It may not matter directly to you. But if you are an African founder with a plan to list on a foreign exchange, investors will open one book – the Jumia book. Yes, they will check how the company has performed in the NYSE. Because Jumia self-baptized itself as “Africa’s first” in the big board, what happens to it matters. But as it stands, gravity is pulling Jumia badly.
It began life at $14.50 reaching the summit at $49.77. Today, it is at $17.02. Jumia needs a breakthrough, urgently, as the trajectory does not look good. It needs to play double play as it has accumulated capabilities to do just that. That is the promise, not just adding “e” before “commerce”.