Jumia: Why dis Nigerian e-commerce company cari dia shares go New York instead of Nigeria Stock Exchange
Ogbonge African E-commerce company, Jumia Technologies AG bin announce on Friday, 12 April 2019 say dem don list dia company for di New York Stock Exchange (NYSE).
Dis one mean say investors wey get access to di NYSE go fit buy Jumia shares wey go let di shareholder own part of di company. Jumia bin start business for Lagos, Nigeria for 2012 before dem expand to some African kontries like Egypt, Morocco, Ivory Coast Kenya and South Africa. Investment Banker, Seun Oyajumo tell BBC Pidgin say e for make sense if to say Jumia bin list for di Nigerian Stock Exchange (NSE). "If Jumia list for Nigeria, we (Nigerians) wey dey buy goods from di company, go fit buy dia shares, we go fit participate if dem make profit too", oga Oyajumo tok. Oyajumo explain say Jumia no go fit list for Nigerian Stock Exchange because na only companies wey don dey make profit for some period of time fit list for there. According to Jumia IPO prospectus, di e-commerce company bin file for December 31, 2018 say dem don gada losses wey reach $974 million. Jumia neva make one single profit since dem start di company, according to BBC Business Africa editor, Larry Madowo. Jumia dey face serious competition afta dem list dia company as public company as one of dia competitors DHL wey be logistics company launch app wey go allow consumers from 11 African kontries to buy directly from retailers worldwide. Anoda investment banker wey no want make we tok im name tell BBC Pidgin say Nigerian investors dey focus more on how well company don perform over time while investors for obodo oyibo dey look how well company fit do for future. As Jumia neva do well in terms of profit since dem begin do e-commerce business for 2012, e no go dey possible for di company to make dia shares available for di NSE. Oga Oyajumo add say oda factors wey fit don make Jumia list for obodo oyibo na say investors - both private and individual - wey get di kain plenti moni wey Jumia dey find full for abroad and Nigeria economy still dey upcoming.