Landing with a bump? Germany’s Rocket falls back to earth

By Emma Thomasson and Chijioke Ohuocha BERLIN/LAGOS (Reuters) – When German e-commerce investor Rocket Internet launched Jumia in 2012 as a would-be African Amazon, it was optimistic that a rapidly expanding middle class would quickly shift from street markets to shopping online. Four years on, falling sales for sites like Jumia and slower growth from Nigeria to Russia and Brazil is casting doubt on Rocket Internet's ambition to become the world's biggest Internet company outside the United States and China. The devaluation of Nigeria's naira last week is a new blow for Jumia, which now operates in more than 20 countries in Africa.

Original story here.

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