The World Bank invests in digital commerce in Africa
The International Finance Corporation (IFC), a division of the World Bank Group, is investing US$25 million in the equity of Jumia Technologies AG, Africa's largest public e-commerce platform.
The investment is expected to stimulate 60,000 local merchants to become more involved in the digital economy and create about 1,800 direct jobs.
Digital commerce continues to grow rapidly across Africa, and reliable access to online markets, logistics networks and digital payments is becoming increasingly important for entrepreneurs looking to expand beyond local markets.
TECHAFRICANEWS
