AXIAN Telecom, a fast-growing telecom and digital services group in Africa, has acquired an 8% stake in Jumia Technologies, the continent’s leading e-commerce platform.

The investment was made public through a filing with the U.S. Securities and Exchange Commission (SEC) on May 31, 2025.

This move shows AXIAN’s strong belief in Jumia’s future and in Africa’s growing digital economy.

“We believe Jumia is in a great position to drive financial and digital inclusion in Africa. That’s why this is the right investment for us,” said Hassan Jaber, CEO of AXIAN Telecom.

AXIAN’s backing comes at a critical juncture for Jumia, which has spent the past two years restructuring its operations under CEO Francis Dufay. Since his appointment in 2022, Dufay has led a comprehensive overhaul of the business, cutting losses, narrowing focus, and pivoting to profitability.

As part of this transformation, Jumia exited unprofitable markets, including South Africa and Tunisia, both of which were deemed to have limited growth potential.

“We made the difficult decision to shut down in these markets after a detailed evaluation,” said Dufay. “Our focus now is building a leaner, more profitable Jumia in core markets.”

Those core markets include Nigeria, Kenya, Egypt, and Morocco, regions with higher customer demand and stronger e-commerce potential.

With its marketplace refocused, Jumia is also betting big on digital financial services and logistics innovation. Through its JumiaPay platform, the company is deepening its role in payments, utility bills, and mobile financial transactions.

In a recent interview on The TechTrends Podcast, Vinod Goel, Jumia’s East African Regional CEO, outlined bold goals:

“Our innovations are not just about improving the user journey but about adding value across Africa’s broader digital commerce ecosystem,” Goel said.

Jumia is facing tough competition from global giants like Temu and Shein, who are entering African markets.

As of June 3, 2025, Jumia’s shares (NYSE: JMIA) were trading at $3.28, slightly down on the day but showing increased attention following AXIAN’s disclosure.

Analysts suggest that long-term investor sentiment may now shift positively as the market digests Jumia’s sharpened strategy and strong backing.