AXIAN Telecom has formally revealed that it now beneficially owns 8.0% of the total shares of JUMIA Technologies. This was disclosed through a beneficial ownership report filing to the U.S. Securities and Exchange Commission (SEC).
This filing was required since JUMIA Technologies AG is listed on the New York Stock Exchange. Any individual or entity that acquires more than 5% of a company’s shares and intends to influence decisions through voting, board seats etc, is required to do so. As AXIAN Telecom now controls 8% of JUMIA’s shares, it can now influence shareholder votes or key strategic decisions.
Hassan Jaber, CEO of AXIAN Telecom, commented: “AXIAN Telecom’s management is supportive of JUMIA’s strategic vision, and we look forward to contributing positively to its growth and success where we can. 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 for the communities which it serves. This unique position makes JUMIA a very attractive investment for AXIAN Telecom, and one which is aligned with our core values.”
This filing indicates that AXIAN Telecom has a strategic interest in JUMIA Technologies and may be positioning itself to influence the company’s direction, pursue a partnership or consider a larger investment in the future. This is important to note for current shareholders.
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