Technext Technext
  • Home
  • Stories
    • Startup Review: Muster Helps You Find Verified People to Split Apartment Cost With
      Startup Review: Muster Helps You Find Verified People to Split Apartment Cost With
      12 hours ago 0
      59
    • Nigerians Spent Over $60 Million on Mobile Apps in 2020 – APP ANNIE
      Nigerians Spent Over $60 Million on Mobile Apps in 2020 – APP ANNIE
      15 hours ago 0
      99
    • Major Reasons Why Nigerians Don’t Read Terms & Conditions and How Service Providers Can Help
      Major Reasons Why Nigerians Don’t Read Terms & Conditions and How Service Providers Can Help
      17 hours ago 0
      66
    • Tech Events this Week: Startup Guide Accra, Climate Change in West Africa and Others
      Tech Events this Week: Startup Guide Accra, Climate Change in West Africa and Others
      24 hours ago 0
      90
    • Social Media Roundup: #InternetShutdownUganda, Bobi Wine, #BussItChallenge and Other Trending Stories
      Social Media Roundup: #InternetShutdownUganda, Bobi Wine, #BussItChallenge and Other Trending Stories
      3 days ago 0
      161
    • Lupin, Bridgerton; Top 5 New Netflix Series to Watch This Week
      Lupin, Bridgerton; Top 5 New Netflix Series to Watch This Week
      4 days ago 0
      128
    • Samsung Unveils Galaxy S21  Series, Announces Ebuka as Brand Ambassador at its Unpacked Event
      Samsung Unveils Galaxy S21 Series, Announces Ebuka as Brand Ambassador at its Unpacked Event
      4 days ago 0
      147
    • Bolt Launches Ride-hailing Service in Ado-Ekiti and Bauchi, Now in 14 Nigerian States
      Bolt Launches Ride-hailing Service in Ado-Ekiti and Bauchi, Now in 14 Nigerian States
      4 days ago 0
      123
    • How to Register Your Company Through the New CAC e-Registration Portal for Businesses and Individuals
      How to Register Your Company Through the New CAC e-Registration Portal for Businesses and Individuals
      4 days ago 0
      217
  • Features
    • 5 Tips to Make Your Business More Popular on Social Media
      5 Tips to Make Your Business More Popular on Social Media
      6 days ago 0
      155
    • Analysts Forecast Bitcoin to Hit $100k in 2021, But is This Really a Good Time to Start Buying?
      Analysts Forecast Bitcoin to Hit $100k in 2021, But is This Really a Good Time to Start Buying?
      7 days ago 0
      314
    • Top 5 Most In-Demand Tech Jobs for 2021 — and Skills Required for them
      Top 5 Most In-Demand Tech Jobs for 2021 — and Skills Required for them
      2 weeks ago 0
      372
    • Financial Strategies for Surviving 2021 with Ayo Akinmade, Vice Chairman, Regus
      Financial Strategies for Surviving 2021 with Ayo Akinmade, Vice Chairman, Regus
      2 weeks ago 0
      342
    • ‘Expect Aggressive Expansion in 2021’- PlentyWaka’s Johnny Enagwolor on Surviving 2020 and What the Future Holds
      ‘Expect Aggressive Expansion in 2021’- PlentyWaka’s Johnny Enagwolor on Surviving 2020 and What the Future Holds
      3 weeks ago 0
      393
    • After a Poor 2020, Here are the Top Cinema Trends to Watch Out for in 2021
      After a Poor 2020, Here are the Top Cinema Trends to Watch Out for in 2021
      3 weeks ago 0
      343
    • “How we survived 2020” with Fehintolu Olaogun, CEO, CredPal
      “How we survived 2020” with Fehintolu Olaogun, CEO, CredPal
      3 weeks ago 0
      374
  • Reviews
    • Nigerians Spent Over $60 Million on Mobile Apps in 2020 – APP ANNIE
      Nigerians Spent Over $60 Million on Mobile Apps in 2020 – APP ANNIE
      15 hours ago 0
      99
    • Tech Events this Week: Startup Guide Accra, Climate Change in West Africa and Others
      Tech Events this Week: Startup Guide Accra, Climate Change in West Africa and Others
      24 hours ago 0
      90
    • Lupin, Bridgerton; Top 5 New Netflix Series to Watch This Week
      Lupin, Bridgerton; Top 5 New Netflix Series to Watch This Week
      4 days ago 0
      128
    • Samsung Unveils Galaxy S21  Series, Announces Ebuka as Brand Ambassador at its Unpacked Event
      Samsung Unveils Galaxy S21 Series, Announces Ebuka as Brand Ambassador at its Unpacked Event
      4 days ago 0
      147
    • Ditching WhatsApp for Signal? Here Are 5 Things You Should Know
      Ditching WhatsApp for Signal? Here Are 5 Things You Should Know
      5 days ago 0
      188
    • HostNowNow Releases New Staging Server that Enables Users Test Softwares and Prelaunch Web Projects
      HostNowNow Releases New Staging Server that Enables Users Test Softwares and Prelaunch Web Projects
      6 days ago 0
      128
    • Samsung Unveils Galaxy A12, A02 and A02s, Announces Joeboy as Brand Ambassador
      Samsung Unveils Galaxy A12, A02 and A02s, Announces Joeboy as Brand Ambassador
      6 days ago 0
      188
  • Women in Tech
  • Videos
  • Contact Us
Go to...

