Axian Telecom Tightens Grip on Jumia With Board Appointment Move
If approved, his appointment would run until the company’s 2026 annual general meeting, cementing Axian’s direct role in Jumia’s governance at a pivotal moment for the online retailer.
Jumia Technologies AG has confirmed that Axian Telecom has become its largest shareholder, acquiring nearly 10% of the e-commerce company’s stock. According to regulatory filings, Axian now controls 24.4 million ordinary shares, equivalent to about 12.2 million ADS, representing 9.97% of Jumia’s outstanding shares.
In a related move, Jumia’s Management Board has petitioned a Berlin court to appoint Hassanein Hiridjee, founder and director of Axian Telecom, to its Supervisory Board. The request follows a string of board resignations that left Jumia’s six-member board understrength.
Axian’s growing influence signals a strategic bet on Africa’s largest e-commerce platform, which has been restructuring under CEO Francis Dufay to cut losses and stabilize growth. Hiridjee, a telecoms and infrastructure investor with deep African exposure, has pledged to support Jumia’s “continued growth and success.”
If approved, his appointment would run until the company’s 2026 annual general meeting, cementing Axian’s direct role in Jumia’s governance at a pivotal moment for the online retailer.
