Xenophobia has reared its ugly head again in the Rainbow Nation. African nations have had enough

Johannesburg, South Africa (CNN)When I travel out of South Africa, I am often asked a version of the same question. “So, what will you be doing in Africa?” Much of the violence and crime targeted foreign African migrants from countries such as Nigeria, Ethiopia, Zambia, and Kenya. Of course, there is a difference between feeling separated from the continent and its people and violence against African migrants. But is it part of a continuum? South Africa’s isolation In an essay recently re-published in the influential blog Africa is a Country (the title is ironic), South African writer Sisonke Msimang writes about experiencing this geographic dissonance on returning from exile in the 1990s. “In the early years after I got ‘home,’ …

Africa Roundup: Jumias post-IPO earnings, Gokadas $5.3M raise, Facebooks fake-news purge, Joe Montanas fintech investment

Jumia held its first post-IPO earnings call and weathered a short-sell assault in May, with Wall Street showing confidence in the Pan-African e-commerce company. On the numbers, key takeaways were that Jumia’s Gross Merchandise Value (GMV) — the total amount of goods sold over the period — grew by 58% to €240 million. Marketplace revenue grew 102% to €16 million, and gross profits as a percentage of GMV grew by 6.5% in Q1 2019. Overall, Jumia’s operating losses for the period widened to €45.4 million from €34.3, and negative EBITDA increased to €39.5 million from €30.2. So the startup’s still losing money — see the big losses reported in the IPO filing — but is improving its ability to earn. …