• Jumia, an African e-commerce giant, has announced the closing of a secondary share sale worth $99.6 million. This sale involved existing shareholders, including Mastercard and Pernod Ricard, selling a portion of their shares in the company. The proceeds from this sale will not go directly to Jumia, but rather to the selling shareholders.

• The secondary share sale was conducted through an accelerated bookbuild process, which is a method of selling shares quickly to institutional investors. This process allows existing shareholders to monetize a portion of their holdings while providing additional liquidity to the company's stock.

• Jumia, which operates in several African countries, has faced challenges in recent years, including the impact of the COVID-19 pandemic on its business. However, the company remains focused on expanding its e-commerce platform and services across the continent, and this secondary share sale is seen as a way to provide additional funding and support for its ongoing operations and growth initiatives.