jumia

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 offer

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 include

Equity Monday: Elon’s Twitter stake and the fate of rival social networks

Hello and welcome back to Equity, a podcast about the business of startups, where we unpack the numbers and nuance behind the headlines. Every Monday, Grace and Alex scour the news and record note

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 to

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 com

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 pla

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 under the importati

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

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, are con

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 startups b

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 finan

Consumables dominate Jumia’s sales as buyer habits change

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 e

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 mill

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

Jumia’s Q1 earnings report continues to show falling losses, slow growth

African e-commerce giant Jumia today shared its earnings for the first quarter of 2021 that ended in March. While its customer count grew, a drop in the company’s revenues spoke to the fact that

Ivorian startup Afrikrea partners with DHL and Visa to launch SaaS e-commerce platform ANKA

In 2016, Ivorian e-commerce startup Afrikrea started as a marketplace for African-based and inspired clothing, accessories, arts, and crafts. Over the past five years, Afrikrea has served more than 7,

Jumia co-CEO Jeremy Hodara talks African e-commerce and his company’s path to profitability

This month, African e-commerce giant Jumia released its second full-year financials for Q4 and its fiscal year 2020. The results were mixed — active customers and gross profit increased, while o

Jumia narrows losses, as its payment service grows in financial results

After years of losses, African e-commerce giant Jumia claimed significant progress towards profitability in its Q4 2020. Backing that claim, Jumia reported record gross profit and some improvements to
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