Axian Discloses 12.2M ADSs (9.97%) in JMIA and Seeks Board Seat

Rhea-AI Filing Summary

Axian-affiliated parties disclosed a 9.97% economic interest in Jumia Technologies AG via 12,213,838 ADSs (equivalent to 24,427,676 Ordinary Shares). The filing shows Axian Telecom, Axian Telecom Holding and Management PLC and Hassanein Hiridjee share voting and dispositive power over those shares; none claim sole voting or dispositive power. The reporting persons amended Item 4 to state the Issuer's Supervisory Board recommended and the Management Board filed a petition with the Local Court of Charlottenburg to appoint Hassanein Hiridjee to the Supervisory Board, and Mr. Hiridjee has expressed willingness to accept the appointment. The filing attaches a 60-day trading history and the petition as exhibits and reflects ownership based on 244,925,650 Ordinary Shares outstanding.

Positive

• Clear disclosure of 12,213,838 ADSs (24,427,676 Ordinary Shares) representing 9.97% of outstanding Ordinary Shares
• Formal petition filed and attached seeking appointment of Hassanein Hiridjee to the Supervisory Board
• Exhibits included (60-day trading history and the petition) enhancing transparency

Negative

• No sole voting or dispositive power disclosed by the reporting persons (all power reported as shared)
• Potential governance contest implied by court petition to appoint board member (documented action rather than cooperative appointment)

Insights

Financial Analyst

TL;DR: A near-10% stake and an active push for board representation are material to shareholder voting dynamics.

The reporting group holds 12,213,838 ADSs equal to 24,427,676 Ordinary Shares or 9.97% of outstanding shares, a size that can influence corporate governance votes and strategic discussions. The petition to appoint Hassanein Hiridjee to the Supervisory Board formalizes an attempt to gain direct oversight. The disclosure clarifies shared—not sole—voting and dispositive power, and the filing includes trading history and the petition as exhibits, improving transparency for investors assessing control and governance implications.

Corporate Governance Expert

TL;DR: Seeking a board seat while holding ~10% is a common, material engagement strategy with governance implications.

The amendment documents active engagement with the Issuer’s Board and Management by filing a court petition to appoint a named representative, Hassanein Hiridjee, to the Supervisory Board. This is a formal governance action that converts passive ownership into an attempt at representation. The filing shows shared control across related entities and cites exhibits (petition and 60-day trading history), which are relevant for evaluating the procedural and regulatory steps taken to secure board participation.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 2)

Jumia Technologies AG

(Name of Issuer)

Ordinary Shares, no par value, American Depositary Shares, each representing two Ordinary Shares

(Title of Class of Securities)

48138M105

(CUSIP Number)

Axian Telecom
Standard Chartered Tower, 19 Cybercity, c/o DTOS Ltd., 10th Floor
Ebene, O4, 72201
971559272635

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

08/25/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 48138M105

1

Name of reporting person

Axian Telecom

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

BK, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

MAURITIUS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,427,676.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,427,676.00

11

Aggregate amount beneficially owned by each reporting person

24,427,676.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.97 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

(1) Axian Telecom Holding and Management PLC ("ATHMP"), as the sole shareholder of Axian Telecom ("Axian"), may be deemed to have shared beneficial ownership over the Ordinary Shares, no par value per share (the "Ordinary Shares"), of Jumia Technologies AG (the "Issuer"), a company incorporated under the laws of the Federal Republic of Germany, beneficially owned by Axian. Hassanein Hiridjee, as the sole shareholder of ATHMP, may be deemed to have shared beneficial ownership over the Ordinary Shares beneficially owned by ATHMP and Axian. (2) Reflects 24,427,676 Ordinary Shares; each of the Issuer's American Depositary Shares ("ADSs") represent two Ordinary Shares. The percentage reflected in row 13 in the table above is calculated on the basis of 244,925,650 Ordinary Shares outstanding as of December 31, 2024, as reflected in the Issuer's Form 20-F filed with the Securities and Exchange Commission on March 7, 2025.

SCHEDULE 13D

CUSIP No. 48138M105

1

Name of reporting person

Axian Telecom Holding and Management PLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED ARAB EMIRATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,427,676.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,427,676.00

11

Aggregate amount beneficially owned by each reporting person

24,427,676.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.97 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

(1) ATHMP as the sole shareholder of Axian, may be deemed to have shared beneficial ownership over the Ordinary Shares beneficially owned by Axian. Hassanein Hiridjee, as the sole shareholder of ATHMP, may be deemed to have shared beneficial ownership over the Ordinary Shares beneficially owned by ATHMP and Axian. (2) Reflects 24,427,676 Ordinary Shares; each of the Issuer's ADSs represent two Ordinary Shares. The percentage reflected in row 13 in the table above is calculated on the basis of 244,925,650 Ordinary Shares outstanding as of December 31, 2024, as reflected in the Issuer's Form 20-F filed with the Securities and Exchange Commission on March 7, 2025.

