The Pan-African e-commerce company, Jumia is the first African startup to be listed on the New York stock exchange, they started trading in April 2019 with an opening price of $14.50.
Jumia boasts of being the leading e-commerce platform in Africa with this major feat but not limited to this alone as in 2016 they became the first African startup unicorn, to get a $1 billion valuation after a funding round that included Goldman Sachs, AXA and MTN.
The company is referred to as the Amazon of Africa which is now stepping into the zone of big companies. This company was formally founded in 2012 with its operation within Lagos in Nigeria but has now extended across the 36 states of Nigeria and to about 14 other African countries.
Jumia deals in e-commerce, delivery, flight booking, hotel reservation, they have also recently delved into fintech and many other aspects. Jumia took the bull by the horn by diversifying their services, delving into different services within their scope and this bold step has brought them to where they are today.
The flip side of the company is the certainty if it is truly an African company. The original startup founders of are Tunde Kehinde and Raphael Afaedoro before they went separate ways, currently, the parent company for the Jumia group is in Germany but it is definitely an African startup as it’s headquarters is based in Lagos Nigeria.