The intended IPO is a landmark first for e-commerce and tech businesses on the continent. Jumia CEO Sacha Poignonnec also confirmed the development to TechCrunch
Specifics on the IPO details, such as the timeline of the listing and share price, are expected to be determined in coming weeks. But it is widely expected Jumia will be Africa’s first tech unicorn—a venture-funded company valued at more than $1 billion. It will trade under JMIA on the NYSE.
As part of its pitch to shareholders, Jumia cites itself as “the only e-commerce business successfully operating across multiple regions in Africa” with four million active customers as of December last year.
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