Jumia Foods | Africa Inc.

Jumia cashes in on bullish stock trading aims to raise US$400m to finance expansion drive

March 24, 2021March 24, 2021 Frank

AFRICA – The New York Stock Exchange listed Africa-focused eCommerce company, Jumia is seeking to raise US$400 million by floating 9 million American depositary shares (ADS). ADS are stocks offered by non-US companies, available to be purchased by US investors. Secondary sales like this are usually done by public companies to finance debt or facilitate growth. The Ecommerce giant with stock trading at US$42.14 on Monday, aims to raise more cash to fund its expansion drive. Jumia listed the ADSs at US$50 per share, but investors could buy these shares at…

Jumia extends food delivery service to five more states in Nigeria

January 23, 2021 Frank

NIGERIA – Leading e-commerce platform in Africa, Jumia has launched its food delivery service Jumia Food to five additional states in Nigeria as part of its resolve to expand the growing popularity and thrilling experience of online fast-food services to customers in all Nigerian states. The new route on Jumia Food map are Minna, Benin City, Kaduna, Abeokuta, Kano, and Ilorin. The expansion into the new markets is in response to the organization’s findings which were published in its 2020 Nigeria Food Index report, which indicated that the country’s food and…