Jumia Announces New Integrated Warehouses in Egypt and Ivory Coast

Rhea-AI Summary

Jumia Technologies AG (NYSE:JMIA), a leading African e-commerce platform, has announced plans to open new integrated warehouses in Cairo, Egypt, and Abidjan, Ivory Coast. This expansion is part of Jumia's strategy to optimize operations and enhance efficiency across its pan-African network. The new facilities are designed to:

• Enable upcountry expansion
• Drive e-commerce growth
• Increase cost efficiencies
• Improve employee experience
• Provide increased capacity for future growth

The Cairo warehouse will be approximately 27,000 square meters, while the Abidjan facility will span about 36,000 square meters. Both are expected to be fully operational by January 2025. This initiative follows similar projects in Lagos, Nigeria, and Casablanca, Morocco, aligning with Jumia's goal to improve customer service and move towards profitability.

Positive

• Expansion of warehouse capacity in Egypt and Ivory Coast
• Strategic positioning for upcountry expansion and e-commerce growth
• Expected improvements in cost efficiency and operational optimization
• Potential for better customer service through improved convenience and delivery times

Negative

• None.

News Market Reaction

+5.64%

1 alert

+5.64% News Effect

On the day this news was published, JMIA gained 5.64%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Strategy to Centralize and Integrate Warehouses Improves Jumia's Storage Capacity and Efficiency While Driving E-commerce Growth

CAIRO, EGYPT and ABIDJAN, IVORY COAST / ACCESSWIRE / October 10, 2024 / Jumia Technologies AG, (NYSE:JMIA) ("Jumia" or "the Company") a leading e-commerce platform in Africa today announced the planned opening of new warehouses in Cairo, Egypt, and Abidjan, Ivory Coast.

The new warehouses are strategically positioned to enable upcountry expansion and in turn drive e-commerce growth while increasing cost efficiencies, improving employee experience, and providing the increased capacity Jumia will need as the Company continues to grow. This expansion aligns with our strategy to optimize operations and enhance efficiency across our pan-African e-commerce platform and follows similar initiatives in Lagos, Nigeria and Casablanca, Morocco.

Francis Dufay, CEO of Jumia said, "The expansion of our warehouses in Egypt and Ivory Coast mark a key part of Jumia's growth trajectory. By enabling us to expand supply capacity and improve convenience and delivery times, we are able to better serve our customers while positioning Jumia for upcountry expansion. These openings, in conjunction with our broader customer acquisition acceleration initiatives and consolidation of our warehouse footprint position Jumia to best capture e-commerce demand in Africa and move towards profitability."

The new facility in Egypt will be approximately 27,000 square meters and the facility in Ivory Coast will be approximately 36,000 square meters.

Both facilities are expected to be operating at full capacity by January 2025.

About Jumia

Jumia is a leading pan-African e-commerce platform, with operations across 11 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, which connects more than 64,000 sellers with customers, a vast logistics network, which 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. For more information, visit the Company's website at https://group.jumia.com/.

Contact

Investors:

Sloane & Company
jumia@sloanepr.com

Media:

Abdesslam Benzitou - Group Head of Public Relations and Communication
abdesslam.benzitouni@jumia.com

SOURCE: Jumia Technologies AG

View the original press release on accesswire.com

FAQ

What is the size of Jumia's new warehouse in Cairo, Egypt?

Jumia's new warehouse in Cairo, Egypt will be approximately 27,000 square meters.

When are Jumia's new warehouses in Egypt and Ivory Coast expected to be fully operational?

Both new warehouses are expected to be operating at full capacity by January 2025.

How does the warehouse expansion align with Jumia's (JMIA) overall strategy?

The warehouse expansion aligns with Jumia's strategy to optimize operations, enhance efficiency across its pan-African e-commerce platform, and move towards profitability.

What are the expected benefits of Jumia's (JMIA) new integrated warehouses?

The new warehouses are expected to enable upcountry expansion, drive e-commerce growth, increase cost efficiencies, improve employee experience, and provide increased capacity for future growth.