The CEAC was created as a cornerstone of Senegal’s Startup Act, which was ratified in 2021 by President Macky Sall following its 2020 adoption by the National Assembly.
In early 2024, Ciwara Capital made its first direct investment outside Mali, backing LafricaMobile (LAM), a Senegal-based multi-channel digital communications platform.
The announcement places Julaya among the first digital finance providers in Francophone West Africa to re-emerge from a regulatory freeze that has paralysed the region’s fintech sector since the beginning of May.
The announcement places Julaya among the first digital finance providers in Francophone West Africa to re-emerge from a regulatory freeze that has paralysed the region’s fintech sector since the beginning of May.
Jumia’s liquidity position declined by $23.2 million in the quarter, leaving it with $110.7 million in cash and short-term deposits. At the current burn rate, the company has roughly five quarters of runway before needing additional funding.
