Wednesday, July 30, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Funding

Jumia, an African e-commerce company, has raised $99.6 million through a secondary share sale

Tech Gist Africa by Tech Gist Africa
08/20/2024
in Funding, Investments, News
0 0
0
Jumia shares

Jumia shares

0
SHARES
Share on FacebookShare on Twitter

Jumia Technologies AG ($JMIA), the African e-commerce giant, has effectively concluded a secondary offering, generating $99.6 million through the sale of 20 million ordinary shares, just days after the announcement.

This corresponds to an average selling price of approximately $4.95 per share, which is marginally higher than the trading price of $4.90 on the previous Friday.

It is worth noting that Pernod Ricard, a global spirits and wine company, acquired 1.27 million shares for approximately $6 million.

According to a Wall Street analyst, Jumia’s cash reserves, which were $92.8 million in the second quarter, may result in a $65 million loss in 2024.

Jumia’s liquidity is anticipated to be substantially enhanced by the $99 million raised in this offering. Nevertheless, the organization has yet to provide an official statement regarding the disposition of its shares.

Despite Jumia’s failure to meet its revenue targets for the second quarter of 2024, investor confidence in the company’s capacity to succeed in the African e-commerce market remains robust, a critical factor in the company’s ongoing expansion.

Jumia intends to allocate the funds to the enhancement of its customer acquisition initiatives, the expansion of its supplier network, and the enhancement of its distribution infrastructure.

The company will also allocate resources to the technology that underpins its vendor services and marketing division, which has been accessible to customers since 2021.

 

Read more on Tech Gist Africa: 

HAVAÍC, a South African venture capital firm, has closed the $15 million first close of the US$50 million African Innovation Fund 3

MNT-Halan, an Egyptian fintech, has raised $157.5 million in funding

Cartona, an Egyptian B2B e-commerce startup, has secured a $8.1 million Series A extension

 

ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

telecommunications
Mobile networks

Cameroon Fines MTN and Orange $4.6 Million for Poor Service Delivery

by Tech Gist Africa
07/11/2025
0

Cameroon’s telecom regulator has issued fines totaling approximately 2.6 billion CFA francs (around US $4.6 million) to MTN Cameroon and Orange...

Read more
Cerebrium South Africa

Cerebrium, a South African AI startup raises $8.5 million seed funding

07/11/2025
Aria Ventures Egypt

Aria Ventures Launches $1 Million Fund to Boost Deep‑Tech Investment in Egypt

07/10/2025
BuuPass QuickBus Kenya

BuuPass, a Kenyan mobility startup has secured strategic funding from Yango Ventures

07/10/2025
Complete Farmer Ghana

Complete Farmer, a Ghana-based agritech company Raises $2.5 Million

07/09/2025
Next Post
Waza Nigeria

Waza, a Nigerian B2B payment startup, has secured $8 million in funding

E-governance Africa

Digital Transformation in Government: E-Governance Initiatives in Africa

Artificial Intelligence

Artificial Intelligence and Machine Learning in African Industries

No Result
View All Result

The Big 5

Innovation Hub

Corporate Innovation: How Major Companies are Fostering a Culture of Disruption

by Tech Gist Africa
07/28/2025
0

...

Africa Tech

Tech Diplomacy: How Africa is Leveraging Technology for International Relations and Development

by Tech Gist Africa
07/21/2025
0

...

Media and Entertainment

How African Technology is Changing the Face of Media, Entertainment, and Digital Content

by Tech Gist Africa
07/14/2025
0

...

Ecobank

Ecobank, Google Partner to Boost Financial Inclusion and Innovation Across Africa

by Tech Gist Africa
07/08/2025
0

...

AWIEF

AWIEF 2025 Awards Nominations Now Open to Celebrate Africa’s Top Women Entrepreneurs

by Tech Gist Africa
07/08/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.