Almost two weeks ago, TechCrunch reported that African e-commerce giant Jumia was planning to sell 20 million American depositary shares (ADSs) and raise over $ 100 million, given its share price of around $ 5.70 at the time. The e-tailer has now completed the at-the-market transaction offering of 20,227,736 ADSs. Jumia sold the shares at […]
Jumia plans to raise more than $100 million in secondary shares to drive stalled user growth
African e-commerce company Jumia is selling 20 million American depositary shares over the next couple of weeks, TechCrunch has learned. The at-the-market transaction is to take advantage of strong results despite a volatile market. Given Jumia’s share price of around $ 5.70 when the stock market opened on Tuesday, the e-commerce company could potentially raise […]
Jumia discontinues food delivery across seven markets, shifts focus to expanding physical goods business
Pan-African e-commerce platform Jumia has disclosed its intention to discontinue its food delivery service, Jumia Food. The company said its food delivery business is not aligned with the current operational landscape and prevailing macroeconomic conditions in the seven markets, including Nigeria, Kenya, Uganda, Morocco, Tunisia, Algeria and Ivory Coast. As a result, Jumia will cease […]