Jumia’s investors rethink their stakes

Baillie Gifford, the Edinburgh-based asset management firm long known to have a penchant for pre-IPO tech companies, has reduced its shares in African e-commerce giant Jumia, per the latest 13G/A filing released by the asset manager. According to the filing, Baillie Gifford disclosed ownership of 18.75 million shares in Jumia, representing 13.69% of the company. In Jumia's previous filing from a year ago, the asset management firm had 19.85 million shares, owning 10.06% of the company at the time. That's a 5.50% decrease in shares and a 0.67% drop in ownership. The Scotland asset management firm, well into its centenarian…