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Jumia to Cease Operations in Non-Strategic Markets

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Jumia Technologies, a leading e-commerce platform in Africa, has announced the planned closure of its operations in South Africa, operated under the brand name Zando, and Tunisia.

Jumia to Cease Operations in Non-Strategic Markets

The closure of these markets will allow Jumia to focus resources on its most promising markets that have a stronger growth potential.

For the year ended December 31, 2023, and the six months ended June 30, 2024, South Africa and Tunisia combined accounted for only 3.5% and 2.7% of total orders, and 4.5% and 3.0% of GMV, respectively.

The strategic decision to close operations in these markets is expected to improve overall operational efficiency across Jumia’s business.

Francis Dufay, Jumia CEO, said, “Since assuming the role of CEO, I have focused on initiatives aimed at strengthening our business and placing us on a path to profitability. After a thorough analysis, we made the difficult decision to close down our operations in South Africa and Tunisia. Both businesses account for a negligible portion of our overall operations.

Furthermore, competitive and macroeconomic conditions in both markets have limited each country’s growth potential and their contribution to our overall business has not aligned with expectations. Decisions like these are never easy and we are extremely grateful to team members in both countries, who worked tirelessly to serve our customers every day. We are also grateful to our suppliers, vendors and logistics partners in these markets. We deeply thank them for their hard work and service to Jumia.”

Jumia believes that exiting these markets and refocusing resources on its other nine markets will leave the company better positioned to accelerate overall growth and further improve efficiency.

The Company expects to cease operations in both South Africa and Tunisia by year end 2024.

 


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E-Business

Huawei Unveils AI Computing System to Challenge Nvidia’s Flagship Product

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China’s Huawei Technologies unveiled an AI computing system on Saturday that an industry expert said rivals Nvidia’s most advanced product, as the company aims to expand its footprint in the country’s booming AI sector.

Huawei Unveils AI Computing System to Challenge Nvidia’s Flagship Product

The CloudMatrix 384 system made its public debut at the World Artificial Intelligence Conference (WAIC), a three-day event in Shanghai, attracting a large crowd to Huawei’s booth with its showcase of cutting-edge AI innovations.

The system has attracted significant interest from the global AI community since Huawei (HWT.UL) first introduced it in April. Industry analysts see it as a direct challenger to Nvidia’s GB200 NVL72, the most advanced system-level offering currently available from the U.S. chipmaker.

In an April article, Dylan Patel, founder of semiconductor research firm SemiAnalysis, stated that Huawei now possesses AI system capabilities that could surpass those of Nvidia.

Huawei staff at its WAIC booth declined to comment when asked to introduce the CloudMatrix 384 system.

A spokesperson for Huawei did not respond to questions.

Huawei has become widely regarded as China’s most promising domestic supplier of chips essential for AI development, even though the company faces U.S. export restrictions.

Nvidia CEO, Jensen Huang told Bloomberg in May that Huawei had been “moving quite fast” and named the CloudMatrix as an example.

The CloudMatrix 384 system features 384 of Huawei’s latest 910C chips and, according to SemiAnalysis, surpasses Nvidia’s GB200 NVL72 in certain performance metrics, despite the latter using 72 B200 chips.

SemiAnalysis attributes this performance advantage to Huawei’s strong system design, which offsets the lower power of individual chips by leveraging a greater number of them and incorporating system-level innovations.

Huawei describes the system as utilizing a “supernode” architecture that enables ultra-high-speed interconnectivity between chips.

In June, Zhang Pingan, CEO, Huawei Cloud confirmed that the CloudMatrix 384 was already operational on Huawei’s cloud platform.


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Transcorp Hotels Delivers Stellar H1 Results, Declares Over ₦1Bn Dividend

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Transcorp Hotels Plc has delivered a stellar performance in the first half of 2025, recording a 60% year-on-year surge in revenue to ₦47.57 billion, up from ₦29.72 billion in H1 2024. Gross profit climbed 71% to ₦36.21 billion, maintaining a strong 76% margin despite inflation and operational headwinds.

The hospitality giant, a subsidiary of Transnational Corporation Plc, also announced an interim dividend payout of ₦1.024 billion — offering ₦0.10 per 50 kobo ordinary share to shareholders.

In a bold move, the company unveiled Nigeria’s largest corporate venue — the 5,000-seat Transcorp Centre — staking its claim as the new leader in event hospitality. Chairman Emmanuel Nnorom described the results as proof of Transcorp Hotels’ transformative strategies and unwavering investor commitment. MD/CEO Uzo Oshogwe attributed the success to relentless execution and a resilient business model.

Transcorp Hotels, renowned for iconic assets like Transcorp Hilton Abuja and its digital platform Aura, says it isn’t just leading Nigeria’s hospitality sector — it’s redefining excellence across Africa.


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Microsoft Servers Hacked by Chinese Groups

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Chinese “threat actors” have hacked Microsoft’s SharePoint document software servers and targeted the data of the businesses using it, the firm has said.

Microsoft Servers Hacked by Chinese Groups

 

China state-backed Linen Typhoon and Violet Typhoon as well as China-based Storm-2603 were said to have “exploited vulnerabilities” in on-premises SharePoint servers, the kind used by firms, but not in its cloud-based service.

The US tech giant has released security updates in response and has advised all on-premises SharePoint server customers to install them.

“Investigations into other actors also using these exploits are still ongoing,” Microsoft said in a statement.

The firm said it had “high confidence” the hackers would continue to target systems which have not installed its security updates.

It added that it would update its website blog with more information as its investigation continues.

Microsoft said it had observed attacks in which hackers had sent a request to a SharePoint server “enabling the theft of the key material by threat actors”.

Charles Carmakal, chief technology officer at Mandiant Consulting firm, a division of Google Cloud, told reporter, it was “aware of several victims in several different sectors across a number of global geographies”.

Carmakal said it appeared that governments and businesses that use SharePoint on their sites were the primary target.

A number of adversaries who stole material encoded by cryptography were then able to regain ongoing access to the victims’ SharePoint data, he said.

“This was exploited in a very broad way, very opportunistically before a patch was made available. That’s why this is significant,” Carmakal said.

Carmakal said the “China-nexus actor” was deploying techniques similar to previous campaigns associated with Beijing.

Microsoft said Linen Typhoon had “focused on stealing intellectual property, primarily targeting organizations related to government, defence, strategic planning, and human rights” for 13 years.

It added that Violet Typhoon had been “dedicated to espionage”, primarily targeting former government and military staff, non-governmental organizations, think tanks, higher education, the media, the financial sector and the health sector in the US, Europe, and East Asia.

Meanwhile, Storm-2603 was “assessed with medium confidence to be a China-based threat actor”.

 

 

 


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