E-commerce company Jumia launches new initiative to support SMEs

EGYPT – Jumia, an e-commerce program, has announced its aim to inspire SMEs reach new consumers and increase their sales by encouraging the purchase of their products and enhance the role of local production to boost the country’s economy. Jumia launched a new initiative at the beginning of the Holy month of Ramadan under the theme of “Support Them … Buy Their Products”, as part of its support for the local industries, especially small and micro-enterprises. This is a part of Jumia’s exerted effort over the past few years to…

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Jumia to establish new technology centre in Egypt to provide to provide unprecedented services in the market

EGYPT – Jumia, an e-commerce platform has announced that it is embarking on a new technology centre in Egypt that is inspired by Egypt’s leadership in the field of information and communications technology as a result of its well-trained cadres. Jumia has announced that the Egyptian market has been chosen officially to host a technology center to be the new Jumia technology center in Africa to provide its services to the Egyptian market as well as Africa at large. The center was pre-launched last year for a test and postponed…

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Jumia opens its logistics service to third parties in 11 African countries

AFRICA – Jumia has announced that its logistics service, which until now are reserved for e-commerce and food vendors operating on its marketplace, is now available for use by third parties who wish to leverage its network, technology and expertise for last mile deliveries across 11 countries in Africa. “Our technology and last mile services have a wide coverage that enhances faster turnaround time, reliable handling of products and transparent reporting, all of which have contributed to the success of Jumia, both in urban and rural areas,” Senior vice president…

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MTN rakes in US$141m from sale of Jumia stake

SOUTH AFRICA – South Africa’s telecommunication giant MTN has revealed that it has now exited its 18.9% stake in the continent’s online retailer Jumia, making US$ 141m net proceeds from the deal. MTN said in August it had filed with the New York Stock Exchange to prepare for a secondary sale of Jumia shares as part of a US$1.5 billion divestment plan aimed at simplifying its portfolio over the next three to five years. “We are proud to have been a partner in the evolution of one of Africa’s pioneering…

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MTN seeks to sell stake in Africa’s eCommerce giant Jumia Technologies

SOUTH AFRICA – MTN Group Limited, South African multinational mobile telecommunications company is planning to offload part or all of its US$243m interest in Jumia Technologies AG, Africa’s largest online retailer. Called Africa’s Amazon, Jumia operates in 14 African countries including Nigeria and Ivory Coast where the US giant still lacks distribution infrastructure. This is part of the telco’s effort to reduce debt and drive future growth by disposing non-core assets According to Bloomberg News, MTN would be taking advantage of the fact that Jumia’s shares have gained about 142% so far…

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Jumia remains bullish on its road to profitability despite reporting loss in Q1

AFRICA – Jumia, an Africa focused eCommerce company, has announced its first quarterly report for 2020. After surviving a difficult 2019, the online retailer was looking to rebuild in 2020 and strengthen its path to profitability.   However, the COVID-19 pandemic has made a serious dent on the global economy, threatening a global recession and having a toll on Jumia’s African markets. It saw its losses narrow slightly even as revenue dropped by 7% in the first quarter of 2020, as the impact of the coronavirus pandemic varied by product category and country. …

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Jumia opens its online platform to advertisers to shore up revenues

KENYA – The Kenyan arm of African e-commerce giant, Jumia, is venturing into the advertising business weeks after a staff layoff was reported at the Jumia Kenya office. Sam Chappatte, CEO of Jumia Kenya, said that Jumia Advertising is launching in Kenya to tap into the advertisement market by enabling partner agencies to reach millions of visitors every month. “We are launching Jumia Advertising in Kenya, to enable agencies and partners to access c 2-3M unique visitors per month.” “Their messages will reach highly targeted segments, right at the moment…

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Jumia partners with over 50 brands to expand it authorized distributors

KENYA – Jumia, an online shopping firm, has partnered with over 50 brands to launch their Official Online Stores with Jumia Mall, allowing customers to purchase their favourite products exclusively from authorized distributors. It has also signed a new partnership deal with the Postal Corporation of Kenya (Posta) that will grow the e-commerce firm’s pick-up points across the country in the wake of today’s launch of “Mall for Brands” concept. The mall service promises same-day delivery of products. The deal with the State agency will see the Africa-focused e-commerce platform…

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Jumia Partners Pizza Hut to boost operational performance in Nigeria

NIGERIA – Jumia, leading e-commerce player in Africa, through its Food Marketplace division has entered into an on-demand pizza delivery partnership with Pizza Hut in a bid to boost operational performance and last mile delivery in Nigeria. Tony Ozanne, chief executive at Marathon Restaurant Africa, which manages and operates Pizza Hut in Nigeria, added that the partnership will play a key role in expanding Pizza Hut’s operation in the country. As a new entrant into the country’s fast food sector, the franchisee of Yum Restaurants International operates three physical outlets…

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Jumia files for Initial Public Offering on New York Stock Exchange

AFRICA – Jumia, the Pan-African ecommerce giant with a strong footprint on the continent has filed for an Initial Public Offering on the New York Stock Exchange (NYSE), making it the first African technology company to list on the exchange. The U.S. Securities and Exchange Commission (SEC) indicated that Jumia has filed to launch its IPO on the NSE though the documents did not show the timeline of the listing and share price of the IPO. According to a Reuters report, the African e-commerce company backed by MTN could be…

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