Day: February 15, 2019

From Wakanda to reality: Building mutual prosperity between African-Americans and Africa

 

By Landry Signé and Ambassador Linda Thomas-Greenfield

This year’s Black History Month is being celebrated with a higher sense of African pride, given the unprecedented enthusiasm generated by Marvel’s “Black Panther” last year and increased conversations about a better representation of minority groups.

“Wakanda”—a fictitious, prosperous, “futuristic, powerful, and proud African nation”—salutes black culture by “shedding light on black excellence.” After the movie’s release, many in black America—and across ethnicities—and around the world are wondering how to turn this fiction into reality.

During the hype of “Black Panther,” we both were giving talks on how to unlock Africa’s potential to African-American professionals, community, and business leaders. Many of them asked us how they could help make Africa as successful as the imaginary Wakanda. In other words, where are the opportunities to develop mutually beneficial relations between Africa, African Americans, and the United States?

We propose strategies focused on three themes: tourism in Africa; trade and investment in and with Africa; and knowledge, innovation, and technology sharing to improve U.S.-Africa relations.

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How Jumia’s planned listing on New York Stock Exchange is strategic for MTN, Rocket Internet

Nigeria headquartered online retail giant, Jumia is mulling a listing in America. It appears the efforts of Rocket Internet to cash out on Jumia will finally pay off as the eCommerce giant is planning to launch its Initial Public Offering (IPO) this year on the New York Stock Exchange (NYSE).

As reported by Bloomberg, the planned listing could value the company at $1.5 billion. The move to have the company listed on the NYSE raises a couple of questions, one of which is about the choice of New York and not any of the African countries Jumia operates in.

MTN Group — the major stakeholder of the company — is looking forward to raising $600 million from the offering, having revealed plans to sell its 40% stake in the company last year.

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