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ABUJA- Jumia, the African e-commerce company of German start-up investor Rocket Internet, has filed for a New York initial public offering, which could value the firm at $1.6 billion or more.
Jumia, founded in 2012 offers online shopping, logistics and payment services, but is losing money. The company says its business is expanding, and the continent’s development will make it a better market, with a growing young population, more infrastructure investments, urbanisation and rapid economic growth.
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