Reports of an initial public offering (IPO) by Jumia, the pan-African conglomerate of e-commerce businesses, have been finally confirmed but details of its financials do not paint a pretty picture. Jumia has filed to launch its IPO on the New York Stock Exchange, documents from the U.S. Securities and Exchange Commission (SEC) show. The intended IPO is a landmark first for e-commerce and tech businesses on the continent. It could also mark a possible exit by Rocket Internet, Jumia’s German parent company, divesting its remaining 28% stake in the company.…
Read MoreAfrica’s e-commerce giant Jumia to list on the New York Stock Exchange
