Nigeria

Admiration in China for American democracy

Most people in China would like to see their country's political system become more like America's over the next 2 decades. Japanese and Germans, not so much.

Data: Eurasia Group Foundation; Chart: Harry Stevens/Axios

Africa's first tech unicorn Jumia files for IPO

Co-founder of Jumia, Tunde Kehinde, stands and speaks in front of a wallpaper that displays the Jumia logo.
Co-founder of Jumia, Tunde Kehinde. Photo: Pius Utomi Ekpei/AFP/Getty Images

Jumia, a pan-African e-commerce platform, filed for an IPO that would see it trade on the NYSE (JMIA) with Morgan Stanley as lead underwriter. The filing is for $100 million, but Renaissance Capital estimates that it may seek to raise five times that amount.

Why it matters: Jumia is considered to be Africa's first tech unicorn, even though it was founded by two Frenchmen and is headquartered in Germany. And, like so many U.S. unicorns, it has massive losses without a visible road to profitability.