    MTN Group May be Planning to Sell off its 40% Stake in Jumia

    David AfolayanDavid Afolayan
    August 16, 2018
    MTN Group May be Planning to Sell off its 40% Stake in Jumia

    There are indications that foremost Telecoms company, MTN Group (the parent company of MTN Nigeria) may be contemplating disposing of its 40% equities in the renowned e-Commerce company, Jumia. This is according to a report by popular business news platform, Bloomberg.

    According to Bloomberg, the African largest wireless carrier may be exploring a sale of the shares through an initial public offering on the Nasdaq or New York Stock Exchange, an inside source was quoted to have said. According to the source, the other shareholder, German investor, Rocket Internet SE may also be open to selling its equities too.

    The value of the African Largest online retailer, Jumia has been valued at $1bn (one billion dollars). Jumia, which has its presence in about 14 African countries has experienced a growth in sales by between 70 per cent and 90 per cent annually since its inception in 2012.

    A spokeswoman was said to have refuted the claim in an email response by saying “ MTN currently has no plans to dispose of its investment in Jumia in the short term” while the representatives of Rocket have declined to comment.

    Why the sale?

    The decision to trade off 40% stake in a $1bn worth enterprise with presence in 14 African country and a record consistent annual growth raises a lot of questions. Why will MTN decide to sell off its equities when Jumia is not doing badly, after all?

    According to a report by Nairametrics, this may be owing to the company’s debt weights and the “constant need of money to offset the said debts”. According to it, the company is yet to pay up the ₦330 billion fine imposed on it by the Nigerian Communications Commission (NCC), neither has it carried out its highly anticipated initial public offering on the floor of the Nigerian Stock Exchange (NSE).

    MTN’s debt profile increased to $4.8 billion as of the end of June 2018, compared with $3.9 billion six months earlier. The rising liabilities contributed to a 27% share-price slump (this year) as indicated in the company’s half-year report.

    Recall that we reported that MTN Nigeria signed a ₦200 billion loan deal with 12 banks in efforts to raise money and expand its business. This may be one of its pressing options to meet its obligations too.

    In Conclusion

    If the speculated eventually happens, that will not spell the end Jumia. The company still has the likes of Goldman Sachs Group Inc., Millicom International Cellular SA and Orange SA as shareholders and a robust market to hold on to.

    Note that Jumia was established six years ago in Lagos Nigeria, by two French entrepreneurs – Jeremy Hodara and Sacha Poignonnec. MTN operates in 21 countries across Africa and the Middle East. Nigeria is its biggest market with about 55 million customers.


    If you’d like to get featured on our Entrepreneur Spotlight, click here to share your startup story with us.


    SUBSCRIBE

    Get latest Technology news, reviews, business-related content with a deliberate emphasis on the African narrative and insightful analysis in Nigeria – straight to your inbox.


    Comments

    Share :
    • Facebook
    • Twitter
    • Google+
    • Pinterest
    • Linkedin
    • Email
    David Afolayan

    David Afolayan

    David is a tech Writer and Digital communications strategist. He is a keen observer of topical developments in the global tech space. He follows the news, gets the details, reads between the lines and points out what is evident but not obvious.

    Facebook Now Holds UEFA, Serie A, and La Liga Streaming Rights. Should TV Channels be Worried?
    Next article
    Facebook Now Holds UEFA, Serie A, and La Liga Streaming Rights. Should TV Channels be Worried?
    Publiseer Gets Accepted Into the UCT Solution Space Venture Incubation Programme
    Previous article
    Publiseer Gets Accepted Into the UCT Solution Space Venture Incubation Programme

    Related Posts

    • Stories 12 hours ago

      Startup Review: Muster Helps You Find Verified People to Split Apartment Cost With

      Startup Review: Muster Helps You Find Verified People to Split Apartment Cost With
      Reviews, Stories 15 hours ago

      Nigerians Spent Over $60 Million on Mobile Apps in 2020 - APP ANNIE

      Nigerians Spent Over $60 Million on Mobile Apps in 2020 – APP ANNIE
      Stories 17 hours ago

