IFC Backs Jumia's $50M Raise as Lagos Tops Africa's Startup Rankings and CBN Opens Crypto Sandbox

Nigeria's tech ecosystem is entering an "institutional maturity" phase — where global capital flows in, regulators build frameworks, and homegrown solutions get exported continent-wide.

Evidence For

• Jumia raised $50 million in a capital raise anchored by a $25 million investment from the International Finance Corporation (IFC), part of the World Bank Group. The deal priced 9.1 million ADSs at $5.52 per share, with Axian — one of Jumia's largest shareholders —...