deposit 5000
slot deposit 5000
slot gacor situs toto
togel online
toto 4d
situs slot toto 4ddemo slot gacorslot 88
slot gacor slot gacor
slot gacor
brenjitu
slot gacor
situs toto
situs toto
SITUS TOTO
situs toto
TOTO 4D
SITUS TOTO 4D
SLOT GACOR
https://booking.embuni.ac.ke/live-draw-sydney-hongkong
TOTO 4D
toto togel
slot online
slot gacor
slot gacor
slot pulsa
hongkong lotto
slot gacor
brenjitu
slot pragmatic
situs bola
situs gacor
situs toto
situs slot gacor
slot 4d

Jumia records $20m operating loss in 2024 Q3

Onwubuke Melvin
Onwubuke Melvin

Jumia Technologies, Africa’s leading e-commerce platform, reported a challenging third quarter for the period ending September 30, 2024, with an operating loss of $20.1 million.

The company, which has been operating for 12 years, disclosed the results in its financial report released on Thursday.

The e-commerce giant attributed the loss to persistent macroeconomic pressures, which have continued to dampen consumer demand and increase operating costs across its markets.

Jumia also noted that the current quarter’s performance marked a slight decline compared to the $18.3 million operating loss recorded in the same period last year (Q3 2023).

Despite the tough market conditions, Jumia remains focused on its long-term strategy for growth and sustainability in the region.

Despite a 13% year-over-year decline in revenue to $36.4 million, Jumia demonstrated resilience in constant currency, achieving a 9% increase in revenue and a 29% growth in gross merchandise volume compared to last year.

The company reported an adjusted EBITDA loss of $17 million, marking a 15% increase from the $14.8 million loss recorded in the same quarter in 2023.

To strengthen its financial position, Jumia continued to implement strategic measures, including raising an additional $71.8 million through an at-the-market offering in August.

This boost brought Jumia’s liquidity to $164.6m, underscoring its focus on navigating economic headwinds while stabilizing its finances.

Speaking, the Chief Executive Officer, Francis Dufay, stated, “In the third quarter, we continued to strengthen the underlying fundamentals of the business.

“We saw growth in both quarterly active customers, up 1 per cent year-over-year, and orders, up 4 per cent over the prior year, as we continue to focus on diversifying our supply and strengthening the Jumia value proposition.

“We are encouraged to see continued resilience in our usage and business fundamentals despite the significant first quarter currency depreciation headwinds in Nigeria and Egypt that continue to impact reported GMV and topline revenue.”

The CEO noted the company took several major operational steps in the quarter, including improvements to our logistics network and the consolidation of our warehouse footprint to enable greater efficiencies and increase supply capacity.

While these changes negatively impacted operations and expenses in the third quarter, he stated that the company believes that these efforts position us well to scale and drive profitable growth as we expand our footprint beyond the major cities (“upcountry”).

“We also recently decided to cease operations in South Africa and Tunisia in order to better allocate our resources to markets with stronger growth potential.

“While these updates will have a near-term impact on our operations and financial performance, we believe that our efforts position the business well to scale on our path to profitability.”


TAGGED:
Share this Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

situs totoslot thailand situs totoslot gacor situs toto slot online situs toto demo slot gacor situs slot gacorsitus 4d situs totoslot gacorslot gacorslot gacorslot gacorslot gacor
slot gacor
slot gacor situs toto
togel online
toto 4d
situs slot slot demo pgslot 88
slot gacor slot gacor
slot gacor
brenjitu
situs toto
situs toto
SITUS TOTO
toto macau 4d
TOTO 4D
SITUS TOTO 4D
SLOT GACOR
https://booking.embuni.ac.ke/live-draw-sydney-hongkong
TOTO 4D
toto togel
slot online
slot gacor
slot pulsa
hongkong lotto
slot gacor
slot gacor
slot pragmatic
situs bola
situs gacor
situs toto
situs slot gacor
situs totoslot gacordemo slot situs slot gacor
slot66
slot gacor
situs slot gacor
slot gacor
scatter hitam
scatter hitam
slot gacor scatter hitam
scatter hitam
situs slot gacor pulsa
situs baru slot gacor
error code: 521 error code: 521 ?> error code: 521 error code: 521
Hacklinkbetsat
betsat
betsat
holiganbet
holiganbet
holiganbet
Jojobet giriş
Jojobet giriş
Jojobet giriş
casibom giriş
casibom giriş
casibom giriş
xbet
xbet
xbet
grandpashabet
grandpashabet
grandpashabet
tuzla evden eve nakliyat
İzmir psikoloji
creative news
Digital marketing
radio kalasin
radinongkhai
gebze escort
grandpashabet
grandpashabet
jojobet
jojobet güncel giriş
casibom güncel giriş
jojobet
sultanbeyli çekici
beylikdüzü escort
setrabet
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler
deneme bonusu veren siteler 2024
instagram followers buy
casinolevant
betnano giriş
onwin güncel giriş
casibom
casibom
Meritking
meritking
deneme bonusu veren siteler 2024
ultrabet