Jumia Technologies AG (“Jumia”) (NYSE: JMIA), the leading Pan-African e-commerce platform, has officially announced its listing on the New York Stock Exchange (NYSE).
With shares beginning trading at $14.50 under ticker symbol JMIA, thie listing, according to the Country Manager for Ghana, Ole Odusanya, is as a result of a team success, and all the Jumia employees across Africa rang the “bell” at the same time in each country.
In an interview with him, he noted that: “This is really exciting for us; we are quite humbled about this. This is huge and we thank all our consumers part. For us it is just one single mission which is to improve the everyday lives of our customers, sellers and consumers across Africa. We just looked at the African market and we realized that there are things we can do to improve our lives using technology. This recent development is very good for us because it also shows that there is increased trust in us.”
Founded in 2012, Jumia started a mission to improve the quality of everyday life in Africa, by leveraging technology to deliver innovative, convenient and affordable online services to consumers. Jumia has been in Ghana for the last four years and has grown significantly over these years.
Speaking on the progress of business, Mr. Ore Odusanya noted that: “The Ghanaian community has been very welcoming to us. We will be operating beyond Accra as part of our future plans.”
Currently, Jumia is active in 14 other African countries with four million active consumers and 81,000 active sellers on the its platform. The platform has also employed 5000 team members and 90% of them are Africans. Mr. Ore Odusanya was emphatic that Jumia is an African company, owned and operated by Africans. He said there are no plans in place to expand beyond Africa.
Touching on being listed on any other stock exchange. The Country Manager said: “Currently, we are not on any other stock exchange. We want to keep on being a private company and increase awareness and trust. For the appetite of our investors, we felt we can actually achieve more if we are listed on the NYSE, which is the largest stock exchange in the world. Our current share is about USD$31.
Jumia empowers businesses to grow, by using its platform to reach and serve consumers across the continent. Jumia is currently active in 14 African countries with more than 81,000 active sellers transacting online with millions of consumers. The e-commerce platform directly employs more than 5,000 team members in Africa.
“For us in Ghana, this represents a significant milestone in our journey and presents a good opportunity for us to expand our operations with a view to offering our clients and customers the best services in our area of operations” adds Mr. Ore Odusanya.
On their part, Co-Founders and Co-Chief Executives of Jumia, Sacha Poignonnec and Jeremy Hodara, noted that: “This achievement has been made possible thanks to the hard work of our teams, the trust of our consumers, as well as the commitment of our sellers and partners. All stakeholders deserve credit for this milestone, and we are just at the beginning of a long and great journey. We are going to continue to focus on our mission and to work even harder to help consumers, sellers, partners and all stakeholders benefit from this technological revolution.”