Here's Why Jumia Technologies Shares Are Rising

Jumia Technologies AG - ADR JMIA shares are trading higher by 20.34% at $11.42 after the company announced it would make its last mile logistics capabilities available to United Parcel Service, Inc. UPS.

Leveraging the Jumia infrastructure in Africa, Jumia says UPS will offer its customers an extended range of delivery solutions, including door-to-door package delivery and collection, with a variety of payment options.

Jumia says this partnership will also allow UPS to leverage the extensive network of Jumia drop-off and pick-up stations to expand the UPS reach and coverage across more towns and cities in Africa. The collaboration will initially cover Kenya, Morocco, Nigeria, with plans for expansion to Ghana and Ivory Coast, and thereafter to the remaining African countries where Jumia operates.

See Also: Why Twitter Shares Are Soaring Today

Jumia Technologies is a pan-African e-commerce platform. The company's platform consists of a marketplace, which connects sellers with consumers.

Jumia Technologies has a 52-week high of $40.37 and a 52-week low of $6.41.