TechCabal Daily – Jumia’s losses slow to $47.4 million in Q1 2020

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Jumia’s quest to become Africa’s largest ecommerce company has come under scrutiny in recent years. Despite a bright start and a lead up to a promising IPO, many observers seem to have lost patience with a strategy that sacrificed profits for growth.

But Jumia understands that the party is now over and has been tightening their business in the last two years or so. In Q1 2020, there are all the signs that Jumia is making all the right decisions to not only survive, but ultimately achieve their goal of ecomerce domination.

For Q1 2020, despite a pandemic, Jumia’s losses have slowed to $47.4 million. It is lower than losses from both the previous quarter ($69.2 million) and Q1 2019 ($49.4 million).

Although the company’s Merchandise Volume
is down, Abubakar Idris argues that Q1 2020 is quite the turnaround for Jumia.

“A hospital is a business; now how do you start a business without funding?”

Nigeria’s health sector is underfunded. Years of government neglect has led to hospitals that only manage to stay provide the basic services.

In the private sector, private hospitals do not often raise funding from external sources. A survey by Helium Health says that 57% of private hospitals have never raised funding from external sources.

Helium Health is now looking to solve those problems, first by digitizing hospital records. It will then go a step further by providing credit facilities for healthcare providers.

Here’s how the Healthtech company hopes to achieve these big plans.

While Nigeria and Ghana have lifted lockdowns, South Africa will continue to enforce lockdowns till May 4th.

President Cyril Ramaphosa announced that “by the end of May, most of the country should be placed on alert level 3. Those with the highest (rate of infection) will remain on alert level 4”

The announcement comes despite calls from the business community for South Africa to relax the lockdown as the economy suffers. Read all about it here.

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There’s a lot that’s interesting about a person whose first language is ASL, was raised in the small town of Ilorin, Kwara state and landed a role at NASA.

Faith History was not always interested in computer/technology until a series of life events drove her back to gain digital skills that were pivotal in her career trajectory in digital advertising and strategy. Today, she is a strong advocate for developing and impacting digital literacy.

This is her non-tech life in tech story.