Axian Telecom Reportedly Eyes Potential Takeover of Jumia
TLDR
- Axian Telecom is exploring a possible acquisition of Jumia Technologies AG, Africa’s largest e-commerce platform
- The Mauritius-based telecom operator recently raised $600 million, partly to fund the potential deal
- Jumia currently holds a market value of about $500 million and the proposed deal could support both companies’ ambitions to scale across Africa
Axian Telecom is exploring a possible acquisition of Jumia Technologies AG, Africa’s largest e-commerce platform, according to people familiar with the matter cited by Bloomberg. The Mauritius-based telecom operator recently raised $600 million, partly to fund the potential deal. Jumia currently holds a market value of about $500 million.
Sources say Axian has already built an 8% stake and may seek to delist Jumia from the New York Stock Exchange. While no final decision has been made, the proposed deal could support both companies’ ambitions to scale across Africa. Representatives for Axian and Jumia declined to comment.
Following the report, Jumia’s U.S.-listed shares jumped as much as 17%, later trading up 5.7% at $4.25. The stock is up 11% year-to-date.
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Key Takeaways
Axian Telecom’s potential move on Jumia reflects a growing trend of convergence between digital infrastructure and consumer platforms in Africa. Jumia has faced profitability challenges since its IPO in 2019, despite early hype around its “Amazon of Africa” branding. The platform had to build logistics and mapping tools from scratch in several markets due to infrastructure gaps. Axian, with telecom operations in Madagascar, Tanzania, Togo, and Senegal, offers the kind of pan-African connectivity backbone that could unlock deeper synergies. A merger could give Jumia enhanced distribution via mobile channels, while Axian gains access to e-commerce, payments, and last-mile delivery capabilities. For investors, the deal signals increasing consolidation in Africa’s digital economy as telecoms and fintech players seek integrated platforms to drive scale and monetisation.
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