Business
Citron Report Reveals Why NYSE Listed Jumia Is A Fraud
In 18 years of publishing, Citron has never seen such an obvious fraud as Jumia. As the media in the US is naively anointing Jumia the “Amazon of Africa”, the media in its home country of Nigeria has a plethora of articles discussing the widespread fraud in this Nigerian company. Not even that elusive Nigerian prince can cover this one up.
Jumia is the worst abuse of the IPO system since the Chinese RTO fraud boom almost a decade ago. Worse than being “the most expensive” US listed ecommerce company, Jumia reported financials show us a stagnant business that has burned through $1 billion and has moved the suckers game to the US Markets.
In this report, Citron will expose the SMOKING GUN and show why the equity is WORTHLESS. We believe investors cannot rely on reported numbers and a restatement of financials is on the horizon. The SEC must protect US Investors.
Kenya Insights allows guest blogging, if you want to be published on Kenya’s most authoritative and accurate blog, have an expose, news TIPS, story angles, human interest stories, drop us an email on [email protected] or via Telegram
Why Ruto’s Favourite Candidate Adan Mohammed Could Be Locked Out of the KRA Top Job
DCI Arrests Woman in Sh55.7 Million Gold Fraud Targeting American Citizen in Nairobi
Court Confirms Safaricom Customers Data Was Sold To Betting Companies In Seven-Year Cover-Up
Paybill 585555: How Airtel Kenya’s Interoperability Gateway Became A Criminal Pipeline Draining Millions From Unsuspecting M-Pesa Users
The Man Who Starved Kenya’s Voice
The Rot Inside Absa: How Bank Insiders Are Looting Nairobi’s Customers
The President’s Helicopter: How Ruto’s Aviation Empire Lands a Historic Airbus Milestone While His Government Writes the Tax Code
“TikTok Who? YouTube Sorry. A Kenyan-Built Platform Just Dropped—and 20 African Ministers Showed Up To Launch It.”
Denial Under Duress: The Untold Collapse Threatening David Lagat’s DL Group’s Empire
Stung By West Africa Rejections, France Courts Rest Of Continent at Kenya Summit
How Did a Sh468K KRA Salary Allegedly Turn Into Sh30 Billion? Questions Deepen Over Commissioner George Obel and Ciala Resort Owner’s Wealth
Nairobi Freezes Binance Accounts in Sweeping Anti-Fraud Crackdown as Global Scandal Record Haunts World’s Largest Crypto Exchange
THE UNTOUCHABLE CLERK: How Fatuma Mwalupa Allegedly Turned Kwale Assembly Into a Personal Treasury and Outsmarted Scrutiny
The Man Behind the Badge: How Prof. Erastus Kanga Turned Kenya’s Premier Wildlife Agency into a Theatre of Corruption, Fear and Impunity
THE BRAZEN RETURN: Triton Thief Yagnesh Devani, Who Pillaged Kenya of Sh7.6 Billion and Fled, Now Asks the Same Courts He Escaped to Restore His Stolen Wealth
Green Gold, Rotten Roots: How Kenya’s Biggest Avocado Firms Hijacked a Sh5.8 Billion Harvest Ban
Why the April 21 Flopped Protests Expose Kenya’s Rudderless Opposition
KETRACO CEO Advert Marred By Controversies As Fears Grow That Kipkemoi Kibias Is A Predetermined Candidate
THE PHANTOM COVER: Unlicensed Broker Vanishes With Sh42M, Hussein Mohammed Fingered In The Alleged CHAN 2024 Insurance Scandal
64-Year-Old KIM Faces Shutdown As Regulator Declares Its Certificates Worthless, Orders Employers To Shun Graduates
-
Business1 week agoSafaricom’s Sh1.4 Billion Reckoning: How Kenya’s Most Profitable Company Stole a Man’s Idea and Got Caught
-
Africa2 weeks agoThe $24 Million Heist at the End of the World
-
Business1 week agoTHE INSURER THAT TOOK YOUR PREMIUM AND FORGOT YOUR NAME: How ICEA Lion Left a Client Begging for Sh7.8 Million Across Four Months
-
Investigations1 week agoDenial Under Duress: The Untold Collapse Threatening David Lagat’s DL Group’s Empire
-
Business4 days agoThe Rot Inside Absa: How Bank Insiders Are Looting Nairobi’s Customers
-
Business1 week agoBush Air Safaris Founder John Ndiritu Risks Losing Property Over Disputed Loan Claim
-
Arts & Culture2 weeks agoKDC Accelerates the Creative Economy, Innovation and Youth-Led Enterprise Growth at Africa Forward Summit
-
Africa1 week agoStung By West Africa Rejections, France Courts Rest Of Continent at Kenya Summit