Axian Telecom CEO Joins Jumia’s Board Amid Acquisition Speculation
The African e-commerce landscape is buzzing with the news that Hassanein Hiridjee, the founder and CEO of Axian Group, has joined Jumia’s Supervisory Board. This appointment, disclosed in a recent SEC filing, comes at a pivotal moment for the eCommerce giant. The move, coupled with the departure of Angela Mwanza, Managing Director of Rockefeller Capital Management, from the board, fuels ongoing speculation about Axian’s intentions and the future of Jumia.
Axian’s Growing Influence and Potential Acquisition
Axian’s interest in Jumia has been steadily increasing. In June 2025, reports indicated that Axian Telecom had acquired an 8% stake in the e-commerce company. Following this initial investment, rumors intensified when Bloomberg reported that Axian was considering a full acquisition of Jumia. By then, Axian’s stake had grown to 9.18%, with a valuation of around $52.5 million. Demonstrating its commitment to this ambition, Axian secured $600 million in bond funding. This strategic positioning suggests Axian is preparing for a significant role in Jumia’s future. The e-commerce company has faced challenges since its initial public offering, with its stock value declining considerably. This has led to some investors, including early supporter Baillie Gifford, reducing their holdings.
The appointment of Hiridjee, given Axian’s increasing stake and reported acquisition ambitions, underscores a potential shift in Jumia’s strategic direction. The focus is now on whether Axian will further its influence within the company.
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Related Keywords: Axian Telecom, Jumia, Supervisory Board, CEO Appointment, Acquisition Rumors, African Ecommerce, Telecom Industry, Board Member, Company Leadership, Jumia Acquisition
