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FRANCIS DUFAY
Africa’s e-commerce giant, Jumia, said it is reshaping its business strategy to defend market share, boost profitability, and...
Africa’s e-commerce group, Jumia, posted a $20.2 million operating loss in Q2 2024 amid a 17% decline in revenue.
E-commerce juggernaut, Jumia Technologies AG, is set to consolidate all three warehouses into a singular 30,000sqm depot in Lagos, as part of its profitability strategy in Nigeria.
Jumia’s gross merchandise value (GMV), that is, the total amount customers paid before deductions like fees, discounts, or returns, also surged by 5% year-over-year to $181 million.
E-Commerce, despite its potential as a goldmine, remains one of the most challenging business sectors in Nigeria and indeed, the African continent.
Africa’s e-commerce group, Jumia, recorded a 54% decline year-on-year in its operating loss in Q1 2023, resulting in a $31 million deficit at the end of the quarter.