Jumia has shut down its e-commerce business in Tanzania. Users in the country will no longer be able to buy and sell goods from the retailer’s website, Jumia.tz. In a statement to TechCabal, Jumia said its Tanzanian exit is “part of ongoing portfolio optimization efforts.” “While Tanzania has strong potential and we’re proud of the […]
Thanks to scandals, the e-commerce company has had a rocky year since it listed on the New York Stock Exchange in April. But its Q3 report is a bit of a mixed bag.
Jumia and Transsion, two of Africa’s largest tech businesses had their IPOs in 2019. But their fortunes have largely gone in opposite directions since.
Africa-focused e-commerce company, Jumia has released its financial report for the second quarter (Q2) of 2019. This is the company’s second financial report since it became a publicly-traded company, and there are a lot of sides to the earnings report. Here’s what we know.
Jumia Prime is designed to reduce delivery costs for frequent Jumia customers. It also aims to turn infrequent and first-time customers to repeat buyers.
In 2016, Africa Internet Group (Jumia’s former parent company) raised $493 million at a $1 billion valuation making it Africa’s first tech unicorn. Jumia comprises 10 businesses (sharing the brand name) spread across 23 African nations. The company which launched in 2012, generated about $234 million in revenue in 2015, a 265% increase from the […]