Jumia is an African retail and ecommerce start up, which for the first time ever started trading in the New York Stock Exchange NYSE, after their recently initial public offering IPO. The company which was founded in 2012 was driven to successful IPO by its joint CEO Jeremy Hodara and Sacha Poignonnec, along with Tunde Kehinde and Raphael Kofi Afaedor
The company which is has its headquarters in Nigeria, has over 4000 employees and sells various products from electronics to clothes and home products. So why is this specific start up making waves worldwide? Firstly, by being the first African start up on the NYSE, it opens Africa tech sector to investors who might be interested in Africa but not sure how best to invest safely in such a large and growing market. Secondly, some of its investor are African major player in the market including MTN.
The company share price grew significantly since opening and increased by 71% in its first opening in the NYSE. The company is already seen as the next Amazon i.e. the ecommerce which started from humble beginnings and grew to the mammoth it is now.