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Jumia: 'africa's Amazon' In Landmark Stock Market Listing - Business - Nairaland

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Jumia: 'africa's Amazon' In Landmark Stock Market Listing by deji17: 1:24am On Apr 14
Jumia: 'Africa's Amazon' in landmark stock market listing
12 April 2019

Jumia delivers goods via scooter and offers a variety of payment options
Shares in Africa's largest e-commerce firm have debuted on the New York stock market, which could see other tech start-ups on the continent follow suit.

Jumia is listing 17.6% of the company at $14.50 a share, giving the company "unicorn" status - a technology start-up worth $1bn-plus.

It is the first tech start-up from Africa to float on Wall Street.

The so-called "Africa's Amazon" has 4 million customers on a continent where just 1% of retail sales are via online.

Jumia was founded in Lagos, Nigeria, by two French entrepreneurs in 2012 and now offers services to most of the African population, in countries such as South Africa, Tanzania, Egypt and Ivory Coast.

Its largest shareholder is MTN, Africa's biggest telecoms company.


Media captionA Jumia Food customer orders food on the app
The company said on Friday that the flotation on the New York Stock Exchange would raise $196m (£150m) for shareholders and for future investment. Jumia's financial advisers had been pitching the shares to investors at between $13-$16 each.

Jumia operates in 14 countries, including Kenya, Ghana, Algeria, Angola, and Senegal. The website sells everything from electronics to clothes, and there is a hotel and flight booking site, and a takeaway food delivery platform. In Kenya, Jumia has teamed up with French supermarket giant Carrefour to offer online deliveries.


The company's sales jumped by almost 40% last year to $147.3m.

The BBC's Africa Business Editor, Larry Madowo, said that Jumia was not yet profitable and had accumulated losses of nearly $1bn since it was founded.

Although there are technical and infrastructure hurdles to growing Africa's online retail market, he said a big selling point was that Jumia accepted mobile money payments across a continent where few people have credit or debit cards.

However, he said Jumia faced tougher competition. "Its initial public offering coincides with the launch of a competing app from global logistics provider DHL allowing consumers in 11 African countries to buy directly from global retailers.

"The DHL Africa eShop brings together more than 200 American and British retailers and will deliver directly to homes, something Jumia has struggled with."

Erik Hersman, chief executive of Nairobi-based internet and software firm BRCK, said Jumia's listing sent an important signal to other African start-ups that a major stock market listing was possible.

"It's an important event in the evolution of the African tech scene," he told the BBC last month.

https://www.bbc.com/news/business-47909150?ocid=socialflow_facebook

2 Likes 3 Shares

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by deji17: 1:26am On Apr 14
Jumia’s stock is soaring on its first day of trading on the New York Stock Exchange


By Yomi Kazeem

April 12, 2019


Jumia’s historic initial public offering has gone live trading on the New York Stock Exchange—and its stock shot up.

After the ceremonial ringing of the NYSE bell by company executives, Jumia’s first official day of trading on the New York Stock Exchange began. And, as investors specialized in backing e-commerce companies in emerging markets predicted to Quartz Africa, Jumia garnered investor interest and enjoyed an impressive first day run. Its stock, which was priced at $14.5, closed up 75%.


While the sharp jump on its first day of trading signals a positive outlook from investors, it is by no means a permanent trend as another recent high-profile tech IPO proves. After launching amid strong interest and gaining on its share price on its first trading day, ride-hailing company Lyft has broken its IPO price just two weeks after its launch.


Jumia’s major executives including Sacha Poignonnec, co-CEO of Jumia Group, and Juliet Anammah, chief executive of Jumia Nigeria, were present to ring the opening bell on the exchange ahead of the launch. With its shares priced at $14.5 after initially setting a share price range between $13 and $16, Jumia offered 13.5 million shares for purchase and raised $196 million. The stock opened at $18.95.


Jumia co-CEO Sacha Poignonnec applauds as Jumia Nigeria CEO Juliet Anammah, center, rings a ceremonial bell when the company’s stock begins trading, on the floor of the New York Stock Exchange,
The listing is a watershed moment for Africa’s tech ecosystems as Jumia, the largest e-commerce company on the continent with operations 14 countries, is the first Africa-focused tech company to launch on NYSE or any major global exchange—and that novelty was played up throughout the launch event.

https://qz.com/africa/1594036/jumia-ipo-shares-up-more-than-50/

1 Like

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by deji17: 1:40am On Apr 14
Jumia History
In 2012, Jeremy Hodara and Sacha Poignonnec, ex McKinsey consultants, founded Jumia along with Tunde Kehinde and Raphael Kofi Afaedor.

Jumia was launched in Lagos in 2012 and it expanded to five other countries, Egypt[5], Morocco, Ivory Coast, Kenya and South Africa. In 2014, the company launched offices in Uganda, Tanzania, Ghana, Cameroon, Algeria and Tunisia and it was present in 14 African countries in 2018[6]. In Egypt Jumia has been trying to categorize itself as one of the leading e-commerce websites.[7]

Jumia's platforms are Jumia Travel a hotel booking platform, Jumia Food, a food delivery platform [8] both launched in June 2013. Jumia Deals was launched in April 2015. In 2017, Jumia launched Jumia One[9], an app that enables customers to pay bills such as airtime. The same year, Jumia launched Jumia Pay[10], a secure payment for people to shop on all Jumia services. This was followed by the Jumia lending program[11], an initiative that allows its vendors to access business loans. Jumia would later partner with Amadeus technology[12], to launch a platform that enables people to book flights.


