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Jumia shares in E- commerce firm on NY market

This week, Shares in Africa’s largest e-commerce firm have debuted on the New York stock market, which could see other tech start-ups on the continent follow suit.

Ronnie Kawamala the CEO jumia Uganda says, Jumia is listing 17.6% of the company at $14.50 a share, giving the company “unicorn” status – a technology start-up worth $1bn-plus.

It is the first tech start-up from Africa to float on Wall Street.

The so-called “Africa’s Amazon” has 4 million customers on a continent where just 1% of retail sales are via online.

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