Jumia’s largest investor exits with likely multimillion-dollar loss
- Baillie Gifford sold its entire 18 million-share stake in Jumia, reducing ownership from 7.4% to 0%.
- Jumia's share price dropped from over $26 in 2019 to around $2.5 at the time of Baillie Gifford's sale.
- Jumia's Q1 2025 report showed a 26% year-on-year revenue decline, totaling $36.3 million.
The complete divestment by Baillie Gifford signals a lack of confidence in Jumia's future prospects, particularly in light of its declining revenues and the fierce competition from established global players. This raises concerns about Jumia's ability to attract further institutional investment and achieve its profitability goals amidst such challenges.