Juliet Anannah: CEO in Nigeria
At the end of 2015 the founders of Jumia appointed Juliet Anammah as the CEO of Jumia Nigeria in order that they could concentrate on global control of the company.[13] In 2015, Jumia generated $234 million in revenue which stands for a 265% growth from 2014. In 2016, Jumia became the continent’s first unicorn being valued over 1 billion USD.[14] In late November 2018, Jumia partnered with cryptocurrency company Telcoin to enhance payment service capabilities throughout their areas of operation.[15] The same month, Jumia and Carrefour signed a partnership to sell online products in Africa.[16]

In 2019, Jumia filed paperwork for an initial public offering on the New York Stock Exchange (NYSE).[17] If approved, this would make Jumia the first African technology company to be listed on the NYSE.

Jumia:
Type :Public
Traded as NYSE: JMIA
Industry: Internet, Retail, Ecommerce, Marketplace
Founded 2012
Headquarters: Ikeja, Lagos State, Nigeria
Key people
Dominic Thomas (CEO)
Jérémy Hodara (CEO)
Sacha Poignonnec (CEO)
Tunde Kehinde
Raphael Kofi Afaedor
Number of employees :4000
Website: www.

https://en.wikipedia.org/wiki/Jumia

2 Likes 1 Share

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by kingkunle2017(m): 1:44am On Apr 14
ok.
Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by btrocky09(m): 1:44am On Apr 14
Okay




I have some iPhones for sale, check my signature
Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by MisterGrace: 1:51am On Apr 14
Read about it earlier. This is truly beautiful.

The consistency and smart hard work finally paid off.

It is not easy for an online shop to thrive in Nigeria and Africa considering so many factors. But Jumia have found its way around.

This is amazing.

11 Likes 3 Shares

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by gtrader: 1:53am On Apr 14
Wow... Very impressive. I'm gonna buy some good number of shares from them. Kudos to Jumia

2 Likes 2 Shares

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by Isoduwa(m): 1:57am On Apr 14
Nigerian is a goal � we are getting there � by fire by thunder

2 Likes 1 Share

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by Virus99(f): 1:59am On Apr 14
Well Kwarasell.com is coming... And we gonna knock them off the chart soon. cool

1 Like

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by vicoloni(m): 1:59am On Apr 14
This is the 2nd news I’m reading about Nigeria in the last 24 hours... first is the recognition of some Anambra girls and boys rated by Silicon Valley as worth billions of dollars

Congratulations to Jumia, Nigeria and Africa

7 Likes

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by Tolzeal(m): 2:00am On Apr 14
Isoduwa:
Nigerian is a goal � we are getting there � by fire by thunder

Please remove that thunder nonsense! It's late already

13 Likes

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by HajimeSaito(m): 2:00am On Apr 14
"The DHL Africa eShop brings together more than 200 American and British retailers and will deliver directly to homes, something Jumia has struggled with."

Ope o, so I can finally ditch Amazon and AliExpress knowing that there is an international retailer made SPECIFICALLY for the Nigerian market grin grin grin

9 Likes

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by Tolzeal(m): 2:00am On Apr 14
Virus99:
Well Kwarasell.com is coming... And we gonna knock them off the chart soon. cool

Selling to kwara folks and looking at dominating ? You're a big joke.

14 Likes 2 Shares

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by sonnie10: 2:06am On Apr 14
If I had some spare money I would buy but for the fact that it has not made any profit for a while is not encouraging.
Anyway, Amazon was like that at a point when they were building those mega fulfillment centers.
Jumia might have to tell us why they are not making profit yet

1 Like

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by Isoduwa(m): 2:07am On Apr 14
Tolzeal:


Please remove that thunder nonsense! It's late already



You be witch?

1 Like

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by seborrhic: 2:21am On Apr 14
"Jumia began operations in Nigeria in 2012".
Says a lot about the operating environment then.
I think Konga too was founded around that same period or thereabouts,but at least pre 2015.
ShopRite stores too with JustRight.
Infact pre 2015 was when big supermarkets made a re entry into Nigeria with massive expansions round the country.
These and many other such companies brought a lot of foreign exchange and jobs most especially.
I maybe mistaken,but I can't recall ShopRite opening any new outlet since 2015 or 2016 when a certain leader started discouraging investments through his hogwash,but most times non existent economic policies.
I also wish Konga well and would welcome other major players entering the online retail business.
Jobs,direct and indirect are aplenty in that field.
The next big area either banks,other financial outfits or big time retailers should delve into and indeed conquer, particularly financial institutions,is the credit market industry.
There is a lot of money to be made in this field, especially with BVN now in play, because it would drive up the consuming perchant of Nigerians,knowing they can pay for their needs in instalments,freeing up cash for other more immediate concerns.

