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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.

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