Jumia \u2013 Africa\u2019s fastest growing e-commerce retailer with operations in Nigeria, Egypt and Morocco \u2013 and Zando \u2013 the #1 fashion retailer online in South Africa \u2013 announced an investment by J.P. Morgan Asset Management recently. The investor will take a stake through a
\nGerman holding company in an all cash-for-equity investment.<\/p>\n
Jumia was launched in spring 2012 and offers a wide range of general merchandise categories such as fashion apparel, shoes, electronics, mobile phones, books, toys, beauty products and many more categories. The company currently operates in Nigeria, Egypt and Morocco, with plan to expand in additional countries in the coming months. <\/p>\n
The company was launched with the support of Rocket Internet \u2013 the European incubator of internet start-ups.<\/strong><\/p>\n \u201cThis investment is a real turning point for Jumia, and e-commerce in Nigeria\u201d said Jumia cofounders and joint-CEO\u2019s Tunde Kehinde & Raphael Afaedor. \u201cWith this investment, we will strengthen our current footprint, offering our customers more brands, more categories and \u201cAttracting such a reputable international investor to support our future growth shows commitment and confidence in our business,\u201d said Zando\u2019s Co-founder and Managing Director, Manuel Koser. \u201cAt ZANDO customer satisfaction is very important to us. This investment will assist the business by supporting its vision and all of its operations.\u201d<\/p>\n J.P. Morgan Asset Management Portfolio Manager Robert Cousin, who worked on the deal from New York, commented further saying, \u201cWe are excited to partner with Jumia and Zando as the companies continue to expand their e-commerce presence in Africa.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" The investor will take a stake through a German holding company in an all cash-for-equity investment…<\/p>\n","protected":false},"author":20,"featured_media":25404,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1470],"tags":[1663,1671,1888,1437,2082,2035,1911,2239,1702],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/25406"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=25406"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/25406\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/25404"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=25406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=25406"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=25406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nmore services as well as improving operations; we are among the pioneers of e-commerce in Nigeria and this investment confirms that Nigeria will become a very large market in the very near future.\u201d<\/p>\n