Latest news with #Jumia
Business Insider
25-05-2025
- Business
- Business Insider
Top 7 fastest-growing tech cities in Sub-Saharan Africa, 2025
This shift is driven by regional demand for digital solutions, the rise of tech hubs and incubators in African tech cities, investment in digital infrastructure, and innovative entrepreneurship The 2025 Global Tech Ecosystem Index by spotlights 7 Sub-Saharan African cities as "Rising Stars" among the world's fastest-growing tech ecosystems. These cities stand out for their innovative prowess and digital advancements, tailored to meet local and regional demands in their various host nations. Emerging from a vast region of 48 countries, their success demonstrates global recognition and stakeholder trust in their business and entrepreneurial environment. Based on key metrics like venture capital inflows, startup ecosystem value, unicorn creation, and research-university partnerships, the rankings position these 7 cities as leading innovation hubs for startups and business ventures, highlighting the region's robust growth prospects and dynamic business practices across various sectors. Notable cities driving this transformation include Lagos, Nigeria, recognized as the world's fastest-growing tech ecosystem, with a thriving startup scene and significant investment inflows. dealb Nairobi, Kenya, is another innovation and entrepreneurship hub, with a strong focus on fintech, healthtech, and e-commerce. Cape Town, South Africa, also boasts a thriving tech ecosystem, emphasizing fintech, cybersecurity, and artificial intelligence. Additionally, Johannesburg, South Africa, is a major tech hub, with a diverse range of startups and innovation centers. Kampala, Uganda, is also emerging as a key player, with a growing startup scene and increasing investment in digital innovation, cementing these cities' roles as key players in Africa's rapidly evolving technological landscape. Top 7 fastest-growing tech cities in SSA Here's a spotlight on Sub-Saharan Africa's top 7 fastest-growing tech cities in 2025 and the companies driving their growth: Rank Country Tech Companies Sector 1 Lagos, Nigeria Flutterwave , Jumia, OPay, Moniepoint, Paystack, Andela, Paga, Konga, TeamApt, Interswitch, Paymob and Okra. Fintech and E-commerce 2 Johannesburg, South Africa TymeBank, VALR, Ozow (formerly i-Pay), Pineapple, Enko Education,HyperionDev, Showmax, Liquid Telecom Fintech, Entertainment and Telecoms 3 Kampala, Uganda Ensibuuko Technologies, Billbrain Technologies, Jentroy Uganda, KaCyber Technologies, RideOk and SafeBod Fintech, IT services & Consulting, 4 Dakar, Senegal Wave, InTouch, Yobante Express, Sen'Espaces and ICT4D Fintech, Logistics and Delivery 5 Accra, Ghana Nsano, mPharma, ExpressPay, Hubtel and Youper Fintech and E-commerce 6 Nairobi, Kenya Safaricom, M-Pesa, Ushahidi, Kilimall, BitPesa, Spiro and Twiga cHives Fintech, Telecoms and E-commerce 7 Cape Town, South Africa Yoco, Aerobotics, Global Kinetic, Rock8, Luno and OobaPay Fintech and Robotics The 2025 Global Tech Ecosystem Index reflects Africa's accelerating momentum in the global innovation space. From Lagos to Cape Town, it's clear that countries within the sub-saharan are forging their own path, driven by digital ingenuity, entrepreneurial grit, and the energy of a young, determined population. Lagos, ranked as the fastest-growing tech ecosystem globally, exemplifies this shift. Despite economic challenges, Nigeria's tech sector thrives, producing industry leaders like Flutterwave, Interswitch, Jumia, Moniepoint, and OPay, valued at over $1 billion each. Other African cities are also making significant strides. Nairobi excels in fintech and clean energy, Cape Town leads in AI, biotech, and health tech, and Kigali, Kampala, and Dakar are gaining recognition for their inclusive digital ecosystems. These hubs are becoming convergence points for investors, developers, academia, and policymakers, fostering sustainable tech innovation.