      Major Reasons Why Nigerians Don't Read Terms & Conditions and How Service Providers Can Help

      Major Reasons Why Nigerians Don’t Read Terms & Conditions and How Service Providers Can Help
    • Reviews, Stories 24 hours ago

      Tech Events this Week: Startup Guide Accra, Climate Change in West Africa and Others

      Tech Events this Week: Startup Guide Accra, Climate Change in West Africa and Others
      Stories 3 days ago

      Social Media Roundup: #InternetShutdownUganda, Bobi Wine, #BussItChallenge and Other Trending Stories

      Social Media Roundup: #InternetShutdownUganda, Bobi Wine, #BussItChallenge and Other Trending Stories
      Reviews, Stories 4 days ago

      Lupin, Bridgerton; Top 5 New Netflix Series to Watch This Week

      Lupin, Bridgerton; Top 5 New Netflix Series to Watch This Week

    Bitcoin Recent Prices

    Brandest

    Sign up for Newsletters

    Popular News

    • Tanzania’s Kilimo Fresh Wins $50,000 MEST Africa Challenge 2020 Prize
      Tanzania's Kilimo Fresh Wins $50,000 MEST Africa Challenge 2020 Prize
      5 months ago 0
    • Nigeria’s Releaf and Foodlocker Emerge Winners of $120k AfDB AgriPitch Competition
      Nigeria's Releaf and Foodlocker Emerge Winners of $120k AfDB AgriPitch Competition
      2 months ago 0
    • Former Nigerian ICT Minister, Dr Omobola Johnson, Appointed as World Wide Web Foundation Director
      Former Nigerian ICT Minister, Dr Omobola Johnson, Appointed as World Wide Web Foundation Director
      September 3, 2018 0
    • Nigerian Fintech Startup, Social Lender Qualifies for the 2019 MIT Inclusive Innovation Challenge Finals
      Nigerian Fintech Startup, Social Lender Qualifies for the 2019 MIT Inclusive Innovation Challenge Finals
      July 30, 2019 0
    • Nollywood or Hollywood, Who Won the Battle in February as Moviegoers Spent N412m in Nigerian Cinemas
      Nollywood or Hollywood, Who Won the Battle in February as Moviegoers Spent N412m in Nigerian Cinemas
      11 months ago 0

    Follow Us

    Latest Tweets

    • technextdotng RIP David Ntekim. Our thoughts are with your family. #Tribute #RIP https://t.co/2lBlmyGfZp
      about 10 hours ago
    • technextdotng New post: Startup Review: Muster Helps You Find Verified People to Split Apartment Cost With https://t.co/CpNRblrcj7
      about 11 hours ago
    • technextdotng Mobile adoption witnessed a boom in 2020. According to the recently released State of Mobile by @appannie, over 640… https://t.co/MNP5f4p4lU
      about 14 hours ago
    • technextdotng When was the last time you read through all the terms & conditions (T&C) guiding the operations of an app or servic… https://t.co/jFtHnP0uxr
      about 14 hours ago

    Instagram

    technextdotng

    Technext.ng is the go-to site for news, reviews and insightful analysis in the Nigerian tech space.
    http://ow.ly/ayTM30mSlGS

    RIP David Ntekim. Our thoughts are with your famil RIP David Ntekim.
Our thoughts are with your family.

#Tribute #RIP
    A dream is your creative vision for your life in t A dream is your creative vision for your life in the future.
You must break out of your current comfort zone and become comfortable with the unfamiliar and the unknown.

#WeAreTechnext #MondayMotivation
    Our recent poll result shows that most of our vote Our recent poll result shows that most of our voters (and WhatsApp users) are unfazed by the new policy update and won't be leaving the platform.

Will you?
#WhatsApp #Policy
    50% of our voters think #bitcoin will surpass $100 50% of our voters think #bitcoin will surpass $100k this year?

Do you think so?
#Cryptocurrency #Crypto
    Live at the new @samsung_nigeria A Series launch. Live at the new @samsung_nigeria A Series launch.

And yeah, @joeboyofficial pon deck!

Tag when you see him.

#Samsung #samsunggalaxy #smartphone #Nigeria
    While talking, do not forget to start doing that s While talking, do not forget to start doing that same thing.
It’s just like putting what you are saying into practice.

Let’s just say THEORY/PRACTICAL
#WeAreTechNext #MondayMotivation
    Load More... Follow on Instagram

    Random News

    • Andela Set to Officially Launch its Ugandan Office Today!
      Andela Set to Officially Launch its Ugandan Office Today!
      July 18, 2018 0

      Andela, a tech training and placement company, has continued to lay its mark across Africa as it would be launching ...

      Read More
    Copyright 2020 technext.ng | Privacy Policy | Media Policy