SCHEDULE: Axian Telecom's Hiridjee Joins Jumia Supervisory Board

Axian Telecom's Hassanein Hiridjee has been appointed to Jumia Technologies AG's Supervisory Board, signaling increased stakeholder engagement.

Summary

• Axian Telecom, Axian Telecom Holding and Management PLC, and Hassanein Hiridjee collectively beneficially own 24,427,676 Ordinary Shares of Jumia Technologies AG.
• This represents 9.97% of Jumia's outstanding Ordinary Shares, calculated based on 244,925,650 shares as of December 31, 2024, as reported in Jumia's Form 20-F filed on March 7, 2025.
• Hassanein Hiridjee was appointed to Jumia's Supervisory Board by the Local Court of Charlottenburg, Berlin, Germany, effective September 1, 2025.
• His term on the board will last until the end of Jumia's next annual general meeting.
• The reporting persons currently have no other specific plans or proposals but may evaluate investment alternatives and engage with management or the board in the future.

Sentiment

Score: 6

Explanation: The appointment of a significant shareholder's representative to the board is generally viewed as a positive for corporate governance and strategic alignment, though the filing itself is purely factual and doesn't contain performance metrics.

Positives

• The appointment of a significant shareholder's representative (Hassanein Hiridjee) to the Supervisory Board could lead to more aligned strategic direction and oversight.
• Increased engagement from a major investor (Axian Telecom) may bring valuable industry expertise and resources to Jumia.

Risks

• The reporting persons may formulate future plans or proposals regarding Jumia's business, operations, or corporate structure, which could introduce uncertainty.

Future Outlook

The reporting persons may consider various matters related to their investment and investment alternatives, potentially formulating plans or proposals regarding Jumia's business, operations, or corporate structure, and may engage in discussions with management, the Board, or other stakeholders.

Industry Context

The appointment of a representative from a major telecom group like Axian to the board of an e-commerce platform like Jumia could signal a strategic convergence or increased interest in digital services and infrastructure in African markets, where both companies operate.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders: Increased representation of a major shareholder on the board could lead to more shareholder-aligned decisions and potentially improved oversight.
• Management: The presence of a significant investor's representative on the board may lead to increased scrutiny or new strategic directions.

Next Steps

• Hassanein Hiridjee will serve on the Supervisory Board until the end of Jumia's next annual general meeting.
• The reporting persons may, from time to time, hold discussions with or make formal proposals to management, the Board, other stockholders, or third parties regarding their investment.

Key Dates

Recommendation

The appointment of a significant shareholder's representative to the Supervisory Board is a notable corporate governance event, indicating increased investor engagement. While this can be a positive for long-term strategic alignment, the filing itself does not contain financial performance data or explicit strategic shifts that would warrant a 'buy' or 'sell' recommendation. It primarily signals a change in board composition and potential future influence, suggesting a 'hold' position to observe the impact of this new board dynamic.

Keywords

Jumia Technologies AG, Axian Telecom, Hassanein Hiridjee, Supervisory Board, Schedule 13D/A, Beneficial Ownership, E-commerce Africa, Corporate Governance, Shareholder Activism