Xiaomi has shipped 100 million smartphones in India – gpgmail


Xiaomi said on Friday it has shipped over 100 million smartphones in India, its most important market, since beginning operations in the nation five years ago. The company cited figures from research firm IDC in its claim.

The Chinese giant, which has held the top smartphone vendor position in India for eight straight quarters now, said its budget smartphone series Redmi and Redmi Note were its top selling lineups in India.

“It’s a testament to the love we have received from millions of Mi Fans since our inception. There have been brands who entered the market before us, yet are nowhere close to the astounding feat we have achieved,” said Manu Jain, VP of Xiaomi and MD of the company’s India business, in a statement.

As competition in its home market intensified, India has emerged as the most important market for Xiaomi in recent years. When the Chinese firm entered the nation, for the first two years, it relied mostly on selling handsets online to cut overhead. But in the years since, it has established presence in brick-and-mortar market, which continues to drive much of the general sales in the nation.

xiaomi india

Last month, Xiaomi said the company is on track to building presence in 10,000 physical stores in the country by the end of the year. It expects offline market to drive half of its sales by that time frame.

More to follow…


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Goldman backs Kobo360, Rwanda commits to EVs, Interswitch IPO update – gpgmail


Nigerian freight logistics startup Kobo360 raised a $20 million Series A round led by Goldman Sachs and $10 million in working capital financing from Nigerian commercial banks.

The company — with an Uber-like app that connects truckers and companies to delivery services — will use the funds to upgrade its platform and expand to 10 new countries beyond current operating markets of Nigeria, Togo, Ghana and Kenya.

Kobo360 looks to grow beyond its Nigeria roots to become a truly Pan-African company, co-founder Obi Ozor told gpgmail .  He co-founded the venture in 2017 with fellow Nigerian Ife Oyedele II.

Since its launch in Lagos, the startup has continued to grow its product offerings, VC backing and customer base. Kobo360 claims a fleet of more than 10,000 drivers and trucks operating on its app. Top clients include Honeywell, Olam, Unilever, Dangote and DHL.

Kobo360’s latest round is also notable for Goldman Sachs’ involvement. Goldman’s participation tracks a growing list of African venture investments made by the U.S. based finance firm.

Chinese mobile-phone and device maker Transsion will list in an IPO on Shanghai’s STAR Market, Transsion confirmed to gpgmail.

The company — which has a robust Africa sales network — could raise up to 3 billion yuan (or $426 million).

Transsion’s IPO prospectus is downloadable (in Chinese) and its STAR Market listing application available on the Shanghai Stock Exchange’s website.

STAR is the Shanghai Stock Exchange’s new Nasdaq-style board for tech stocks that also went live in July with some 25 companies going public.

Headquartered in Shenzhen — where African e-commerce unicorn Jumia also has a logistics supply-chain facility — Transsion is a top-seller of smartphones in Africa under its Tecno brand.

The company has a manufacturing facility in Ethiopia and recently expanded its presence in India.

Transsion plans to spend the bulk of its STAR Market raise (1.6 billion yuan or $227 million) on building more phone assembly hubs and around 430 million yuan ($62 million) on research and development, including a mobile phone R&D center in Shanghai, a company spokesperson said.

The government of Rwanda will soon issue national policy guidelines to eliminate gas motorcycles in its taxi sector in favor of e-motos, according to a preview of the plan by President Paul Kagame at a public-rally

The director general for the Rwanda Utilities Regulatory Authority, Patrick Nyirishema, confirmed Kagame’s comments were ahead of a national e-mobility plan in the works for the East African nation.

“The president’s announcement is exactly the policy direction we’re in…it’s about converting to electric motos…The policy is prepared, it’s yet to be passed…and is going through the approval process,” Nyirishema told gpgmail on a call from Kigali.

Motorcycle taxis in Rwanda are a common mode of transit, with estimates of 20 to 30 thousand operating in the capital of Kigali.

Nyirishema explained that converting to e-motorcycles is part of a national strategy to move Rwanda’s entire mobility space to electric. The country will start with public transit operators, such as moto-taxis, and move to buses and automobiles.

Ampersand, a Kigali-based e-moto startup, has already begun to pilot EVs and charging systems in Rwanda and will work with the country’s government on the moto-taxi conversion.

In an ExtraCrunch feature, gpgmail delved into tech talent accelerator Andela — one of the most recognized and well funded startups operating in Africa.

In a byte, Andela is Series D stage startup ― backed by $180 million in VC ― that trains and connects African software developers to global companies for a fee.

CEO Jeremy Johnson dished on the company’s strategy toward profitability and responded to some of the criticism it receives ― namely a claim the startup is creating a second brain-drain when software developers leave Andela and Africa, to take positions with global companies.

Today Andela has offices in New York and five African countries: Nigeria, Kenya,  Rwanda, Uganda, and Egypt ― which largely align with the continent’s top tech VC markets.

Across this network the company recruits software developers, builds software engineers, and deploys teams of software engineers.

Johnson disclosed numbers on Andela’s expected new hires for the year, current developer staff, how many departures the company expects, and how many of those will likely leave their home countries―which actually amounts to a fairly small percentage.

gpgmail checked in with Nigerian fintech company Interswitch for the latest on its anticipated dual-listing London and Lagos stock exchanges.

A Bloomberg News story (based on background sourcing) revived speculation the IPO could happen this year for the company — which provides much of Nigeria’s digital banking infrastructure and has expanded its operations presence and payments products across Africa and globally.

Reports that Interswitch could be one of the earliest big tech companies out of Africa to go public trace back to 2016, when CEO and founder Mitchell Elegbe told gpgmail the company was considering a listing before the end of that year.

Last month, an Interswitch spokesperson would neither confirm or deny a pending IPO, per a gpgmail inquiry. So, it’s still tough to say if or when the company could list. But there are still several reasons why the business (and its possible IPO) are worth keeping an eye on, which we detailed in the update story.

 

One could be an eventual increase in venture funding to African startups, that could come from Interswitch. Another could be an Interswitch IPO adding another benchmark for global investors to gauge Africa’s tech sector beyond Jumia — the e-commerce company that became the first big tech firm operating in Africa to launch on a major exchange, the NYSE in April.

More Africa-related stories @gpgmail

African tech around the ‘net

 


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