Jumia Africa is a pan-African e-commerce platform based in Lagos, Nigeria. The company operates a marketplace, a payments arm, a logistics service and a classifieds platform that are all integrated with its mobile apps in eleven African countries.
Founded in 2012 with Rocket 247sports.biz Internet backing, Jumia has grown to become a leader in its home country and has expanded to other African markets such as Kenya and Egypt, where it is now headquartered. Its services include a marketplace that connects buyers and sellers, a payment service that facilitates transactions between participants in specific markets and a logistics service for the shipment of goods from sellers to consumers.
The company’s stock, which raised in the last year and remains unprofitable, has soared to a value of around 3,000% from $2-$4 just a few years ago, but its losses are still a concern for investors. Several investors who have spoken to TechCrunch believe the pan-African e-commerce giant is light-years from achieving profitability.
Jumia’s losses are not coming down anytime soon.
Despite its setbacks, the e-commerce company has progressed in some areas of its business, especially in everyday items like FMCG and food delivery. This was a key factor in the company’s Q2 2022 results, which showed varying double-digit growth in orders, active quarterly customers, GMV and revenue.
In the same period, JumiaPay, the company’s payment arm, recorded TPV growth of 36%, its fastest growth of the year. Meanwhile, its logistics business grew in triple-digit quarter-over-quarter.
Jumia’s newest management is taking a different approach to growing the business.
According to a press release from the company’s Supervisory Board, co-founders Jeremy Hodara and Sacha Poignonnec have stepped down as chief executive officers effective today. They will be replaced by Francis dseklmsspace.com Dufay, who has been with the e-commerce firm since 2014 and most recently served as the CEO of its Ivory Coast office.
Dufay will oversee the company’s global strategy, while Hodara and Poignonnec will remain on the board and report to him. Both men were instrumental in the launch and expansion of Jumia’s product portfolio and have worked on many of the platforms that currently exist within the company, including a payments arm and a logistics platform.
He is also involved in the company’s business development across a range of new countries and industries, as well as in product re-engineering initiatives.
During the interview, I asked him about some of the challenges and opportunities Jumia has faced in the past and how he believes the company can make its way to profitability.
In terms of the future, Kene believes that a big part of his role is to help Jumia achieve a unified and inclusive African vision for its brand. He believes that a single platform with multiple features and offerings will be able to address many of the region’s problems, such as access to information, employment, and education.
Kene also believes polyvore.life that the company needs to be a true partner with its users, as opposed to a middleman. He believes that Jumia should provide a platform that allows for a true, seamless and fast consumer experience.
