As a move to mark its final exit from Nigeria, Kinnevik has just confirmed that it has exited its stake in iROKO, a video streaming and TV company. As contained in its annual report, the Swedish tech investment company has shaded off Nigeria from its coverage and portfolio. Kinnevik has […]
Africa’s most valuable company, Naspers Limited has recently cashed-out about 2% of its stake in Tencent Holdings, China’s largest Internet company where it held about 35% stake. The decision to cash out about $6 billion from its Tencent stake is very instructive. Naspers only invested about $32 million in Tencent […]
Africa’s most valuable company, Naspers Limited said it is cashing out about 190 million units of its shares in Tencent Holdings. Naspers said it will sell the shares to investment funds to raise about $10.6 billion in value. Naspers said in a statement that it will sell: Shares, equal to approximately […]
Owners of Jumia, Rocket Internet, is said to be putting together an initial public offering to exit the company. Rocket is said to be looking at listing about 200 million euros worth of shares which is approximately $245.7 million using real-time exchange rate. According to people with the knowledge of […]
As expected the sudden announcement of Konga acquisition by Zinox Group is bound to generate debates, claims, counter-claims and revelations. However, some of the facts coming out are either interesting or worrying. Top of the list is the unconfirmed news that Zinox Group paid a paltry $10 million to Kinnevik, […]
South Africa’s Naspers Limited said it led a $14.4 million Series A investment in Joymode, an innovator in the movement from ownership to access. The company said the fund was raised through Naspers Ventures division with participation from previous investors. Also announced today, Mike Katz of Naspers Ventures, has joined […]
One of Nigeria’s largest eCommerce company, Konga, has carried out more job cuts in the first few days of this year. This was according to people with the knowledge of the matter. According to sources and some of the affected staff of Konga, not less than 70 people were laid […]
South Africa-based Naspers said PayU, its fintech division, will lead a USD115 million investment round in Remitly, an American digital remittance company. Remitly’s current investors include Stripes Group, DFJ, and DN Capital will participate in the round. Laurent le Moal, PayU CEO, will join Remitly’s board of directors following the […]
After its debut through an initial public offering, IPO, Naspers said it has initiated a transaction to obtain 22,359,857 shares of Delivery Hero stock. Naspers if buying the stake from Rocket Internet for €660m (US$775m) at a price of €29.50 per share. The purchase increases Naspers’ stake to 23.6% and positions […]
Luno, a Bitcoin exchange and wallet provider backed by Naspers and other investors has just raised USD9 million Series B round, led by one of Europe’s leading venture capital firms, Balderton Capital. In a message shared on Naspers’ website by Marcus Swanepoel, Co-founder and CEO, Luno, the startup will be using […]