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Jumia’s Growth Amid Rising Chinese Competition: Africa’s E-Commerce Battle

Jumia, Africa’s homegrown e-commerce giant, is preparing for a major expansion in 2024, despite fierce competition from Chinese retail disruptors like Temu and Shein. The company, which has long been seen as the “Amazon of Africa,” is betting on strategic growth, deeper localization, and improved cost efficiency to maintain its dominance. However, with Chinese platforms bringing their low-cost, high-volume business […]

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AfDB and IFRS Foundation to Boost Sustainable Finance Disclosure in Africa

The African Development Bank (AfDB) and the International Financial Reporting Standards (IFRS) Foundation have signed a letter of intent to enhance sustainability disclosure practices across Africa. This agreement, made during the AfDB’s 2024 Annual Meetings in Nairobi, aims to improve transparency and accountability in the region’s financial markets. Kevin Kariuki, AfDB Vice President for Climate, […]

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