Jumia Technologies made a deal to sell French retailer Leroy Merlin’s products in West Africa.
Browsing: Sacha Poignonnec
African e-commerce firm Jumia Technologies said it was past peak losses, driving its shares up 16% despite a wider quarterly loss.
Jumia Technologies is expanding in online food delivery as the pioneering Africa e-commerce business looks to grow beyond its main market of trading phones and electronics.
Jumia Technologies is looking beyond an immediate target of generating a profit from its pioneering African e-commerce business, laying out longer-term plans to spin off divisions and enter new countries.
Jumia Technologies is facing fresh competition from start-ups in the African e-commerce and logistics market after the Covid-19 pandemic increased demand for online deliveries.
Revenues for African e-commerce heavyweight Jumia slid by 10% in the second quarter, dashing hopes that lockdowns aimed at stemming the spread of the Covid-19 would lead to a flood of online orders.
MTN Group is planning to sell part or all of its R4.2-billion interest in Jumia Technologies as it looks to pay down debt and enter new markets, according to people familiar with the matter.
Faulty payment systems, patchy network coverage, parking woes and unreliable customers are just a day in the life of a typical delivery driver for Jumia Technologies in Lagos.
Wall Street is finally turning more bullish on Jumia Technologies as its debut results as a public company quelled some fears amid a scathing report from short-seller Citron Research.
Jumia Technologies raised $196-million in an initial public offering in New York, as the Africa-focused online retailer looks to boost its profile and expand an ever-growing customer base.