AXIAN Telecom plans potential takeover of Jumia after increasing stake to 9.18, valuing the e-commerce firm at 52.5 million.
Jumias Q1 2025 orders rose 22, with growth in Nigeria supporting AXIANs digital commerce expansion ambitions across Africa.
AXIAN raised 600 million in bonds to refinance debt and possibly fund Jumia acquisition, boosting its pan-African telecom and fintech growth.
AXIAN Telecom, the pan-African telecom group led by Malagasy businessman Hassanein Hiridjee , is reportedly exploring a takeover of Jumia Technologies AG, often called Africas Amazon. This follows AXIANs recent increase in its stake in the e-commerce company to 9.18 percent , now valued at 52.5 million, up from 35 million in mid-June.
According to a Bloomberg report citing sources close to the matter, AXIAN Telecom, based in Mauritius and chaired by Hiridjee, is considering acquiring Jumia. This potential move reflects AXIAN Telecoms belief in the long-term potential of African digital commerce, especially as the sector seeks more sustainable growth through strong partnerships.
Potential deal could expand reachNeither Jumia nor AXIAN Telecom has confirmed the talks. Sources say a deal is not guaranteed, but if it happens, it could help both companies expand their presence across the continent. Founded in Nigeria in 2012, Jumia went public in New York in 2019.
Since AXIAN Telecom began increasing its stake in May, it has grown from 8 percent to 9.18 percent. This rise coincides with a more than 40 percent jump in Jumias American depositary receipts , pushing its market value closer to 600 million, currently about 571.9 million.
Despite this growth, Jumias shares are still well below their listing price of 25.46 per unit, currently trading at 4.67. Once celebrated as one of Africas unicorns, with a valuation over 1 billion, it has faced challenges, including building logistics and infrastructure to serve a young, tech-savvy population that depends heavily on smartphones to bridge gaps in services.