Economic Key
16-05-2025
- Business
- Economic Key
Jumia Marks 13 Years in Egypt
Jumia, Egypt's leading e-commerce platform, has officially launched its 13th Anniversary Campaign, marking over a decade of serving millions of customers with a shopping experience rooted in value, convenience, and trust. Since its launch in Egypt in 2012, Jumia has played a central role in shaping the country's e-commerce landscape. By connecting millions of customers to a wide range of products and sellers, the platform has opened new commercial channels for local businesses and small and medium-sized enterprises (SMEs). Jumia's continuous investment in digital infrastructure, logistics, and fintech solutions has accelerated financial inclusion and expanded access to online payments, creating a more connected, efficient, and accessible retail ecosystem across the nation. The campaign, running from May 12 to June 1, is tagged '13 years of trust, savings, and the stories we lived together.' Leading brands such as Adidas, Samsung, LC Waikiki, AEO, and GlaxoSmithKline are participating through exclusive offers and curated product selections. Abdellatif Olama, CEO of Jumia Egypt, stated: 'This celebration is a tribute to our journey with customers, built on trust, continuity, and innovation. It also reflects a renewed commitment to expanding access to digital commerce through stronger partnerships with brands, financial institutions, and government stakeholders. Our vision remains clear: smarter shopping for every Egyptian.' This year's celebration offers customers up to 80% off across multiple categories including fashion, electronics, appliances, accessories, beauty, and home décor. The campaign is structured around key thematic phases designed to meet customer needs, featuring daily surprises, exclusive deals, and deep category-specific discounts. Peak campaign days include May 12, 19, and 26, with WOW deals, 13% discount coupons every Monday, and an upgraded Wheel of Fortune offering larger prizes. Customers can also access Super Flash Sales from Sunday to Thursday at 2 PM, along with Brand Days, Weekend Offers, and a final day on June 1 as the campaign concludes. To facilitate a seamless shopping experience, Jumia is providing flexible installment plans – 0% interest, no down payment, and no admin fees, for up to 12 months. These are available through partnerships with National Bank of Egypt, Aman, Souhoola, Contact Now, and Forsa, for purchases starting at EGP 500. Over the past 13 years, Jumia has also been a key growth partner for thousands of Egyptian sellers, providing training, marketing tools, and flexible payment facilities to help them scale. From nationwide delivery networks to strategic partnerships with banks and consumer finance companies, Jumia has made digital commerce a reality for all segments of society. تم نسخ الرابط
Associated Press
13-05-2025
- Business
- Associated Press
Jumia Expands Delivery Service to Nigeria
Following success in Côte d'Ivoire, Jumia Delivery launches in Nigeria with plans to enter more key markets LAGOS, NG / ACCESS Newswire / May 13, 2025 / Jumia, the leading pan-African e-commerce platform, today announced the expansion of its logistics service, Jumia Delivery, to Nigeria. Building on its successful operations in Côte d'Ivoire, Jumia Delivery offers individuals and businesses a fast, secure, and cost-effective parcel delivery service across the country. With one of the largest delivery fleets and a distribution network spanning over hundreds of cities, Jumia Delivery is set to revolutionize logistics and enhance shipping convenience for all. Customers can now send parcels with ease, benefiting from Jumia's reliable logistics infrastructure and extensive partnerships with third-party logistics providers. 'Africa's growing digital economy demands robust and efficient delivery services, and we are excited to introduce Jumia Delivery as a reliable solution to improve last-mile logistics. The introduction of Jumia Delivery in Nigeria, following our success in Côte d'Ivoire, is a major step forward in addressing logistics challenges and meeting the evolving needs of both individuals and businesses,' said Francis Dufay, CEO of Jumia. Following its rollout in Nigeria, Jumia plans to expand Jumia Delivery to other key markets including Kenya, Ghana and Senegal, further extending its logistics capabilities across the continent. With a customer-centric approach, Jumia continues to innovate and expand its logistics infrastructure, reinforcing its role as a key enabler of Africa's e-commerce ecosystem. About Jumia Jumia is a leading pan-African e-commerce platform, with operations across 9 African countries. Its mission is to improve the quality of everyday life in Africa by leveraging technology to deliver innovative, convenient, and affordable online services to customers, while helping businesses grow as they use Jumia's platform to better reach and serve customers. The Jumia platform consists of a marketplace that connects thousands of sellers with customers, a vast logistics network that enables the shipment and delivery of packages, and a proprietary payment service, JumiaPay, which facilitates transactions among participants active on the Jumia platform in select markets. Contact : Abdesslam Benzitouni - Global Head of Communications and Public Relations - [email protected] For more information about Jumia, follow us on LinkedIn Jumia Group and Twitter @Jumia_Group Forward Looking Statements (Jumia) This release includes forward-looking statements. All statements other than statements of historical facts contained in this release, including statements regarding our future results of operations and financial position, industry dynamics, business strategy and plans and our objectives for future operations, are forward-looking statements. These statements represent our opinions, expectations, beliefs, intentions, estimates or strategies regarding the future, which may not be realized. In some cases, you can identify forward-looking statements by terms such as 'may,' 'will,' 'should,' 'expects,' 'plans,' 'anticipates,' 'could,' 'intends,' 'targets,' 'projects,' 'believes,' 'estimates', 'potential' or 'continue' or the negative of these terms or other similar expressions that are intended to identify forward-looking statements. Forward-looking statements are based largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs. These forward-looking statements involve known and unknown risks, uncertainties, changes in circumstances that are difficult to predict and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statement, including, without limitation, the risks described under Item 3. 