Frontier Digital Ventures snaps up 3 online classified portals in Africa

Company News

by Jessica Amir

Online classified business, Frontier Digital Ventures Limited (ASX:FDV) completed the purchase of 3 online property classified portals in Africa.

The company will pay US$500,000 to Jumia, which is a online classified group in Africa.

Frontier will sell Afribaba and merge all traffic, listings, agents, advertisers and revenues onto the existing portals.

The company says the transaction strengthens its portfolio and will create 3 new market leading investments, with privileged access to corporate opportunities and value for shareholders.

Shares in Frontier Digital Ventures Limited (ASX:FDV) are trading flat at 65 cents.

Jessica Amir

Finance News Network
Jessica is the head of news and a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.