Monday, 13 January 2014

Rocket Internet Loses Two Key Executives From African Site Jumia

The founding executives at one of Rocket Internet's main African businesses are on the verge of leaving, according to emerging markets start-up news site VentureBurn.com.

Tunde Kehinde and Raphael Afaedor, co-founders at Nigeria's Jumia, are expected to leave this month.

VantureBurn.com said the circumstances around their departure were not yet clear how critical the pair were or how firmly they were tied into the Rocket-led venture.

One source told the site Kehinde and Afaedor were 'moving on to start new ventures'.

The departures come as competition with the Nigerian, widely seen to be a key African gateway market after South Africa, heats up. 

Konga last month raised $25 million just days before the end of last year and Shoppi.ng acquired Buynownow.com and 1500Naira.com in cash and stocks deal, according to TechCabal.com.

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