MTN seeking to sell Jumia stake – reports say
August 6, 2020
MTN Group’s decision comes at a time where Jumia’s shares surged 142% this year.
In an attempt to reduce its dept, Africa’s biggest wireless carrier is looking into selling its stake in “Africa’s Amazon”, the online platform Jumia. As reported by Bloomberg, MTN claimed that the online retailer is not part of its core business.
Private sources told Bloomberg News that no decision about the sale has been reached yet. Jumia, Africa’s largest online retailer, is operational in 14 African countries including Nigeria. Jumia’s shares surged 142% this year, recovering from a dip in 2019