No. 153: 3AMReads: Oxosi Pushes Afromodernism | Vodacom Acquires Stake in Safaricom | The Gambia Sees Investment Dollars

What a day! Apologies for the late post! Here we go.

Oxosi Continues Building Brand and Afromodernism

African fashion e-commerce platform launched in late 2015, and continues to take it’s game to the next level. Get you some gear!

Vodacom Takes 35% Stake in Fellow Vodaphone Subsidiary Safaricom

Yesterday, news came out that Vodaphone-subsidiary Vodacom is acquiring a 35% stake in Safaricom from Vodaphone. I wrote last week about rumors of the Kenyan government pushing for Safaricom to break up at some point. It along with Vodacom have 35% stakes. At some point, I’ll look back to see the extent to which Vodacom has done any share buybacks, as having two shareholders with stakes that large and breakup threats makes me uncomfortable. I’m curious about the strategy behind Vodacom taking over the Safaricom stake and would appreciate ideas from you all. Feel free to send me ideas at kwame.som.pimpong@gmail.com.

African Export Import Bank Investing $500M in The Gambia

It’s good to see investment dollars headed The Gambia’s way after former President Yahya Jammeh’s defeat in last year’s elections. I’m curious how well the current administration under President Adama Barrow is tackling the country’s debt problem. Apparently, President Jammeh left the country’s finances in a pretty big mess with at least $1B in debt. The country getting tax revenue in place and effectively leveraging investment dollars like this deal with the African Export Import Bank will be critical in ensuring that the country keeps moving forward.

 

 

 

No. 127: Where Can I Buy African High Fashion?

Africa’s fashion industry has the potential to be massive and you should pay attention to it.

When I found out that Akin Adebowale, Kolade Adeyemo, Bobby Pittman, and the rest of the team were building Oxosi, I couldn’t wait to see what they would come up with.

Oxosi is an e-commerce platform that brings African high fashion to the US. Place your orders! Parts of African fashion have impacted taste in the West for a long time. It is good to see the creators of African fashion get credit for their genius through platforms like this.

The team has raised a good bit of money to start off and if their bet on the appeal of African high fashion in the US hits, Naspers and Tiger Global, two of the biggest investors in e-commerce out there, should pay attention.

Kudos to the Oxosi team. Here’s to, in the words of Paul Judge, building something from nothing.