mo4ch:>Africa’s Amazon ready to make market debut on New York Stock Exchange | Mo4ch News

The largest e-commerce operator in Africa, Jumia, is expected to raise over $200 million at its initial public offering (IPO) this week. The IPO will become the first for e-commerce and tech businesses from Africa.Jumia, which will trade as “JMIA” on the New York Stock Exchange, has set a share price range of $13 to $16 and is offering 13.5 million American depository shares for purchase.The company, which was founded seven years ago, operates across 14 African countries including Nigeria, Kenya, Morocco, and Egypt. Jumia describes itself as “the only e-commerce business successfully operating across multiple regions in Africa.” The retailer’s customer numbers jumped 48 percent last year to about 4 million, thanks to surging smartphone use in Africa.Jumia is often tagged as an African Amazon and is widely expected to become the continent’s first tech unicorn (a venture-funded company valued at more than $1 billion). The company’s revenue rose by almost 40 percent last year to $147.3 m…