Axian Group Reports 9.97% of Jumia; Hassanein Hiridjie Appointed to Board

Rhea-AI Filing Summary

Axian Telecom, Axian Telecom Holding and Management PLC and individual Hassanein Hiridjee report beneficial ownership of 24,427,676 Ordinary Shares of Jumia Technologies AG, equal to 9.97% of the outstanding ordinary shares (based on 244,925,650 shares outstanding as of 12/31/2024). On September 1, 2025 a Berlin court appointed Hassanein Hiridjee to Jumia's Supervisory Board; he will serve until the end of the issuer's next annual general meeting. The reporting persons state they currently have no specific plans listed in Item 4 beyond the board appointment but may continue evaluating their investment and alternatives and could consider future proposals or discussions subject to applicable law.

Positive

• Significant ownership position: Reporting persons beneficially own 24,427,676 Ordinary Shares (9.97% of the class).
• Board representation: Hassanein Hiridjee was appointed to Jumia's Supervisory Board by a court order, providing direct governance access.

Negative

• Below 10% threshold: Ownership is 9.97%, just under common regulatory/market notice levels associated with 10%+ stakes.
• No specific proposals disclosed: Filing states there are currently no plans or proposals under Item 4(a)-(j), leaving uncertainty about future strategic actions.

Insights

Corporate Governance Expert

TL;DR Court appointment of a significant holder to the Supervisory Board creates direct governance influence without immediate takeover intent.

The appointment of Hassanein Hiridjee to the Supervisory Board gives the reporting group formal access to board-level information and oversight, which can materially influence governance and strategic discussions. Holding 9.97% places the group just under a 10% ownership mark often associated with additional regulatory thresholds or market attention; the filing explicitly notes no current plans for the actions listed in Item 4 beyond ongoing evaluation. From a governance perspective, the combination of near-10% ownership and a board seat increases the group's ability to shape oversight, but the filing shows restraint—no disclosed proposals or transactions at this time.

Financial Analyst

TL;DR Near-10% stake plus board appointment is a meaningful ownership and oversight signal but no immediate transactional implications disclosed.

The statement quantifies beneficial ownership at 24,427,676 Ordinary Shares representing 9.97% of the class (ADS ratio: 2 Ordinary Shares per ADS). The filing amends Item 4 to disclose the Supervisory Board appointment dated September 1, 2025, and otherwise confirms the reporters currently have no specific plans that would trigger the Item 4(a)-(j) list. For investors, this is material information: it documents an increase in governance involvement without accompanying operational or financial proposals. Any financial impact will depend on future actions which the filers reserve the right to consider.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)

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)

09/01/2025

(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. 3 to the Schedule 13D filed with the Securities and Exchange Commission on September 3, 2025 amends and supplements Item 4. The Reporting Persons beneficially own 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: On September 1, 2025, the Local Court of Charlottenburg, Berlin, Germany (the "Court") appointed Hassanein Hiridjee, one of the Reporting Persons, to the Supervisory Board of the Issuer (the "Board"). Pursuant to the Court's order, Hassanein Hiridjee will serve as a member of the Board until the end of the Issuer's next annual general meeting. 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.

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:	09/03/2025

Axian Telecom Holding and Management PLC

Signature:	/s/ Hassanein Hiridjee
Name/Title:	Hassanein Hiridjee
Date:	09/03/2025

Hassanein Hiridjee

Signature:	/s/ Hassanein Hiridjee
Name/Title:	Hassanein Hiridjee
Date:	09/03/2025

FAQ

What stake in Jumia (JMIA) do the reporting persons report?

They report beneficial ownership of 24,427,676 Ordinary Shares, equal to 9.97% of the outstanding ordinary shares (based on 244,925,650 shares as of 12/31/2024).

Who was appointed to Jumia's Supervisory Board?

Hassanein Hiridjee was appointed by the Local Court of Charlottenburg, Berlin, to serve on the Supervisory Board until the issuer's next annual general meeting.

Does the filing state the reporting persons intend to seek control or propose transactions?

The filing states the reporting persons do not currently have any plans or proposals

Do the reporting persons hold Ordinary Shares or ADSs?

The filing notes the reporting persons beneficially own ADSs

What jurisdiction are the reporting entities organized in?

Axian Telecom is organized in Mauritius; Axian Telecom Holding and Management PLC is organized in the United Arab Emirates; Hassanein Hiridjee is a citizen of France.