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Northern governors mourn businessman Alhaji Aminu Dantata

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Tag: Jumia

Jumia launches third-party logistics to boost profitability
News

Jumia launches third-party logistics to boost profitability

In a major strategic shift, African e-commerce giant Jumia has launched Jumia Delivery, a logistics service now available to third-party businesses, including social media-based merchants it once viewed as competition. The move signals a broader effort by the company to cut fulfilment costs, diversify revenue streams, and stay on track to achieve profitability by 2027. […]

Jumia appoints Anthony Mbagwu as JumiaPay MD
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Jumia records $20m operating loss in 2024 Q3

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 […]

Jumia exits South Africa, Tunisia, faces Nigeria, others
News

Jumia exits South Africa, Tunisia, faces Nigeria, others

Africa-focused e-commerce retailer Jumia Technologies will shut down its South African online fashion retailer Zando and its Tunisian operations by the end of the year. CEO Francis Dufay revealed that the move is part of a strategic refocus on more profitable markets such as Nigeria. To achieve profitability, Jumia is implementing aggressive cost-cutting measures, which […]

Jumia appoints Anthony Mbagwu as JumiaPay MD
News

Jumia reports 8% decline in operating loss

E-commerce platform, Jumia Technologies AG, has announced a decline in its operating loss by eight per cent year-over-year to $20.2m despite economic challenges. Jumia in a statement provided an explanation of the effects of the unstable economic environment on its business operations. These effects included a drop in revenue and a marginal drop in gross […]

Jumia appoints Anthony Mbagwu as JumiaPay MD
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Jumia appoints Anthony Mbagwu as JumiaPay MD

E-commerce giant Jumia has announced the appointment of Anthony Mbagwu as the new Managing Director of its Nigerian fintech arm, JumiaPay. Mbagwu, who joins from rival fintech company PalmPay, where he served as Senior Business Development and Partnership Manager, brings over 15 years of experience in the financial services sector to his new role. Before […]

Jumia launches third-party logistics to boost profitability
News

Jumia’s shares rise to 55% as investor confidence grows

The Pan-African e-commerce giant, Jumia, has experienced a remarkable 55% surge in its share price over the past five days, closing trading at $12.08 on Friday compared to $8.46 just a week ago. This surge has lifted Jumia’s market value to $1.32 billion, signaling a resurgence in investor confidence after a turbulent period since its […]

News

Jumia unveils warehouse, logistics facility to boost operations in Nigeria

Jumia Nigeria has introduced a new combined warehouse and logistics network facility to enhance delivery efficiency. This disclosure was made at the launching of the warehouse on Tuesday in Isolo, Lagos, according to The Punch. Jumia said it sees this progress as a significant advancement in Jumia Nigeria’s dedication to improving its logistics capabilities and […]

Jumia fires workers after quitting food delivery
Tech

Jumia fires workers after quitting food delivery

African delivery service, Jumia has terminated the employment of workers in Kenya and other African countries in January 2024, after the closure of Jumia Food, their meal delivery enterprise. It was not known how many employees were impacted by the layoffs. “News about layoffs was shared last week but no communication was made about who […]

Jumia launches third-party logistics to boost profitability
News Tech

Jumia Food to exit Nigeria by end of 2023

Jumia will cease operations for its food delivery service, Jumia Food, in all of its operational countries, which include Nigeria, Kenya, Morocco, Ivory Coast, Tunisia, Uganda, and Algeria by the end of December 2023. The company’s current priorities across its 11 operational nations are the Jumia Pay platform and its core physical goods business. Even […]

Jumia CEO Massimiliano Spalazzi steps down
News Tech

Jumia CEO Massimiliano Spalazzi steps down

Jumia CEO Massimiliano Spalazzi will step down in December 2023, after serving as CEO of an e-commerce company for 11 years. The CEO of Jumia Ghana, Sunil Natraj, who was hired last year, will take over from Spalazzi, one of the company’s original staff members. Jumia Group CEO Francis Dufay made the announcement of Natraj’s […]

Starlink Nigeria slashes hardware costs by 21%
Business

Starlink partners with Jumia to expand satellite broadband access in Africa

Elon Musk’s billionaire satellite business, Starlink, is collaborating with Jumia Technologies AG to improve satellite broadband services throughout Africa. According to The Times, Starlink satellite terminals and kits will be made available on Jumia in a few African nations thanks to investors including Pernod Ricard SA and Goldman Sachs Group Inc. According to Jumia’s Chief […]

Business

Jumia CEOs step down as new management emerge

The co-founders of Jumia, Jeremy Hodara and Sacha Poignonnec, have stepped down as co-CEOs of the African eCommerce giant This is as the company announced several management changes, including the establishment of a new management board, according to TechCabal. While the search for a permanent CEO is ongoing, Francis Dufay has been named by the […]

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