Hey, Kaluka here,
Mauritius-based telecom giant Axian Telecom is reportedly in talks to fully acquire Jumia. This was reported by Bloomberg last week and claims that Axian has already lined up $600 million in financing. This is more than Jumia’s current market cap of roughly $500 million.
This wouldn’t be Axian’s first interest in Jumia. The company recently disclosed an 8% stake acquisition in the eCommerce giant through a U.S. SEC Schedule 13D filing.
Jumia stock jumped between 6–16% on the news, as investors began pricing in the possibility of a premium buyout.
The talks are private and there’s no guarantee the deal will go through but it is highly likely it will.
Is this a lifeline for Jumia or a gamble for Axian? Reply and let me know!
If you’re a founder building something bold, now’s a good time to raise. If you have a startup you want featured on TechArena, let us know through this contact form here.
Startup Funding Rounds
Last week, we tracked 6 funding rounds across Africa that raised about $139.5 million.
🇸🇳 Wave Mobile Money secured $137 million in debt financing from Rand Merchant Bank, Norfund, Finnfund and British International Investment.
🇰🇪 Kenya’s Buupass raised an undisclosed amount from Yango Ventures.
🇦🇴 WiConnect raises $2.5 million in convertible note financing from private investors.
🇿🇦 Optique Optometrists, a South African-based eye care startup, received an unknown amount from Knife Capital in a Series A round.
🇿🇦 Knife Capital invested an unknown amount in Sticitt from South Africa.
🇳🇬 Licore Motion Pictures received $10,000 in funding.
Mergers and Acquisitions
South African Fintech Lesaka Acquires Bank Zero for $61.4M
Active Investors
We had 6 investors who took part in the funding rounds tracked last week:
Rand Merchant Bank
Norfund
Finnfund
British International Investment
Yango Ventures
Knife Capital
Appointments
Afreximbank has appointed Dr. George Elombi as next president and Chairman of the Board
Founder Quote of the Week
“We live in a telecom‑commerce age. Connect people, enable payments, and build logistics and it’s all converging.”
- Hassan Jaber, CEO of Axian Telecom, speaking on why his company invested in Jumia and sees telecom and e-commerce as natural bedfellows
Ecosystem Spotlight
Telecom-Commerce Convergence Across Africa
The potential Axian-Jumia deal highlights a rising trend where telecoms are becoming omni‑digital platforms. After MTN rolled out its own eSIM and delivery services in South Africa, and Safaricom continues to push beyond M-Pesa, the telecom sector is no longer just about connectivity, it is also building end-to-end value chains.
Data Point of the Week
25% - That’s the projected increase in Jumia orders this year, even in the face of stiff competition.
It proves that demand for digital commerce in Africa, even from global competitors, remains strong. The challenge is not demand but whether local players have the scale, infrastructure, and capital to capture it.
Opportunities, Tools & Resources
MEST Africa Launches AI-Focused Startup Program.
African startups invited to apply for EY SDG Accelerator for Women Entrepreneurs.
Other Stories
Safaricom Ethiopia Hits 10 Million Active Users Milestone in Just Four Years.
Kenya and Egypt Discuss Cross-border Partnerships at Regional Startup Roundtable.
How Intron’s African Voice AI Is Transforming Courts, Clinics, and Call Centres.
How PaidHR is Driving Workforce Efficiency and Financial Wellness for African SMEs.
What We’re Reading
“‘Amazon of Africa’ Jumia fights to rebuild investor trust” - Financial Times: Examines Jumia’s efforts to shrink losses (from $206M to ~$50M in 2025).
“AXIAN’s strategic bet on Jumia signals rising confidence in Africa’s digital economy” -*TechCabal* on Axian growing its stake to 9.18% and the strategic rationale behind telecom-commerce integration.
Keep in Touch
Want to connect or suggest something for the newsletter?
Reply to this email.
DM me on X (Twitter) or LinkedIn.
Follow TechArena on X and LinkedIn.
That’s it for this week’s issue of Africa Startup Weekly. If you enjoyed the look into telecom-eCommerce synergy, share it with someone building at the intersection of tech and infrastructure.
Have a tip or story to share? Want your startup featured or your thoughts on this week’s theme? Just reply to this email or submit via our TechArena pitch form.
If this email was forwarded to you, you can subscribe here.