In partnership with Lire en Français اقرأ هذا باللغة العربية TGIFSYNW. And just like that, my week on lede duty comes to an end. I shall now retreat to my cosy little corner where I only have to write blurbs while my colleague, Emmanuel, worries about how to open the newsletter. Until next time, adieu! Before you disappear, too, fill out our tech salaries survey. —Yemi Get smarter about Francophone Africa with our newsletter, Francophone Weekly—the startups, tech policies, and institutions building the pipelines for ecosystem growth. Subscribe Quick Fire with Helina Bischoff Uber to take over Delivery Hero Stanbic Bank Kenya appoints new CEO Who secured the bag? World Wide Web 3 Job Openings features Quick Fire with Helina Bischoff Image: Helina Bischoff, Deputy Managing Partner at Africa Collective Helina Bischoff is Deputy Managing Partner at Africa Collective, where she leads engagement across the organisation’s platforms and oversees partnership development, flagship convenings in Davos and Geneva, and core activities including network management and B2B facilitation. She works at the intersection of business, policy, and international cooperation, convening senior leaders from the public and private sectors. Her work focuses on priority areas structured through Africa Collective’s thematic “Circles,” including healthcare, infrastructure, ventures, commodities, and the arts. She also oversees the Swiss-African Business Circle, an independent association fostering commercial exchange between Switzerland and African markets. Before joining Africa Collective, Helina held roles at Novartis across Global Diversity & Inclusion, the Malaria Initiative, and the Africa Cluster, specialising in communications and public affairs. She holds a BA in International Relations and French from Rhodes University and an MA in African Studies from the University of Basel. Explain your job to a five-year-old. I bring people together so that they can find ways to work together. What’s the most contrarian bet you’ve made professionally that paid off? My role at Africa Collective can be considered contrarian by definition; we create platforms and convenings within global events that give greater visibility to African topics and perspectives, especially in spaces where they are underrepresented or absent altogether. That is not always easy, but it has paid off. Through Africa Collective and the Swiss-African Business Circle, the business association we manage, we have built trusted platforms that bring people together, create space for concrete discussions, and facilitate meaningful collaborations. What’s a belief about Africa-Switzerland trade that most people get wrong? The depth of the ties between Switzerland and the African continent is often underestimated, as are the opportunities to leverage them. Switzerland is a global hub for many key sectors, including commodities, banking, tech, and life sciences. It is also home to large pools of capital and major impact investors with an interest in Africa. Several Swiss multinationals are active across the African continent, but there are also many Swiss SMEs and startups operating in African markets. On the flip side, African companies and organisations are looking to establish and strengthen ties with Swiss counterparts as technical or knowledge partners and, in some cases, to set up entities or subsidiaries in Switzerland. What’s something you believed strongly about African tech five years ago that you’ve since changed your mind about? Five years ago, I would have thought about African tech solutions mainly in their own right. Since then, I have also come to appreciate the role of African tech as an enabler of lower-tech businesses that are critical to the global economy. African tech solutions are not only being developed for local markets, but for the world, too. Getting paid in cedis just got easier for African businesses operating in Ghana. Fincra now issues dedicated GHS virtual accounts to enable businesses to collect payments. See how Fincra GHS virtual accounts work. companies Prosus’ forced Delivery Hero exit turned into a $2.4 billion payday Image Source: Tenor A forced sell-down, a decisive stake in one of Germany’s most important food delivery companies, and an impeccably timed takeover bid that is set to bring a huge payday, the folks at Prosus, the investment firm of South Africa’s Naspers, were grinning from ear to ear yesterday. On Thursday, Uber, the US-based ride-hailing giant, offered to buy Germany’s Delivery Hero (DH) at €41.50 ($47.48) per share, valuing the company at $14.8 billion. State of play: Uber has been eyeing Delivery Hero for months. In May, while competing with fellow US delivery company DoorDash, it explored a €10 billion ($11.6 billion) bid. Today, it is paying more than 25% extra for the same company. Delivery Hero shareholders look set to accept the offer. Prosus, which has signed an unconditional agreement to sell its remaining 16.83% stake once the deal closes, will receive €2.1 billion ($2.4 billion). Explain like I’m new here: Prosus first invested €387 million ($434 million) for a 10% stake in Delivery Hero in 2017. Over the next eight years, it spent over $4 billion through initial public offering (IPO) participation, acquisitions, private placements, and open-market purchases, eventually building a 29.95% stake. By 2025, Delivery Hero remained one of its biggest investments. Together with iFood and Swiggy, Prosus said its food delivery businesses served nearly half the world’s population and generated $1.3 billion in revenue. Then regulators forced its hand. After announcing its acquisition of Just Eat Takeaway.com, a Dutch food delivery company, Prosus was ordered by the European Union to reduce its Delivery Hero stake over competition concerns. It sold 4.5% to Uber in April and another 5% to Aspex Management, an investment firm, in May for €605 million ($713 million). Prosus wasn’t trying to exit Delivery Hero because it had lost faith in the business. It was being forced to sell because of regulators, while trying to maximise the return on nearly a decade of backing one of Europe’s largest food delivery companies. Prosus even asked the European Commission to pause the sell-down, believing that takeover interest from Uber and DoorDash could drive a much higher valuation. But the jury is still out on whether it made a fair value gain on Delivery Hero, but one
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