Africa’s digital commerce sector is entering a new chapter, one defined not by speculation, but by strategic partnerships that reflect long-term confidence in the continent’s growth. One of the most significant developments in this space is AXIAN Telecom’s recent acquisition of a 9.18% stake in Jumia, the leading e-commerce platform operating across multiple African markets. According to the latest filing with the U.S. Securities and Exchange Commission, AXIAN increased its position from 8% after purchasing additional shares on Friday.
This investment is more than a financial transaction, it is a clear endorsement of Jumia’s renewed strategic direction, operational discipline, its fintech potential through JumiaPay, and its growing relevance in the continent’s e-commerce and digital space. With Jumia doubling down on logistics efficiency, marketplace growth, and robust supply, AXIAN’s involvement positions the company for deeper market integration and broader impact in the continent’s fast-evolving digital landscape.
AXIAN’s entry into Jumia’s shareholder base brings together two powerhouses: a telecom and digital services conglomerate with a growing footprint across Africa, and a tech-driven e-commerce platform with deep market knowledge. This synergy unlocks significant opportunities – from mobile commerce integration and data-led consumer engagement, to improved last-mile delivery powered by better connectivity and payment infrastructure.
In a statement accompanying the announcement, AXIAN Telecom CEO Hassan Jaber said the company is “supportive of Jumia’s strategic vision,” describing Jumia’s retail, logistics, and fintech capabilities as crucial drivers of economic and financial inclusion across the continent.
Crucially, AXIAN has also signaled intent to explore the use of Jumia’s payment gateway, JumiaPay, within its fintech ecosystem – positioning Jumia not just as a merchant platform, but as a payment enabler for broader digital use cases. This is a compelling validation of JumiaPay as a foundational layer for Africa’s digital economy, capable of powering merchant payments and more.
As Jumia evolves into a more streamlined and sustainable business, the support of a strategic investor like AXIAN reflects the confidence that serious, long-term players have in Jumia’s vision and Africa’s e-commerce potential.
Jumia’s Nigeria growth: A strong foundation
Jumia’s performance in Nigeria, its largest market, underpins much of this renewed confidence. According to the company’s Q1 2025 earnings, orders in Nigeria were up 22%, with Gross Merchandise Value (GMV) rising 20% year-over-year, underscoring both user engagement and operational effectiveness in a tough macroeconomic environment. This momentum follows a strong 2024, when Jumia reportedly achieved high double-digit growth in Nigeria in constant currency, despite inflationary pressures and a weakening naira.
A former executive close to the company’s Nigeria operations confirmed that order volumes and active customers grew significantly during 2024, adding that “Nigerians are clearly seeing value in Jumia’s services, the model is proving resilient and relevant.”
This data point further underlines the platform’s role as a long-term player in Nigeria’s commerce ecosystem, not just for urban consumers, but increasingly for informal sellers and small businesses leveraging the platform’s reach and infrastructure as well as consumers in underserved communities.
One of the most promising trends Jumia is tapping into is social commerce. In a country where WhatsApp and Instagram sellers dominate informal retail, Jumia is building digital rails that allow social sellers to reach more customers and leverage last-mile delivery services. This is particularly empowering for women entrepreneurs and youth-led ventures. Jumia’s delivery expansion is not only improving customer experience, it’s also transforming how small and medium-sized enterprises (SMEs) operate. By offering affordable nationwide logistics, Jumia is enabling Nigerian businesses to scale beyond their immediate environments, fueling local economies and reducing the digital divide.
Over the last two years, Jumia has recalibrated its operations: exiting unprofitable markets, consolidating its product offerings, and focusing on core regions where it sees long-term potential. The result? Five consecutive quarters of improved Gross Profit After Fulfillment, better unit economics, and a clearer roadmap to profitability.
The company’s new direction reflects maturity – a move away from a growth-at-all-costs model to a focus on building a sustainable, tech-driven ecosystem that truly fits the African context.
Jumia is evolving from a pure marketplace into a digital platform that supports commerce, logistics, payments, and entrepreneurship. It is this vision – of an Africa-centered, mobile-first infrastructure for commerce that has attracted partners like AXIAN, and that continues to inspire optimism among those who understand the nuances of building in Africa.
Far from being a short-term bet, Jumia’s journey represents the resilience, innovation, and collaborative growth that define Africa’s next economic frontier.
