Rocket Internet CEO says feels very confident about Jumia

The chief executive of German tech investor Rocket Internet on Wednesday said he felt very confident about African ecommmerce company Jumia , but he declined to comment directly on reports that questioned its figures.

Jumia, which became the first African tech stock to list on Wall Street on April 12, has seen its shares hit by the publication of reports by Citron Research, run by short-seller Andrew Left. Rocket holds a 17% stake in Jumia.

Rocket Internet CEO Oliver Samwer told journalists that Jumia’s first quarter results showed that the company was making “significant progress” and noted that Jumia had said it stood by its initial public offering prospectus.