Jumia is selling 10 million American depositary shares to take advantage of strong results despite market volatility, potentially raising $100 million. The funds will be used to expand supply chain network, enhance logistics, invest in technology, and accelerate business growth.
CEO Francis Dufay stated the new funding will be used to scale the company faster, particularly in logistics reaching smaller cities, technology investment, and marketing. They aim to break even faster after focusing on cost management and efficiency.
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