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Jumia’s listing great exit plan for MTN, Rocket Internet

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Rocket Internet and MTN’s Jumia has finally listed on the New York Stock Exchange (NYSE:JMIA), in a bid to seek more investors to expand its reach across Africa.

Dubbed Africa’s Amazon, Jumia Technologies AG listed 17.6 percent of its shares on the NYSE at $14.50 per share of its 13,500,000 ADSs to raise upwards of $197m on its first day of trading.

Mastercard Europe SA also agreed to purchase €50.0 million of its ordinary shares in a concurrent private placement at a price per share equal to the euro equivalent of the initial public offering price per ordinary share.

Firms that stand to gain out this Berlin-based firm include German start-up incubator Rocket Internet and its biggest shareholder MTN Group and more recent investors such as Pernod Ricard and Mastercard.

Though Jumia’s share price started at $14.50, it had soared by 75% on their first day of trading to $25.46 valuing the company at more than $1.9bn.

Founded in 2012, Jumia is currently active in 14 African countries with more than 81,000 active sellers transacting online with millions of consumers. The e-commerce platform directly employs more than 5,000 team members in Africa.

“This achievement has been made possible thanks to the hard work of our teams, the trust of our consumers, as well as the commitment of our sellers and partners. All stakeholders deserve credit for this milestone, and we are just at the beginning of a long and great journey. We are going to continue to focus on our mission and to work even harder to help consumers, sellers, partners and all stakeholders benefit from this technological revolution.”said Sacha Poignonnec and Jeremy Hodara, co-founders and co-chief executives. 

According to reports, after the New York listing, MTN is set to IPO its Nigeria unit in Lagos to clear part of a $1 billion regulatory fine in 2016. Rocket Internet owned 21.74 percent of Jumia as of the end of December while MTN Group held 31.28 percent. The entry of Pernod Ricard and Mastercard might have diluted Millicom International, AXA Africa Holding and Goldman Sachs but they too stand to gain after this IPO.

Founded in 2012, Jumia has been bleeding money. Its revenues stood at 130.6 million euros in 2018 compared to 94 million euros in 2017 but the firm’s losses rose from 165.4 million euros in 2017 to 170.4 million euros in 2018. The firm had accumulated losses of 862 million euros by the end of last year. The IPO is the only sensible way out for MTN and Rocket Internet and other shareholders.


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President Uhuru Kenyatta’s Easter message

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Easter message of goodwill and best wishes to Kenyans by H.E Uhuru Kenyatta.

 Fellow Kenyans,

Easter is here with us once again and I am glad to send you this message of greetings and goodwill, wishing you all a happy and blessed Easter festivities.

Easter is a time for reflection on our relationship with God, especially for us Christians. As we rejoice and celebrate in remembrance of the death and resurrection of our Lord Jesus Christ, let us also remember the less fortunate amongst by showing compassion to the needy.

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As Government, we recognise the difficulties being faced by Kenyans faced with drought in parts of the country and assure that we are working to mitigate the situation.

During this long weekend, be safe and remain secure. For those of us travelling to different parts of the country to be with our loved ones, please observe road safety precautions at all times.

Equally important and in the spirit of community policing, let us stay vigilant in our neighbourhoods and ensure that our families and our neighbours are safe. Let us all be the Biblical brother’s and sister’s keepers.

Over this Easter period, our Huduma Namba registration centres will remain open, giving those who may have been too held up a chance register.

In just 16 days of active registration, I am proud to announce that an impressive 11 million people have registered for their Huduma Namba.

Huduma Namba is Kenya’s first digital integrated record of citizen data which gives the Government a robust platform to deliver first class service. It moves the country from a manual, scattered and cumbersome data management regime to an organised digital service delivery platform.

The National Integrated Identity Management System (NIIMS) guards the integrity of our data much better than the manual system we are moving away from.

I assure Kenyans and all people residing in our beautiful country that we are taking additional measures to ensure the information they give is safe. Yesterday, the Cabinet approved a progressive draft Data Protection Policy and Bill.

