The valuation, share price and timeline for public stock sales will be determined over the coming weeks.
Founded in Lagos in 2012 with Rocket Internet backing, the startup operates multiple online verticals in 14 African countries, spanning Ghana, Kenya, Ivory Coast, Morocco and Egypt. Goods and services lines include Jumia Food (an online takeout service), Jumia Flights (for travel bookings) and Jumia Deals (for classifieds). Jumia processed more than 13 million packages in 2018, according to company data.
Jumia has also opened itself up to traders and SMEs by allowing local merchants to harness Jumia to sell online. There are over 81,000 active sellers on their platform.
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