Jumia's Strategy to Increase User Growth Through Secondary Share Offering

Tuesday, 6 August 2024, 23:00

Jumia, the leading African e-commerce company, is set to sell 20 million American depositary shares in a bid to raise more than $100 million. This move comes as the company seeks to address its recent user growth challenges. By leveraging these funds, Jumia aims to enhance its platform and attract more customers, positioning itself for future growth in the competitive e-commerce landscape.

TechCrunch — Jumia's Strategy to Increase User Growth Through Secondary Share Offering

Overview of Jumia's Share Offering

African e-commerce company Jumia is undertaking a significant financial initiative by offering 20 million American depositary shares in the coming weeks. This plan aims to raise over $100 million to support its business strategies.

Objectives of the Secondary Share Sale

Enhance platform capabilities
Attract new users and retain existing ones
Address stalled user growth

Conclusion

With this strategic move, Jumia is positioning itself to overcome recent challenges in user acquisition and strengthen its foothold in the African e-commerce sector.

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