Benchmark starts ‘leading African e-commerce platform’ Jumia with a Buy

As previously reported, Benchmark analyst Fawne Jiang initiated coverage of Jumia Technologies with a Buy rating and $14 price target based on a belief that the company is poised to benefit from a demographic transformation set to catalyze multi-year and potentially multi-decade e-commerce growth as a “leading” African e-commerce platform. Jumia’s tailor-made services to enable affordability are a primary driver for sustainable growth in “these vast underserved markets,” the analyst tells investors.