The joint-CEOs of Rocket Internet's Nigerian start-up business Jumia have resigned following lengthy speculation that they would do so.
Raphael Afaedor and Tunde Kehinde have been replaced by Nicholas Martins from McKinsey, who began working at the Jumia warehouse last year, and 30 year-old Jeremy Doutte, a Harvard Business School graduate who was parachuted in from Jumia Egypt.
The reasons behind the joint departures are not yet clear although it is understood Afaedor and Kehinde are planning to embark on new start-up schemes.
Jumia was launched in 2012 and has attracted $50 million of investment from venture capital funds. It has recently become embroiled in a legal battle with its main rival Konga.
In a statement released to news outlets including Nigerian Bulletin, Kehinde said: 'As we move on to start our own businesses, we owe a lot to every member of the team, together we made history, together we have built Nigeria’s first and biggest online retailer; a fate we never would have achieved without you. Let us urge you to continue to hold the values of looking after and satisfying every customer, supplier, and the people around you.'
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