African e-commerce site Jumia is going public: 5 things to know ahead of its IPO [MarketWatch]
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Source: MarketWatch
African e-commerce site Jumia is going public: 5 things to know ahead of its IPO Jumia Technologies AG, which calls itself the top online shopping site in Nigeria, has filed for an initial public offering to take advantage of expected growth in e-commerce across Africa. The company was founded in 2012 as Africa Internet Group and is headquartered in Berlin, Germany. Shareholders include the Berlin-based incubator and venture-capital firm Rocket Internet SE, which helped the company with its founding and owns a 20.6% stake. South African company Mobile Telephone Networks Holdings Ltd. owns a 29.7% stake. Other early investors include French insurer Axa CS, -0.20% and French telecoms company Orange SA ORA, +0.35% In keeping with German regulations, Jumia has a dual-board system: a management board and a supervisory board. The management board, which is responsible for day-to-day operations, comprises Jeremy Hodara and Sacha Poingnonnec, co-founders of the company who have served
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