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Jumia partners UPS to expand distribution network. See what that means for both parties

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International logistics firm, United Parcel Services, UPS, has entered into a partnership with Jumia to access the e-commerce firm’s delivery infrastructure across many African countries.

https://twitter.com/UPS/status/1510980625037205515?s=20&t=LglfUcaJD7mO_1wGEszyNA

Bloomberg reports that the deal will enable the Berlin-based firm (Jumia) to make use of UPS’s network across 220 countries and territories to help users deliver their packages

Jumia’s Senior Vice-President of Logistics, Apoorva Kumar revealed that the partnership would help address one of the biggest challenges that the company faced as a start-up.

“at the beginning of our journey – launch of the e-commerce platform 10 years ago, logistics infrastructure was one of the most challenging aspects of our operating environment. This challenge was a catalyst for us to build an unparalleled logistics platform in Africa offering our sellers and consumers reliable, convenient and cost-effective delivery services.” Kumar said.

He added that “today, we are helping other businesses overcome these infrastructure challenges by giving them access to our logistics platform. We are delighted and humbled by the opportunity to partner up with UPS, a global logistics leader, to offer the last mile solutions in Africa. We view this as a validation of the strength of our logistics platform as well as an incentive to double down on our efforts to further enhance our services and build a world-class logistics business in Africa.”

While the companies didn’t provide financial terms of the deal, Bloomberg says it would help Jumia become a $1.2 billion company from $934.6 million on Friday. UPS shares fell 1.2%.

Gregory Goba Ble, UPS vice president of engineering and operations for Indian subcontinent, Middle East, and Africa said, “UPS’s asset-light approach, like the Jumia partnership, offers a pathway for businesses to quickly and reliably connect to new customers around the world through our global network, potentially accelerating their revenue growth.”

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World Bank predicts Mozambique economy growing at 5.7% on average

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The World Bank has predicted that the economic growth in Mozambique is expected to accelerate in the medium term averaging 5.7% between 2022 and 2024, as a result of demand recovery and economy benefits from the start of liquefied natural gas production this year.

In a report released Thursday, the World Bank said the start of LNG production at the offshore Coral Project and the expected resumption of other LNG projects would help spur the southeast African nation’s growth in the intervening year.

The World Bank said a three-year extended credit facility arrangement agreed by Mozambique with the International Monetary Fund (IMF) and budget support from other partners would further help to strengthen its economic recovery.

The IMF’s executive board had, in May, approved a $456 million program for the country, the first since the global lender suspended support to Mozambique six years ago.

However, the World Bank warned that risks remained for Mozambique’s growth, especially from rising import prices due to the conflict in Ukraine, a possible surge in COVID infection waves, and insurgency in the north.

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Nigeria, Algeria, Niger to revive Saharan gas pipeline talks

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The governments of Nigeria, Algeria and Niger Republic have held talks to revive a gas pipeline project across the Sahara which had been put on hold for over 40 years, with the potential opportunity for Europe to diversify its gas sources as the world faces a short fall as a result of the Russian-Ukraine war.

The three countries, represented by their various Petroleum Ministers, met in Abuja, Nigeria’s capital on Wednesday and resolved to set up a task force to revive the project and designated an entity to update the feasibility study.

A statement by Niger’s Oil Ministry after the two-day meeting stated that the Trans-Saharan gas pipeline project estimated at $13 billion, could send up to 30 billion cubic metres a year of supplies to Europe.

The statement added that the energy ministers of the three countries will meet again in Algiers at the end of July to “validate the proposals of the newly installed task force.”

“The pipeline should allow Europe to diversify its sources of natural gas supply but also allow several African states to access this high value energy source,” the statement said.

“With a length of 4,128 kilometres (2,565 miles), the pipeline would start in Warri, Nigeria, and end in Hassi R’Mel, Algeria, where it would connect to existing pipelines that run to Europe,” it said.

The gas pipeline idea was first proposed more than 40 years ago with an agreement signed between the three countries in 2009, but progress stalled stalled following a lack of follow through by the countries.

Earlier this month, Nigeria also took steps to revive another gas pipeline project that would pass through West Africa, Morocco to Europe.

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