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Jumia’s investors rethink their stakes — for better and worse



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Baillie Gifford, the Edinburgh-based asset management firm long known to have a penchant for pre-IPO tech companies, has reduced its shares in African e-commerce giant Jumia, per the latest 13G/A filing released by the asset manager.
According to the filing, Baillie Gifford disclosed ownership of 18.75 million shares in Jumia, representing 13.69% of the company. In Jumia’s previous filing from a year ago, the asset management firm had 19.85 million shares, owning 10.06% of the company at the time. That’s a 5.50% decrease in shares and a 0.67% drop in ownership.
The Scotland asset management firm, well into its centenarian years, has been an early backer of reputable private and public tech companies such as Amazon, Google, Salesforce, Tesla, Airbnb, Spotify, Lyft, Palantir and SpaceX. It has also invested in deals across other geographies, includin …

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