MTN to List Jumia

With all the legal issues that MTN has been through over the last two years, we sometimes forget the scope of their operations. The MTN group has exposure to a number of tech businesses, for example they own a stake in Irans equivalent to Uber.

Another of their investments, this time from Nigeria, is looking to IPO in New York which could raise as much as $600 million for MTN - MTN said to prepare share sale of African unicorn Jumia. At current exchange rates that is just over R8 billion which works out to 5% of the MTN market cap, so not insignificant.

Many of you probably haven't heard of Jumia before but have you heard of Zando? The South African subsidiary is the online store Zando; I wonder if MTN employees get staff discounts?