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. …