The MTN Group, one of Africa’s largest telecom providers, is reportedly taking steps to offload some assets with plans to sell its stake in Jumia, IHS Towers and also exit the Middle East to focus on Africa. Bloomberg reported that the telecom giant is looking to cash out on all or part of its $243 million stake in the eCommerce giant, Jumia. This will take advantage of the massive recovery of its shares since the turn of 2020. In April, 2019, Jumia got placed on the New York Stock Exchange (NYSE), with a $1.5 billion valuation and the IPO looked to be a strategic exit for its major investors, Rocket Internet and MTN Nigeria. Then, MTN’s 40% stake was worth $600 million, and the proposed sale was geared at reducing its debt burden. Fast forward 6 months to October 2019, and Jumia’s entire market valuation — $523 million — was less than MTN’s initial 40% stake. MTN, having listed Jumia as one of its non-core businesses, seems to be reviving its plans to sell now ...