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Jumia does have competition from home grown African companies. A good example is [1]Hubtel. The difference between Jumia and its competition is funding. They ma
by deesep 7y ago
Jumia does have competition from home grown African companies. A good example is [1]Hubtel. The difference between Jumia and its competition is funding. They managed to reach a billion dollar valuation thanks to funding rounds from AXA, a french insurance company and Goldman Sachs. There are very bright developers here who have awesome ideas but getting access to funding can be very difficult. That said, technology is helping Africa leapfrog. M-PESA is a service that allows people send money from their phones. It's widely used and developed in Kenya.
I believe in producing what i consume and consuming what i produce but it will be impossible to shut out foreign investment while we build our own.
[1] - https://hubtel.com https://hubtel.com
- externalreality 7y agoForgive me if I sound as if I am against foreign investment. I am not. The degree of control that something like Jumia, a foreign entity, would have over these emerging economies is what is troublesome.
- drivingmenuts 7y agoSo, you want foreign investment, but local control? Then, why, as an investor, invest? Is there some way to guarantee a return, or are you just expecting investors to toss their money in the wind and hope for the best?
- michaelmrose 7y agoMaybe there isn't a reasonable sum of money that is worth trading autonomy for. Certainly not for the sums on offer.