MTN Group is planning to sell part or all of its R4.2-billion interest in Jumia Technologies as it looks to pay down debt and enter new markets, according to people familiar with the matter.
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MTN is seeking sale of R4.2-billion Jumia stake: sources
R20-billion Jumia IPO could help MTN reduce debt burden
African online retailer Jumia is planning an initial public offering in New York this year that could value the business at about $1.5-billion, according to people familiar with the matter.