Following announcements of successive closures of its subsidiaries in Cameroon, Tanzania, and Rwanda, Jumia must now face the departure of its long-standing shareholder, Rocket Internet.
Rocket Internet executives recently announced the sale of their remaining shares in the e-commerce company. The company, which specializes in online commerce and has been financially involved in Jumia since its creation in 2012, began its withdrawal in October.
The news is likely to impact Jumia's share price on Wall Street, where it successfully went public in 2019.
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