jumia
Jumia’s revenue and gross merchandise volume showed growth despite a decrease in quarterly active customers, according to its Q1 2024 report. Revenue increased by 19% year-over-year (57% in constant currency)…
Jumia reduces losses by over 90% in Q4 amid focus on restoring order and GMV growth
In 2023, Jumia revised its adjusted EBITDA loss guidance thrice: $100 million to $120 million in Q1; $90 million to $100 million in Q2; and $80 million to $90 million…
Jumia quit food delivery because of deep-pocketed ‘aggressive’ rivals, CEO says
Last week, pan-African e-commerce platform Jumia said it was discontinuing its food delivery service, Jumia Food. According to the company, its food delivery business didn’t align with the current operational…
Jumia discontinues food delivery across seven markets, shifts focus to expanding physical goods business
Pan-African e-commerce platform Jumia has disclosed its intention to discontinue its food delivery service, Jumia Food. The company said its food delivery business is not aligned with the current operational…
Jumia reports GMV growth in physical goods across five countries and lowest losses since IPO
In Q3 2023, Jumia reported an adjusted EBITDA loss of $15 million, marking the lowest since its IPO in 2019 (outperforming the $27 million recorded in Q1 and $19.3 million…
Jumia expects losses not to exceed $100M this year, per Q3 financials
In the first quarter of 2023, we reported that Jumia recorded its lowest losses in four years. Its adjusted EBITDA and operating losses dropped to $27 million and $30.9 million,…
Q1 2023 marks the first quarter Jumia’s new management implemented its strategy after riding out the blueprint of previous management in Q4 2022. The result? Jumia saw its losses decrease…
African watchdog forces Jumia to review its terms in push to protect consumers
Africa’s largest e-commerce site Jumia has amended its terms and conditions after the regional watchdog, the COMESA (Common Markets for Eastern and Southern Africa) Competition Commission, compelled the marketplace to…
Jumia laid off 20% of staff in Q4 2022 amid work to reduce losses by half this year
Jumia, as part of its streamlining efforts, reduced headcount among managerial roles by 60% in Dubai and undertook overall headcount reductions that resulted in more than 900 position terminations across…
Jumia’s investors rethink their stakes — for better and worse
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…
What do recent e-commerce earnings results tell us about the post-pandemic e-commerce reality?
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Jumia to cut products and overhead as new management chases profits
Last Monday, Jumia co-founders Sacha Poignonnec and Jeremy Hodara resigned from their roles as co-CEOs, just ten days before the company’s third-quarter 2022 financial report. The end of their tenure, therefore, marked the first time a new face — Francis Dufay, the ex-chief at Jumia Ivory Coast and now acting CEO of Jumia — took…
Jeremy Hodara and Sacha Poignonnec step down as Jumia co-CEOs
African e-commerce giant Jumia has made a change in management as co-founders Jeremy Hodara and Sacha Poignonnec step down effective today as co-CEOs, according to a statement seen by TechCrunch.…
Jumia, the pan-African e-commerce company, has partnered with Zipline to launch on-demand drone delivery in Ghana, with plans to expand the service to Nigeria and Côte d’Ivoire in the near…
Jumia shares rise as the company’s e-commerce business revs up in Q2
African e-commerce giant Jumia reported its second-quarter financial performance today. In the wake of its financial reporting this morning, Jumia’s shares climbed sharply, gaining more than 15% in early trading…
African health tech startups in the supply chain segment show rapid growth, spurring a $7M investment initiative
While Africa’s health systems are still reeling from the effects of the COVID pandemic, the adoption of digital health services has been revved up in some countries. Telemedicine, the standout…
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Jumia’s venture into quick commerce could slow its path to profitability
Some investors believe African e-commerce giant Jumia is light-years from achieving profitability, and it’s not difficult to understand their perspective.
The e-commerce boom is still afoot in Africa, Jumia’s earnings indicate
Jumia, the pan-African e-commerce company (and sole tech company based on the continent listed on the NYSE), released its first-quarter financial performance today. The company’s results included consistent growth but…
UPS partners with Jumia to expand delivery network in Africa
Global logistics and package delivery company UPS will leverage Jumia’s network across Africa to grow its reach in the continent, following a new partnership announced today that gives it access…
Jumia reports record orders and revenue but investors remain unconvinced
Share sell-offs continued today in the wake of public companies’ earnings reports, proving especially significant amongst firms that benefited from the pandemic. While new and established public companies in market…
Senegalese logistics and delivery company PAPS raises $4.5M led by 4DX Ventures and Orange
Multinationals like Amazon and Alibaba have leveraged logistics infrastructure such as UPS and FedEx to create large businesses. It’s not the same in Africa, where few third-party infrastructure players exist…
Ivorian e-commerce startup ANKA, formerly Afrikrea, raises $6.2M pre-Series A
A study by McKinsey & Company on general e-commerce activities in Africa says consumer spending will reach over $2 trillion in the next three years. Much of this spending falls…
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African tech took center stage in 2021
Two years ago, the African tech ecosystem saw newfound attention from global players that translated to the continent’s best year of receiving venture capital. From varying sources, it is estimated up to $2 billion went into African tech startups in 2019. With high-profile visits from the most famous Jacks (Ma and Dorsey), a long-awaited first…
Jumia reports 30% growth in value of goods sold on its platform during Black Friday season this year
E-commerce in Africa is growing fast and its potential remains enormous as more people get connected to the internet. Across sub-Saharan Africa 303 million people, about 28% of the population,…
Rensource-spinoff Sabi closes $6M bridge round, expands B2B retail platform outside Nigeria
Nigeria’s informal trade sector, worth over $244 billion, has more than 40 million micro, small and medium businesses. Most of these businesses operated offline until a few years ago when…
Jumia posts revenue and order gains, but compounding losses drag its stock lower
Pan-African e-commerce company Jumia released its third-quarter financial performance today, detailing a mix of expected and surprising results. When TechCrunch discussed the company’s Q2 2020 financials, Jumia had a market…
NYSE-listed e-commerce platform Jumia experienced a shift in shopping habits across its markets in Africa last year, as more shoppers bought everyday products as opposed to electronics. Shopping for essentials…
Vendease gets $3.2M to help hotels and restaurants buy food supplies in Africa
Vendease, an online marketplace that allows restaurants and other food businesses to buy supplies straight from manufacturers and farms, has raised a seed round of $3.2 million, the company confirmed…
Glovo to double down African investment in the next 12 months — but will it stay put?
Spanish on-demand delivery platform Glovo today announced plans to double its investment in Africa and expand its operations on the continent. The Barcelona-based company has invested up to €25 million…
Jumia’s Q2 results show moderate growth, rising spend and continued losses
African e-commerce giant Jumia today reported its second-quarter financial performance. In the wake of its earnings reports, Jumia’s shares climbed 3.38% to $21.99 per share with a market cap of…