Jumia Stocks Rise Marginally as AXIAN Telecom Takes 8% Stake

Jumia stocks rise marginally as AXIAN Telecom takes 8% stake

African e-commerce player Jumia is charting a new strategic course, and investors are taking notice. The company’s shares saw a 2% bump on Wednesday, climbing to $3.31, after Mauritius-based AXIAN Telecom secured an 8% minority stake. This move signals a potential shift in Jumia’s trajectory, pushing its market capitalisation to $406.58 million. The fresh investment from AXIAN, a pan-African telecom and digital services group, arrived early June…

AXIAN Telecom Acquires Stake in Jumia

Pan-African telecom operator AXIAN Telecom has acquired an 8% minority stake in Jumia, the e-commerce platform. The stake acquisition was disclosed through a Schedule 13D filing with the U.S. Securities and Exchange Commission. AXIAN Telecom, which operates across several African markets, described the investment as part of its broader commitment to fostering digital and financial inclusion on the continent.“Jumia’s work in digital commerce and …