13 Likes 1 Share

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by googi: 2:24am On Apr 14
Oya, another milestone!

Igbo Amaka!

2 Likes 1 Share

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by seborrhic: 2:34am On Apr 14
sonnie10:
It I had some spare money I would buy but for the fact that it has not made any profit for a while is not encouraging.
Anyway, Amazon was like that at a point when they were building those mega fulfillment centers.
Jumia might have tell us why they are not making profit yet
It takes years for many honest business outfits to make profits.Forget many corrupt nigerian business concerns or businessmen that declare profits overnight.They,some,not all though,either pad their books,are corrupt or are making it through government patronage or funds.
It's their outlook,sales turnover and immediate to future financial projections institutions look out for.
Once a bank knows you are in a very comfortable position to service your debt,with a good outlook,they still back you,despite your present non- profit position.At least 10years is the benchmark all concerned look out for.
Despite their books showing they are presently operating at a loss,are you not surprised they still had the confidence to not only plan to,but were actually approved to list on the NYSE,with it's stringent rules and benchmarks to pass?
Then look at the confidence stockbrokers showed in the stock,albeit,it's early trading days?
We can only just wish them well.
I was really excited to know Jumia was founded in Nigeria and branched out from here.I had always thought that they,just like ShopRite started in South Africa years ago and then expanded to Nigeria.

13 Likes 3 Shares

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by DisGuy: 2:50am On Apr 14
If they can team up with Carrefour in Kenya, they should be able to get similar partnership with Shoprite for home deliveries.

Goodluck to Jumia. Companies listed on stock exchange usually have better corporate governance and focus

6 Likes

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by lyriclekidd(m): 2:55am On Apr 14
Steady breaking borders.

Paste your giftcards and bitcoin for instant payment.

1 Like

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by darkcaesar03360: 3:03am On Apr 14
Junia is undoubtedly the biggest sales channel in Nigeria, Konga and would continue trailing

2 Likes

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by Sunnyshinylight(f): 3:13am On Apr 14
My people

1 Like 1 Share

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by Eagba: 3:15am On Apr 14
gtrader:
Wow... Very impressive. I'm gonna buy some good number of shares from them. Kudos to Jumia
you have to be careful lest you're left holding the bag

1 Like

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by datola: 3:35am On Apr 14
Congratulations to Jumia, once rated among 50 smartest start up company in the world by MIT.

Jumia, started in Lagos by Tunde and Afeodo but now headquartered in Germany and Dubai with top executives in France and development team in another part of Europe.

The company was able to overcome a lot of Nigerian factors that has beleaguered smaller rival Konga.

Jumia controlls over 70% Nigeria's e-commerce market share.

I wish Konga will find its feet by reclaiming pre acquisition market share and values.

9 Likes 1 Share

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by Fogman(m): 3:41am On Apr 14
Congratulations to Jumia. Wishing Konga all the best too

5 Likes

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by bamasite(m): 3:56am On Apr 14
They sent mail to merchants.

So I got the gist earlier.....

But unserious buyers are scaring away merchants!

2 Likes

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by Burgerlomo: 3:59am On Apr 14
Lovely cool

1 Like 1 Share

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by mimilogistics: 4:04am On Apr 14
The fastest way to make money as a young entrepreneur in the world now and end your unemployment status is by starting an e-commerce business. E-commerce business is so versed and diversified, it can accommodate the whole world, so don't be scared of competition, just focus on selling unique products & services that solve people's daily needs, and you will definitely become successful with time.

But then, you can only sell on konga, jumia, etc if you live in Lagos Nigeria.

But with Mimi Logistics (MiMiL) you don't have to worry about selling on konga or jumia no matter where you live in the world. We have been helping Chinese merchants and others sell in Nigeria through our unique Sell in Nigeria ecommerce services.

- We will help you store your goods in our Lagos warehouse free of charge! We don't charge you for warehousing.

- We will only charge you a token for packaging and dropoff at Jumia or konga office when you have new order for your product stored in our Lagos warehouse.

- Our dropoff charge is even cheaper than the cost you will incur if you decide to dropoff your orders by yourself if you live in Lagos. What this means is, even if you live in Lagos and you are already selling on jumia or konga or want to start selling on Jumia or Konga, and maybe you are working or schooling or busy with other things, then bring your goods and store with us free and use our dropoff service because it is cheaper for you and will give you time to focus on your job or other business in case you are working.


You can send us a Private Message for more details, we derive joy in helping small and large businesses grow and make more profit.

Come and grow with us, let us grow together with joy kiss
Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by Creampro: 4:27am On Apr 14
This is just hype and format...if you know you know.

Payment on delivery killed ecommerce in Nigeria.

1 Like

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by OSUigboKiller: 4:27am On Apr 14
How can one buy the shares??

1 Like

Re: Jumia: 'africa's Amazon' In Landmark Stock Market Listing by ikorodureporta: 4:31am On Apr 14
NL, so btw wen I sleep & now naiem all these topics enta fp

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