Exhibit 99.1

Exhibit 99.1

LOGO

Underwriters’ Exercise of Option to Purchase Additional Shares Completes Jumia Technologies AG’s Initial Public Offering

Berlin, April 23, 2019 – Jumia Technologies AG (“Jumia”) announces that the underwriters of the recently closed offering of 27,000,000 newly issued ordinary shares, represented by 13,500,000 American depositary shares (“ADSs”), have exercised in full their option to purchase an additional 4,050,000 ordinary shares, represented by 2,025,000 ADSs, on the same terms as the initial shares. The capital increase in connection with the exercise of this option was registered on April 18, 2019.

As a result of the offering (including exercise of the option to purchase additional shares), the concurrent private placement to Mastercard Europe SA and the issuance of anti-dilution shares to certain existing shareholders, Jumia has issued in the aggregate 56,765,518 new ordinary shares and received net proceeds of $280.2 million. Following these transactions, Jumia has a total of 156,816,494 ordinary shares, corresponding to 78,408,247 ADSs, outstanding.

The following table presents an overview of our shareholders following the offering (including exercise of the option to purchase additional shares), the concurrent private placement to Mastercard Europe SA and the issuance of anti-dilution shares to certain existing shareholders:


	ADSs				Ordinary shares
	No.		%		No.		%
Existing shareholders (pre-IPO shareholdings)		50,025,488		63.8		100,050,976		63.8
Existing shareholders (anti-dilution shares)		8,975,771		11.4		17,951,542		11.4
New investors		15,525,000		19.8		31,050,000		19.8
Concurrent private placement investor (Mastercard)		3,881,988		5.0		7,763,976		5.0

Total		78,408,247		100.0		156,816,494		100.0

The ADSs representing Jumia’s ordinary shares are listed on the New York Stock Exchange and trade under the symbol “JMIA.”

Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Berenberg Capital Markets, LLC, RBC Capital Markets, LLC, Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated and William Blair & Company, L.L.C. acted as underwriters for the offering.

The offering was made only by means of a prospectus filed by Jumia. A copy of the prospectus may be obtained from any of the following sources:

•

Morgan Stanley & Co. LLC, Attn.: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or

•

Citigroup Global Markets Inc., Attn.: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146 (toll-free); or