Molo,
Victoria from Techpoint here,
Here’s what I’ve got for you today:
- Telkom’s clean-up pays off big
- Blockchain Policy 2.0: Necessary or redundant?
- Jumia scores a fresh investor
Telkom’s clean-up pays off big
Telkom in South Africa’s having a solid run, and it’s showing in the numbers. Despite a sluggish economy, the telecoms giant told investors yesterday that business is looking strong. In a trading update ahead of its full results next week, the company said it’s expecting adjusted headline earnings per share (Heps) to jump by up to 105% and basic earnings per share (Beps) to rise as much as 135%.
That Beps spike got a big push from a one-off gain of about R483 million (roughly $26 million), mostly from selling off assets worth R740 million (about $40 million), offset by some write-offs. Telkom also stripped out a R451 million ($24.4 million) after-tax impact from restructuring its pension fund and R117 million ($6.3 million) in other restructuring costs to show its “clean” earnings picture.
When you throw in discontinued operations like Swiftnet, the numbers get even more dramatic. Telkom’s total Beps could rise by up to 300%, while Heps may climb by as much as 50%. That huge bump in Beps is thanks to the R4.3 billion ($232 million) after-tax pr0fit Telkom made when it sold Swiftnet, its masts and towers business.
Investors are loving the news. Telkom’s share price jumped more than 7% on Monday, climbing to R41.75 (around $2.26), the highest it’s been since 2022. The stock’s up more than 60% over the past year, signalling renewed confidence in the operator’s strategy.
All eyes now turn to June 10, when Telkom will release its full-year results for the period ended March 31, 2025. Let’s see if the final numbers match the hype.
Blockchain Policy 2.0: Necessary or redundant?
Nigeria already has a National Blockchain Policy, so why is the government working on another one?
In May 2023, after nearly four years of development involving industry experts, government agencies, and international partners, Nigeria’s blockchain policy was approved with presidential assent.
It outlines how blockchain can drive innovation in areas like financial inclusion, digital identity, and supply chain transparency.
But barely a year later, Minister of Communications and Digital Economy, Bosun Tijani, has announced plans for a new policy framed as a more inclusive, research-driven approach to blockchain governance.
This move has stirred up concern within the ecosystem. Chimezie Chuta, who chaired the original steering committee, calls it a “typical Nigerian thing,”a wasteful attempt to rewrite what’s already been done. He argues that the existing policy should be updated, not replaced.
On the other hand, Senator Ihenyen of VASPA believes the Minister is not starting from scratch, but aiming to build a more holistic, ministry-owned policy that moves blockchain from theory to real-world application.
Is Nigeria reinventing the wheel or laying a stronger foundation for blockchain development? Bolu breaks down what’s really happening in his new article. Read it here.
Jumia scores a fresh investor
Jumia just scored a fresh investor. AXIAN Telecom, which operates in nine countries across Africa and beyond, has picked up an 8% minority stake in the eCommerce company. The deal signals a vote of confidence in Jumia’s long-term vision, especially as the company tries to steady itself in the face of increasing competition and financial pressure.
In a statement, AXIAN Telecom’s CEO Hassan Jaber said Jumia’s work in digital retail, logistics, and fintech, particularly through JumiaPay, was the kind of thing that aligned with AXIAN’s values. He described Jumia as being well-positioned to drive financial inclusion across Africa, calling the company “a very attractive investment.”
The timing is notable. Just last week, Jumia’s biggest institutional investor, Baillie Gifford, dumped its entire stake in the company. That move raised eyebrows across the tech ecosystem, especially as Jumia had just posted weak Q1 results. Revenues were down, and the company’s path to profitability remains rocky.
Under CEO Francis Dufay, Jumia has shifted from aggressive marketing to cost-cutting. The focus is now on customer retention and trimming unprofitable areas. While this strategy has helped lower operational costs, it’s also slowed down revenue growth at a time when competition is heating up fast.
Global giants like Temu and Shein have entered African markets, intensifying the battle for shoppers’ wallets. In response, Jumia is building stronger ties with Chinese suppliers and pulling out of countries where business hasn’t been great, like South Africa and Tunisia. It’s also tightening its product range to better manage costs.
Still, Jumia isn’t giving up. The company’s leadership says the road to recovery takes time. With AXIAN Telecom now on board, there’s fresh backing, and maybe a new chapter ahead for one of Africa’s most talked-about tech companies.
In case you missed it
- MTN Nigeria’s CTO: Major network upgrades expected by Q4 2025
What I’m watching
- Is Human Consciousness Truly Unique?
- Jimmy Fallon: I Didn’t Expect It To Be This Brutal! The Hate Was Something I Wasn’t Prepared For!
Opportunities
- Want to exhibit or attend the Lagos Startup Expo in June? Visit this website here.
- Marvin Records is looking for a Senior/Lead Business Development Manager. Apply here.
- PalmPay has several openings. Apply here.
- Moove is hiring. Apply here.
- Moniepoint is hiring for several positions. Apply here.
- Building a startup can feel isolating, but with Equity Merchants CommunityConnect, you can network with fellow founders, experts, and investors, gaining valuable insights and exclusive resources to help you grow your business. Click here to join.
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Have a lovely Tuesday!
Victoria Fakiya for Techpoint Africa.
