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Transsion IPO Proves the Promise of the African Market

Nigerian Afrobeats superstar, Davido posing for ad campaign for Transsion's Tecno line of popular phones. Photo via Tecno.

This week’s stunning stock debut of the Chinese company that dominates the African mobile phone market is definitive proof in the promise of the African market. Shenzhen-based Transsion Holdings started trading this week on the NASDAQ-style Star exchange in Shanghai where its stock immediately shot up 64% on the opening day, pushing the company’s valuation close to $7 billion.

What’s interesting here from a political point of view is that while the United States, Japan and Europe have all talked at length about how they want to transition their engagement strategy from state-sponsored aid programs to private-sector-led investment, the Transsion IPO demonstrates clearly that China is already doing that.

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