What You Should Know About Africa's First Unicorn Ahead of Its IPO

What You Should Know About Africa's First Unicorn Ahead of Its IPO

    Research Brief

Launched in 2012, Jumia Group is set to become Africa’s first technology company to list on the New York Stock Exchange. Additionally, it is poised to become the first unicorn, company with a valuation estimated at over $1 billion. However, although the company bills itself as African - we do too, per our classification - many still contest Jumia’s ‘Africanness’. Although Jumia’s majority shareholder is South African-based MTN Group with a 29% stake, the rest of the ownership - over 70% is held by European and American firms. The company - although maintains local subsidiaries who are each registered in their respective countries of operations - is also headquartered and incorporated in Berlin, Germany as Jumia Technologies AG. As a private company registered as Africa Internet Holding GmbH in Germany, not much information relating to its performance has been shared with the public except for metrics surrounding Gross Merchandise Value (GMV), Number of Customers as well... }

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