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 joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.