Rocket Internet sells all shares in Jumia
Rocket Internet, the German investor behind ecommerce company, Jumia has sold its stake in the company according to a Reuters report. Jumia is the largest ecommerce company in Africa.
The investor which had 11 percent stake in Jumia said on Thursday it sold its holding between November 8 and the onset of the coronavirus crisis.
Bettina Curtze, the firm’s head of finance and investments, told journalists that the shares were included in the 2.1 billion euros ($2.30 billion) of net cash the company had as of March 31.