From burnout to buyout?
How one investor still sees a future worth betting on for an African e-commerce platform.
Jumia’s been on a wild ride, in a not-so-fun tide. Once hyped as the “Amazon of Africa,” it’s now a shadow of its former self. The company’s lost over 90% of its value since going public in 2019, pulled out of five markets, watched its biggest investor walk away, and is burning more cash than it brings in.
But a Mauritian telecom group that already owns 9% of Jumia is still interested and may be willing to buy the e-commerce giant. It’s not just a rescue mission; the telco has serious fintech and telco ambitions across Africa, and Jumia could fit right in. It could be Jumia's pivotal moment, or perhaps its most intriguing chapter to date.
What do you think?
— Seun
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