Africa: Jumia Raises $50m From IFC, Axian in Profitability Push

Africa: Jumia Raises $50m From IFC, Axian in Profitability Push

Jumia has priced a $50 million equity raise led by the International Finance Corporation as the e-commerce company adds cash while working toward break-even. IFC will invest $25 million, with Axian and other investors providing the rest. The investors will buy about 9.1 million American depositary shares at $5.52 each.

Africa’s Amazon turns to World Bank for shock absorber

The NewsA fresh cash injection from the World Bank’s private investment arm will help Africa’s largest ecommerce vendor absorb shocks spurred by ongoing geopolitical crises in the Middle East and meet profit targets over the next year, the company’s chief executive told Semafor.New York-listed Jumia raised $50 million from its largest shareholder Axian and some existing investors this week, selling 7% of its shares. Half of the amount raised cam…

USD 50 M Injection Keeps Jumia Alive But Unclear Whether It Can Breathe On Its Own

Two years ago, Jumia was in trouble. The stock was cratering, and investors were fleeing as the narrative that African e-commerce was destined to follow the Chinese or Indian playbook had started to look like wishful thinking. The company had burned through billions chasing growth, and the market had run out of patience. Then something shifted. The company stopped chasing gross merchandise volume at any cost and started protecting margins. As it…

World Bank Group Invests $25 Million in Jumia to Expand Africa’s Digital Commerce Infrastructure

The World Bank Group is supporting the expansion of Africa’s digital commerce infrastructure through a $25 million equity investment in Jumia Technologies, Africa’s largest public e-commerce platform. The investment, made by the International Finance Corporation (IFC), the private sector arm of the World Bank Group, is expected to strengthen Jumia’s marketplace and logistics network across […] The post World Bank Group Invests $25 Million in Jum…