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These 3 African companies are worth over $1 billion

  • A research group, CBInsights lists three African startups among unicorn companies in the world.
  • The companies are Jumia Group, Cell C and Promasidor Holdings.
  • The report highlights private companies around the world with billion-dollar valuations.

Three African private companies have been valued above $1 billion in market value and among the top 310 unicorn companies in the world, according to a research group, CBInsights.

A unicorn startup or unicorn company is a private company with a valuation of over $1 billion.

The report highlights private companies around the world with billion-dollar valuations. The database mapped all 310 global unicorn companies valued at over $1 billion in the primary markets.

Check out the companies in Africa that made list:

Jumia Group - $1.044 billion

A Jumia warehouse

Jumia is an online marketplace in Africa for electronics, and fashion among others. The company introduces and accelerates the internet business in Africa

Investors: AXA, CDC Group, Goldman Sachs, MTN Group Ghana and Orange.

Cell C - $1 billion

Cell C South Africa (Tech Financials)

Cell C is a mobile provider that offers a wide range of products and services, including voice, data, and messaging services in South Africa.

Investors: Blue Label Telecoms and Net1 UEPS Technologies.

Promasidor Holdings - $1.593 billion

Promasidor office in Nigeria

Promasidor Holdings is a supplier of quality, nutritional, and affordable food products across 30 African markets. Some of its products include dairy products, beverages, food enhancement products, and a non-dairy creamer under a variety of brands.

Investors: Ajinomoto and International Finance Corporation.

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