Jumia yet to turn to profitability, reports 6.4% decline in Q1 revenue

AFRICA – The New York Stock Exchange listed Africa-focused eCommerce company, Jumia has posted first-quarter revenues of €27.4 million (US$33m), a 6.4% drop from the €29.3 million (US$35.3m) that it reported in Q1 2020. Interestingly, Jumia seems to have generated more revenue during the period under review from third party sales at US$24m compared to US$23m in Q1 2020. But the gains were wiped out by first-party revenue declining by 35% from US$12m in Q1 2020 to US$8m in Q1 2021. According to reports by Tech Cruch, the eCommerce giant…

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Jumia Ghana names Tolulope George -Yanwah as new CEO

GHANA – Africa’s Leading e-commerce platform, Jumia has announced the appointment of Tolulope George-Yanwah as the new Chief Executive Officer of its Ghana operations. She takes over the leadership from Diana Owusu-Kyereko who was at the helm of the company since January 2020. Tolulope brings a pool of experience; having held other management roles in Jumia such as Country Manager and VP of Jumia Logistics, Last Mile Expansion Manager, and Regional Dispatch Operations Manager. Prior to her appointment, she was the Country Manager for Jumia Logistics in Nigeria from February…

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Jumia cashes in on bullish stock trading aims to raise US$400m to finance expansion drive

AFRICA – The New York Stock Exchange listed Africa-focused eCommerce company, Jumia is seeking to raise US$400 million by floating 9 million American depositary shares (ADS). ADS are stocks offered by non-US companies, available to be purchased by US investors. Secondary sales like this are usually done by public companies to finance debt or facilitate growth. The Ecommerce giant with stock trading at US$42.14 on Monday, aims to raise more cash to fund its expansion drive. Jumia listed the ADSs at US$50 per share, but investors could buy these shares…

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Jumia Kenya launches Food Festival campaign to support local restaurants

KENYA – E-commerce platform Jumia has launched a Food Festival Campaign in Kenya to support local restaurants navigate the challenging operating environment brought by the COVID-19 pandemic. During the campaign, consumers will get free and fast delivery from hundreds of restaurants, supermarkets and shops via Jumia Prime, its loyalty program. The food festival campaign, according to Jumia follows the president’s directive to extend the curfew for additional 60-days following the increased rate of 3rd wave of covid-19 in Kenya. “We hope that this campaign will surprise and delight our customers.…

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Jumia to expand food delivery services, plans to venture into Egyptian market

EGYPT – Jumia, Africa focused ecommerce company is planning to introduce its food delivery service in Egypt during the first quarter. The move will make Egypt the tenth market where the ecommerce giant will be offering its restaurant delivery services, joining Nigeria, Côte d’Ivoire, Kenya, Morocco, Tunisia, Ghana, Uganda, Algeria and Senegal with exemption of South Africa. It’s a strategic time for Jumia Food’s to set base in Egypt following the cessation of Uber Eats services in the North African country in May last year. However, it will face competition…

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Airline caterer NAS Servair partners with Jumia to offer food delivery services

KENYA – Leading e-commerce platform in Africa, Jumia has partnered with airline in-flight caterers, NAS Servair, to provide affordable meals to consumers in Nairobi and delivered to them at their preferred location. NAS is an on-site airport catering business supplying over 30 International airlines that fly into and out of Jomo Kenyatta International Airport (JKIA) in Nairobi and Moi International Airport (MIA) in Mombasa. Under the new business line dubbed Bei Poa Kitchen, consumers will pre-order meals on the Jumia Food platform before 6 PM and get it delivered the…

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Jumia to establish new technology center in Egypt to provide unprecedented services in the market

EGYPT – Jumia, an e-commerce platform has announced that it is embarking on a new technology center in Egypt that is inspired by the country’s leadership in the field of information and communications technology as a result of its well-trained cadres. According to Jumia, the new technology center will provide its services to the Egyptian market as well as Africa at large. The center was pre-launched last year for a test and postponed due to the COVID pandemic. “Egyptian efforts are the main reason for this announcement. From the first…

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Jumia extends food delivery service to five more states in Nigeria

NIGERIA – Leading e-commerce platform in Africa, Jumia has launched its food delivery service Jumia Food to five additional states in Nigeria as part of its resolve to expand the growing popularity and thrilling experience of online fast-food services to customers in all Nigerian states. The new route on Jumia Food map are Minna, Benin City, Kaduna, Abeokuta, Kano, and Ilorin. The expansion into the new markets is in response to the organization’s findings which were published in its 2020 Nigeria Food Index report, which indicated that the country’s food…

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Jumia’s Q3 report indicates its significant progress towards profitability

NIGERIA – Jumia, leading e-commerce platform has reported a year-over-year rise in gross profit in the third quarter ended September by 22% reaching €23.2 million (US$27.45m). The report showed an improvement in the operating loss which decreased by 49% compared to the previous year, reaching a three-year low of €28.0 million (US$33.1m). However, its Gross Merchandise Value (GMV) was €187.3 million (US$221.6m), down 28% year-over-year, as the effects of the business mix re-balancing initiated late last year continued playing out during the third quarter of 2020. The company further revealed…

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Jumia expands scope with launch of third-party delivery services

AFRICA – Leading e-commerce platform in Africa, Jumia has opened its logistic arm to third party businesses who wish to leverage its network, technology and expertise for last mile deliveries across 11 countries in the region. The ecommerce company has indicated that the new offering is aimed to enable the third parties to efficiently undertake their logistics operations which is a major cost driver. “Businesses across the countries are re-examining their costs, especially during COVID-19. For many, logistics is a major cost driver and headache to manage. “We have the…

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