BUSINESS NEWS REPORT – APRIL 2019
Every month Africa HR Solutions curates the latest high impact news across Africa. Check the top business news for March 2019.
Volkswagen is testing the future of its global ride-hailing business in Rwanda
Volkswagen is testing the future of its global ride-hailing business in Rwanda. The German car-maker has set up a $20 million operation, expected to produce up to 5,000 vehicles a year and create about 1,000 jobs.
In Kigali, Volkswagen placed a wager on its global operations: ride-hailing services. The project is part of an initiative to use Rwanda to test the future potential of a fully-fledged ride-hailing service.
Facebook is using AI to map exactly where Africa’s fast-growing population lives
The population of Africa is growing rapidly. Today, one out of every six people on Earth live in Africa. In 2050, the United Nations “medium scenario” projections predicts one in four humans will live in Africa and in 2100, more than one in three.
Recently, Facebook announced it is using artificial intelligence to map population density around the world with a new type of world map as part of its Connectivity Lab project.
Drone delivery startup Zipline launches UAV medical program in Ghana
Working with the Ghanaian government, Zipline will operate 30 drones out of four distribution centres to distribute vaccines, blood and life-saving medications to 2,000 health facilities across the West African nation daily.
To date, the startup has raised $41 million from investors, including Sequoia Capital, Google Ventures, Microsoft co-founder Paul Allen, Yahoo co-founder Jerry Yang and Subtraction Capital.
Jumia’s stock is soaring on its first day of trading on the New York Stock Exchange
On the 11th of April, after the ceremonial ringing of the NYSE bell by company executives, Jumia’s first official day of trading on the New York Stock Exchange began.
With its shares priced at $14.5 after initially setting a share price range between $13 and $16, Jumia offered 13.5 million shares for purchase and raised $196 million. Its stock, closed up by 75%.
