Jumia Technologies’ plan to expand its online retail and trading platform in less developed parts of Africa has long had one significant challenge: a lack of formal addresses for deliveries.
Interswitch, a Nigeria-based payments firm, has hired advisers to resurrect plans for a stock-market listing in London and Lagos later this year, people familiar with the matter said.
Wall Street is finally turning more bullish on Jumia Technologies as its debut results as a public company quelled some fears amid a scathing report from short-seller Citron Research.
When e-commerce platform Jumia listed in New York last month, it was heralded as Africa’s first unicorn to go public.
MTN Group plans to sell at least half of its R9.4-billion interest in newly listed Jumia Technologies, according to people familiar with the matter.