'Key Information-D. Risk Factors,' in our Annual Report on Form 20-F as filed with the US Securities and Exchange Commission for the year ended December 31, 2024. Moreover, new risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. Considering these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. We caution you therefore against relying on these forward-looking statements, and we qualify all of our forward-looking statements by these cautionary statements. The forward-looking statements included in this release are made only as of the date hereof. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Moreover, neither we nor our advisors nor any other person assumes responsibility for the accuracy and completeness of the forward-looking statements. Neither we nor our advisors undertake any obligation to update any forward-looking statements for any reason after the date of this release to conform these statements to actual results or to changes in our expectations, except as may be required by law. You should read this release with the understanding that our actual future results, levels of activity, performance and events and circumstances may be materially different from what we expect. SOURCE: Jumia Technologies AG press release
Yahoo
08-05-2025
- Business
- Yahoo
Why Jumia Technologies Stock Soared Today
Jumia reported a decline in revenue, but sales of physical goods grew. The company said it would be profitable by 2027. Jumia has faced a number of challenges, but profitability would be a major accomplishment. 10 stocks we like better than Jumia Technologies Ag › Shares of Jumia Technologies (NYSE: JMIA) were surging today after the African e-commerce company reported solid growth in orders, despite a decline in revenue, and guided to full-year profitability in 2027. The stock's gains seemed to come not because the overall results were strong, but because after years of challenges, Jumia appears to be at an inflection point, especially as the company had never before given profitability guidance. As of 2:07 p.m. ET, the stock was up 24% on the report. Jumia's revenue declined 26%, or 18% in constant currency, to $36.3 million, though that includes the impact of exiting Tunisia and South Africa. Gross merchandise volume (GMV) was down 11%, or 2% in constant currency, to $161.7 million. However, orders for physical goods were up 21% in the quarter, its fastest growth rate in two years, and active customers ordering physical goods rose 15%. In Nigeria, the company delivered strong results, with orders up 22% and GMV up 20%. On the bottom line, Jumia's losses continued, with an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of $15.7 million. For 2025, Jumia expects physical goods orders to grow 20%-25%, up from a prior range of 15%-20%, and it sees GMV up 10%-15% to $795 million-$830 million in the year. Management also reaffirmed its commitment to delivering profitable growth for the year. After experimenting with different businesses such as fintech and food delivery, Jumia seems to be settling into a conventional e-commerce business: shipping physical goods. Having given its 2027 profit guidance, Jumia now needs to hit it, or the stock could crumble. If it can get there, however, and do it with solid growth, there is a lot of upside potential for the company, as Africa is a huge market. Nonetheless, the company's struggles thus far should give investors some caution. Before you buy stock in Jumia Technologies Ag, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Jumia Technologies Ag wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $623,103!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $717,471!* Now, it's worth noting Stock Advisor's total average return is 909% — a market-crushing outperformance compared to 162% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 5, 2025 Jeremy Bowman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Jumia Technologies Stock Soared Today was originally published by The Motley Fool
Zawya
26-02-2025
- Business
- Zawya
African online retailer Jumia sees growth despite Chinese competition
Africa-focused e-commerce retailer Jumia Technologies will grow orders by up to 25% and continue to cut costs this year while fighting to keep its market share from Chinese competitors like Temu seeking to expand on the continent, its CEO said recently. Jumia has been aggressively cutting costs to try to turn profitable, including by reducing head count, exiting everyday grocery items and food delivery and cutting delivery services not related to its e-commerce business. Francis Dufay said the African e-commerce market was deep enough for more players like Temu, which entered the Nigerian market in December. Jumia reached six million customers last year in nine countries, which have a combined population of 600 million people, including Africa's most populous, Nigeria. "They (Temu) are spending a lot of money so they can take a share, but the market is so big it will not hurt our potential to grow," Dufay told Reuters. "There's room for everyone to grow, even if they take some share of the market." Dufay said Jumia would expand to new cities and underserved rural areas while cutting costs on operations and logistics. The company is aiming to narrow its loss before tax by as much as a third to between $65-$70m this year, he added.
