Shares in Africa's largest e-commerce firm have debuted on the New York stock market, which could see other tech start-ups on the continent follow suit. Jumia is listing 17.6% of the company at $14.50 a share, giving the company "unicorn" status - a technology start-up worth $1bn-plus. It is the first tech start-up from Africa to float on Wall Street. The so-called "Africa's Amazon" has 4 million customers on a continent where just 1% of retail sales are via online. The company said on Friday that the flotation on the New York Stock Exchange would raise $196m (£150m) for shareholders and for future investment.

Source: The Star April 12, 2019 16:07 UTC