New York Stock Exchange

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MTN Group sold its 18,9% stake in Jumia Technologies

MTN Group has announced that it has sold its 18,9% stake in New York Stock Exchange-listed Jumia Group. This ends MTN's journey as an investor in Jumia since 2013.

Rocket Internet has sold all its shares in Jumia

With several e-commerce companies across the continent having found it difficult to become profitable or even gain traction, the sale by Rocket Internet and possible sale by MTN Group could be interpreted as a vote of no confidence in the continent's e-commerce industry currently.