One of Nigeria’s leading online retail stores, Jumia has hit big in a fresh round of funding. The sum which is to the tune of about
$150 million USD from three of its major shareholders; MTN, Millicom and Rocket Internet. The money was channeled via the Africa Internet Group (AIG) and its meant to further strengthen the company’s position as the a front burner as an online retailer in Africa.
According to a statement by Pieter Verkade, MTN Group Chief Commercial Officer, “Working with our strategic partners, we have the best possible set-up to accelerate the growth of online businesses in Africa and bring even more exciting e-commerce services to our customers. MTN believes that Africa is better placed to drive the next stage of growth in global e-commerce”.
Jumia now has operations in 10 countries and is rated the largest e-commerce company in Africa and might possibly make its way into the Nigerian Stock Market.
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