Jumia Technologies, one of the largest e-commerce companies operating in Africa, has listed on the New York Stock Exchange. In doing so, it has become the first African technology start-up to list on a major global exchange. Jumia’s listing on the NYSE has now propelled Africa’s online trading to a new high, signalling the rise of e-commerce in Africa.
But with major strides yet to be made in internet infrastructure, coupled with diverse and rapidly changing domestic markets, what is the actual status of E-Commerce in Africa? And what challenges lie ahead for Africa’s online trade? While the technology start-ups’ IPO in New York has drawn renewed attention to the emergence of new development opportunities in Africa, opinions have been mixed on whether the company is indeed indiginously African, Jumia maintains that it is.