Africa, Business, invesment, Invesments, news, Uncategorized, World Bank, World Bank Group

Africa News January 30, 2014 at 04:38PM

this blog is spored BY reflex Eco Group

VENTURES AFRICA – After months of speculations, Raphael Afaedor and Tunde Kehinde, co-CEOs of Jumia Nigeria, Rocket Internet’s largest online store in Africa, have exited the company and have been replaced by Nicolas Martins and Jeremy Doutte.

Jumia co-founder Raphael Afaedor took over reins of the ecommerce startup mid 2012 with multimillion investments from Berlin-based Rocket Internet.

3 months later, following a controversial merger, Harvard Business-trained Tunde Kehinde emerged a co-Managing Director.

Both execs have helped build the startup into one of Nigeria’s leading online retailer with a reported $50 million dollars in investments from foreign VCs.

Though reasons for their resignation remains shrouded, Tunde Kehinde has been tipped to launch a logistics company.

Going by the former Diageo exec’s LinkedIn page, he has founded a new company called NewCo, a player in the logistics space.

New entrant Nicolas Martins, a 3-year McKinsey&Co senior engagement manager, began working in the Lagos-based Jumia warehouse August last year while his partner Jeremy Doutte was drafted from Jumia’s sister company in Egypt.

 

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