AXIAN Telecom Acquires a Minority Stake in Jumia

AXIAN Telecom has stepped into the eCommerce ring with an 8% minority stake in Jumia, a move that signals growing confidence in Africa’s digital market. With operations in nine countries, the pan-African telecom firm appears keen on shaping the continent’s online shopping future—starting with Jumia.

In an official statement, AXIAN Telecom CEO Hassan Jaber highlighted Jumia’s reach and infrastructure across fintech and logistics.“We believe Jumia’s achievements in digital retail infrastructure and fintech through JumiaPay, as well as its logistics strengths, place it in a position to promote financial and economic inclusion,” said Jaber. He called the investment a natural fit with AXIAN’s values.

The cash injection comes at a time when Jumia is facing a steep uphill battle. The eCommerce trailblazer, once celebrated as Africa’s answer to Amazon, has been navigating a stormy financial phase. Its Q1 revenue slump led to Baillie Gifford, a major institutional investor, pulling out entirely.

Jumia’s Survival Plan Gets a Fresh Lifeline

The company’s woes are no secret. Under CEO Francis Dufay, Jumia has shifted focus from rapid growth to tightening its belt. Marketing budgets have been slashed, while resources are being redirected toward retaining loyal customers rather than chasing new ones.

While the approach has cut costs, it hasn’t done much for revenue. Meanwhile, international giants like Temu and Shein are rapidly expanding across Africa, drawing attention—and customers—away from local platforms like Jumia. The added pressure has forced Jumia to rework its strategy, including closing operations in low-performing markets and trimming down product offerings.

Yet, all hope is far from lost. Jumia has been strengthening ties with Chinese suppliers to reduce overheads and optimise its supply chain. And now, AXIAN Telecom’s backing may offer the financial buffer and strategic support needed to weather this rough patch.