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 in Q3, aiming for a 57% to 61% ye

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 o

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 oper

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 in Q2) and a substantial dec

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, respectively. Those nu

Jumia reaches lowest losses in four years under new management

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 significan

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

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 acr

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 fil

Quantifying the global e-commerce slowdown

What do recent e-commerce earnings results tell us about the post-pandemic e-commerce reality?

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 tenur

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. The

Jumia, Zipline launch drone package delivery in Ghana

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 future.

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%

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
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