Fellow Kenyans living in the Diaspora, I am pleased to inform you that the Huduma Namba registration begins on May 6th for a period of 45 days at our Embassies and Consulates.

May this Easter bring all of us joy, peace and fulfilment.





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Mali government resigns as violence surges

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Protests took place this month against the government and international forces’ failure to tackle rising violence in Mali

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The prime minister of Mali and his entire government have resigned, following an upsurge of violence in the country.

On Wednesday, a motion of no confidence was submitted as MPs blamed Prime Minister Soumeylou Boubeye Maiga for failing to handle the unrest.

Last month, scores of herders were killed by a rival ethnic group.

President Ibrahim Boubacar Keita said in a statement that he accepted Mr Maiga and his ministers’ resignation.

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“A prime minister will be named very soon and a new government will be put in place after consultations with all political forces,” the statement said.

Mali has been struggling to control violence since Al-Qaeda-linked Islamist extremists gripped the desert north of the country in 2012.

Despite an ongoing military drive and a 2015 peace agreement, jihadists still dominate areas huge areas of the country, having migrated from the north to the more heavily populated centre of the country.

The government has come under increasing pressure over its inability to restore stability, particularly after the massacre of 160 Fulani herders in the Mopti region.

Armed with guns and machetes, the attackers appeared to be members of the Dogon ethnic group, which has a long history of tension with the nomadic Fulani people.

The country was shocked by the killings and tens of thousands of people protested on the streets of the capital Bamako on April 5.

The president said in a televised address on Tuesday that he had “heard the anger”.

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How Gaming in the Classroom Prepare Children for Life

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Do you live in a
surveillance state? If so, it is possible that you have children. Teaching
children how to accept their fate can be extremely difficult. In the modern
world, adults and children are often monitored without their knowledge. Whether
you live or visit an area with constant surveillance, it is crucial to prepare
your children
for the undertaking in advance. If your child is
school-age, you are in luck because schools are now utilizing gaming for this
exact purpose. Below, you will discover the benefits of gaming for
surveillance.

Teaches About Surveillance

Even though some
children are familiar with surveillance, many of them cannot comprehend its
true meaning. Gaming is now utilized in classrooms to help teach children
exactly what surveillance is and how it world. Some schools are utilizing games
that monitor their students’ activities online. These games monitor the
activities of students and report the findings back to the staff. While this
may appear to be a strange way of teaching children about surveillance, it has
proven to work very effectively.

Teaches Awareness

While some
schools never reveal their surveillance activities to parents or students,
there is always the risk of them finding out. When children suspect that they
are being surveilled, they become suspicious. It really depends on the child to
whether or not they reveal their suspicions to their parents. Over time, these
children will become more aware of their schools’ surveillance activities. This
not only prepares children for mass surveillance, but also teaches them how to
accept it.

Parent Involvement

Most parents
want to be involved in school activities. And, if the school is monitoring and
recording their child’s online and offline activities, they want to know about
it. Gaming platforms, such as Sbobet88,
protect children from risky online activity by banning them. It is vital to
understand that parents being involved are going to make things so much
different. When parents are involved, children are more likely to get involved.
In return, this is going to increase the likelihood that the children are going
to play along and get ready for the upcoming surveillance state.

Technology Everywhere

When technology
is everywhere, you can guarantee that the children are going to become more
comfortable with it. This is going to create big problems. The children are
going to feel like the technology is just a part of the process. It will
condition them to believe that technology is fine and perfect. This is far from
the truth. Nevertheless, the games will encourage them to believe it and it
will ultimately allow them to accept being monitored around the clock by
cameras and other technological
devices
.

Summary

At the end of
the day, a surveillance state is coming. It is just a matter of time. Look at
schools. Games are becoming more common in the school place and this is just
one way the government is preparing children for it. With that being said,
parents should be concerned about the types of games that are being used in the
school systems.


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