Rocket Internet, the German investor behind e-commerce company, Jumia has sold its stake in the company according to a Reuters report. Jumia is the largest e-commerce company in Africa.
The investor, Rocket Internet which had 11 per cent stake in Jumia said on Thursday it sold its holding between November 8 and the onset of the coronavirus crisis.
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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.