SCHEDULE 13D

CUSIP No. 48138M105

1

Name of reporting person

Hassanein Hiridjee

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

FRANCE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 24,427,676.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 24,427,676.00

11

Aggregate amount beneficially owned by each reporting person

24,427,676.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

9.97 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

(1) ATHMP as the sole shareholder of Axian, may be deemed to have shared beneficial ownership over the Ordinary Shares beneficially owned by Axian. Hassanein Hiridjee, as the sole shareholder of ATHMP, may be deemed to have shared beneficial ownership over the Ordinary Shares beneficially owned by ATHMP and Axian. (2) Reflects 24,427,676 Ordinary Shares; each of the Issuer's ADSs represent two Ordinary Shares. The percentage reflected in row 13 in the table above is calculated on the basis of 244,925,650 Ordinary Shares outstanding as of December 31, 2024, as reflected in the Issuer's Form 20-F filed with the Securities and Exchange Commission on March 7, 2025.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Ordinary Shares, no par value, American Depositary Shares, each representing two Ordinary Shares
(b)	Name of Issuer: Jumia Technologies AG
(c)	Address of Issuer's Principal Executive Offices: Skalitzer Strasse 104, Berlin, GERMANY , 10997.
Item 1 Comment: This Amendment No. 2 to the Schedule 13D filed with the Securities and Exchange Commission on August 26, 2025 amends and supplements Item 4, Item 5 and Item 7. The Reporting Persons beneficially own 12,213,838 ADSs and do not own any Ordinary Shares. For the purposes of this Schedule 13D, the Reporting Persons have illustrated their ownership and trading history in Ordinary Shares.
Item 4.	Purpose of Transaction
	Item 4 of this Schedule 13D is hereby amended and supplemented by the following: The Issuer's Supervisory Board (the "Board") has recommended and approved the filing of, and the Issuer's Management Board (the "Management Board") has filed, a petition with the Local Court of Charlottenburg, Berlin, Germany (the "Court") to appoint Hassanein Hiridjee, one of the Reporting Persons, to the Board (the "Petition"). Hassanein Hiridjee has expressed his support for the Petition and willingness to accept the appointment as a member of the Board. A copy of the Petition is attached hereto as Exhibit 3. The Reporting Persons are engaging, and may continue to engage, in discussions with the Board and the Management Board concerning the foregoing. Other than as described above, the Reporting Persons do not currently have any plans or proposals that relate to, or may result in, any of the matters listed in subparagraphs (a) through (j) of Item 4 of Schedule 13D. However, as part of their ongoing evaluation of this investment and investment alternatives, the Reporting Persons may consider such matters and, subject to applicable law, may formulate a plan or proposal with respect to such matters, and, from time to time, may hold discussions with or make formal proposals to management or the Board, other stockholders or the Issuer or other third parties regarding such matters.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) of this Schedule 13D is hereby amended and supplemented by the following: As of the date hereof, Axian owns 12,213,838 ADSs, which may be exchanged for Ordinary Shares on a two-for-one basis representing approximately 9.97% of the Ordinary Shares outstanding.
Item 7.	Material to be Filed as Exhibits.
	Item 7 of this Schedule 13D is hereby amended and supplemented by the following: 1. Annex B - 60-Day Trading History 3. The Petition to the Court Concerning the Appointment of Hassanein Hiridjee to the Board

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Axian Telecom

Signature:	/s/ Hassanein Hiridjee
Name/Title:	Hassanein Hiridjee/Director
Date:	08/26/2025

Axian Telecom Holding and Management PLC

Signature:	/s/ Hassanein Hiridjee
Name/Title:	Hassanein Hiridjee
Date:	08/26/2025

Hassanein Hiridjee

Signature:	/s/ Hassanein Hiridjee
Name/Title:	Hassanein Hiridjee
Date:	08/26/2025

FAQ

How many Jumia (JMIA) shares do the reporting persons claim to beneficially own?

The reporting persons beneficially own 12,213,838 ADSs, which equal 24,427,676 Ordinary Shares (ADSs convert two-for-one).

What percentage of JMIA does the reported holding represent?

The filing states the holding represents approximately 9.97% of JMIA’s Ordinary Shares based on 244,925,650 shares outstanding.

What governance action did the reporting persons take in this amendment?

The Issuer’s Supervisory Board recommended and the Management Board filed a petition with the Local Court of Charlottenburg to appoint Hassanein Hiridjee to the Supervisory Board.

Do the reporting persons claim sole voting or dispositive power over the shares?

No. The filing reports 0 sole voting power and 0 sole dispositive power; all reported power is shared.

What exhibits were added to this Schedule 13D/A?

The amendment lists an Annex B 60-day trading history and The Petition to the court concerning the appointment as exhibits.