life-threatening viral pneumonia requiring admission to hospital, and death.

At the moment, 34.4 million Covid-19 tests have been conducted in Africa.

As much as we celebrate the high number of recoveries that continue to be recorded daily from various countries, there is a need to take care of those who have recovered from the virus.

Did you know that post-COVID-19 complications could be dire and fatal?

Well, the acting Director of the Ghana Infectious Disease Centre (GIDC), …

On Friday last week, the Central Bank of Nigeria hit headlines after stopping banks and financial institutions from dealing in Cryptocurrency or facilitating payment for Cryptocurrency exchange.

People’s reactions

The move sparked outrage from mostly young people in a country that is the world’s second-biggest user of virtual currencies like Bitcoins.

CBN’s Position on Cryptocurrency 

CBN has, however, come out to explain why it banned cryptocurrency-related transactions in the country.

According to the apex bank, digital currency is used for money laundering and terrorism.

The regulator said this in a statement Sunday, days after affirming a 2017 directive to financial institutions to block cryptocurrency accounts.

In a statement issued by Osita Nwanisobi, acting director, corporate communications, the ban on such transactions will not have any negative impact on fintech.

Also Read: Why Bank of Tanzania is worried about cryptocurrencies

CBN maintained that its position on cryptocurrencies is not a peculiar …

The US-Nigeria relations is expected to grow even stronger after the United States expressed its strong support for the Nigerian candidate in the contest to lead the World Trade Organization.

Former Nigerian finance minister Ngozi Okonjo-Iweala has attracted broad support from member countries in the race for Director-General, with US being the latest to throw her weight behind her candidature.

The endorsement paves the way for unanimous agreement on the post, which has remained vacant for months.

Former President Donald Trump’s administration had backed South Korean trade minister Yoo Myung-hee, preventing a consensus.

However, Yoo on Friday announced her withdrawal from the race.

The US Trade Representative then proceeded to issue a statement saying the administration respects her decision to pull out.

If it is approved, the appointment of Okonjo-Iweala will fill the top post of the global trade watch dog for the first time since last September, after the …

Access Bank Ghana has been ranked as the best company in customer service across all industries in Ghana for the year 2020.

In the research, the Ghana Customer Service Index (GCSI) report shows that the bank had a score of 89.15%.

Over the past three years, Access Bank has been recording a consistent improvement, giving credence to its stated commitment to give customers an experience beyond banking.

The bank in the 2019 report ranked number one in the banking industry, beating other top-tier banks.

In the research conducted in 2020, data was collected from over 3,000 responds in the country’s capital, Accra and two other regions, Kumasi and Takoradi.

The data focused on key metrics such as trust, look and feel, competence, professionalism, ease of doing business, processes and procedures, and customer-focused innovations.

The rest are Engagement with Customers, Complaints and Feedback, and Coronavirus Preparedness.

According to the Institute of …

First herbal medicine for a clinical trial on COVID-19 treatment by Researchers from the School of Public Health at the Kwame Nkrumah University of Science and Technology has been approved.

The medicine dubbed Cryptolepis Sanguinolenta, locally known as Nibima was approved by the Food and Drugs Authority (FDA) on Monday, February 1, 2021.

Mrs Delese A.A. Darko, the Chief Executive Officer of the FDA confirmed the approval in a statement issued in Accra.

The researchers had earlier submitted a clinical application in search of the Covid-19 treatment.

The application was to assess the safety and efficacy of Cryptolepois Sanguinolenta as a potential treatment of COVID-19.

This follows results from lab studies conducted by the KNUST Research team, which points in the direction of possible clinical benefits.

This is, however, not the first time the medicine is being used.

Also Read: Pandemic, AfCFTA wakeup call for Africa’s pharmaceuticals

The roots of …

Benjamin Amenumey is now out after completing his 5-year tenure, and the Universal Merchant Bank (UMB) has a new Chief Executive Officer, Mr Nana Dwemoh Benneh.

But do you really know who Nana is? Well, Nana Dwemoh was on Monday, February 1, 2021 approved by UMB as its CEO following approval from the Bank of Ghana.

Prior to his appointment, Nana Dwemoh had worked briefly with Merchant Bank Limited after his graduate studies.

Board Chairman of UMB, Mr. Ras Boateng said the choice of Nana Dwemoh Benneh as the next CEO of UMB is a step in the right direction in propelling UMB to the next level of success. He also commended the outgoing CEO for his ability to lead and boost staff morale to give off their best.

While accepting the opportunity,  Nana Dwemoh said he was honoured and humbled to have been chosen by the Board to lead …