Jumia's listing at the New York Stock Exchange has drawn mixed emotions among Kenyans and the region. The E-commerce platform which runs in 14 African countries including Kenya has defend its move despite heavy criticism from the region. “We listed in a foreign market because that’s the place where people understand the business model best,” Jumia Kenya CEO Sam Chappatte told the Star. In an interview with CNBC television, Jumia CEO Sacha Poignonnec said Africa lacks enough proper developers and development. This policy blocks out Kenya from receiving the majority of Jumia’s corporate taxes because it’s a German Stock Corporation.

Source: The Star April 16, 2019 01:52 UTC