Pan African ecommerce site Jumia has filed for an initial public offering (IPO) on the New York Stock Exchange.
Rumours of this action has been on for quite some time but according to Techcrunch, this is the first time that the CEO Sacha Poignonnec is confirming the action.
Though the CEO did not confirm the date for the actual IPO, he noted that the minimum SEC timeline for beginning sales activities (such as road shows) is 15 days after submitting first documents.
With this, Jumia will become the first African tech startup to list on a major global exchange.
“You’ll see in the prospectus that last year Jumia had 4 million consumers in countries that cover the vast majority of Africa. We’re really focused on growing our existing business, leadership position, number of sellers and consumer adoption in those markets,” Poignonnec said.
