Pan-African telecom provider Axian Telecom has announced the acquisition of an 8% stake in African e-commerce leader Jumia Technologies AG. While specific deal details remain limited, Axian emphasizes its ongoing dedication to advancing Africa’s digital economy through strategic investments in key companies like Jumia. This aligns with Axian’s core mission to deliver accessible, innovative, and inclusive digital services across the continent, primarily via its Yas mobile and Mixx by Yas fintech brands.
Despite Jumia’s recent financial struggles, including declining revenues and the exit from South African and Tunisian markets by the end of 2024, Axian sees significant value in the company’s digital retail infrastructure and fintech capabilities, especially through JumiaPay. According to Axian CEO Hassan Jaber, Jumia’s strengths in logistics and financial inclusion uniquely position it as an attractive investment aligned with Axian’s values.
Industry observers note that Jumia has shifted focus from aggressive customer acquisition to cost management and retention amid rising competition, notably from Chinese platforms Temu and Shein, leading to increased China-based merchant activity on Jumia’s platform.
Axian Telecom’s investment signals confidence in Jumia’s long-term potential to drive financial and economic inclusion across Africa’s growing digital landscape.
