Welcome to our dedicated page for Jumia news (Ticker: JMIA), a resource for investors and traders seeking the latest updates and insights on Jumia stock.
Jumia Technologies AG (JMIA) operates Africa's leading e-commerce ecosystem, connecting millions with sellers through its marketplace, logistics network, and JumiaPay. This page serves as the definitive resource for tracking corporate developments shaping Africa's digital commerce landscape.
Access timely updates including earnings reports, strategic partnerships, market expansion initiatives, and technology innovations. Investors gain insights into operational milestones while analysts monitor progress against regional e-commerce adoption trends.
Our curated news collection features official press releases alongside verified market analysis. Stay informed about logistics network enhancements, payment system upgrades, and consumer growth metrics without speculative commentary.
Bookmark this page for streamlined tracking of JMIA's evolving role in African tech and retail. Check regularly for updates on cross-border trade developments, seller ecosystem expansions, and financial performance indicators essential for market evaluation.
Jumia Technologies AG (NYSE:JMIA), a leading e-commerce platform in Africa, has announced the planned closure of its operations in South Africa and Tunisia by the end of 2024. This strategic decision aims to optimize resources and focus on markets with stronger growth potential. For the year ended December 31, 2023, and the six months ended June 30, 2024, these two markets combined accounted for only 3.5% and 2.7% of total orders, and 4.5% and 3.0% of GMV, respectively.
CEO Francis Dufay stated that this difficult decision was made after thorough analysis, considering the growth potential and contribution of these markets to Jumia's overall business. The company expects this move to improve overall operational efficiency and accelerate growth in its remaining nine markets.
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.
Jumia Technologies AG (NYSE:JMIA), a leading e-commerce platform in Africa, has successfully completed its previously announced 'at-the-market' (ATM) offering of 20,227,736 ADSs. The offering generated $99.6 million in gross proceeds before commissions and expenses. Jumia plans to use the funds for general corporate purposes, including customer acquisition, expanding its supplier base, scaling its logistics network, and improving marketing and vendor technology.
CEO Francis Dufay stated that the additional capital will help strengthen Jumia's balance sheet and accelerate its growth trajectory towards profitability. The ATM offering was conducted with RBC Capital Markets, and Berenberg Capital Markets as the Company's agents, following the filing of a prospectus supplement with the SEC on August 6, 2024.
Jumia Technologies AG (NYSE: JMIA) reported a 17% decline in revenue to $36.5 million for Q2 2024, but 15% growth in constant currency. Gross Merchandise Volume (GMV) dropped 5% to $170.1 million, but grew 35% in constant currency. Operating loss decreased by 8% to $20.2 million.
Adjusted EBITDA loss improved by 10% to $16.3 million, while net cash flows used in operations fell to $8.4 million from $19.5 million in Q2 2023. The company’s liquidity position stood at $92.8 million, down $8.7 million for the quarter.
Key expenses showed mixed results: fulfillment expenses decreased 12%, sales and advertising expenses dropped 19%, but technology and content expenses fell 18%. General and administrative expenses increased by 4%. Despite revenue decline, GMV in six countries posted growth.
Jumia Technologies AG (NYSE:JMIA) has announced that it will release its second quarter 2024 financial results on Tuesday, August 6, 2024, before the U.S. market opens. The company will host a conference call to discuss the results at 8:30am ET on the same day. Interested parties can access the call using provided dial-in details for the US, International, and UK lines. A live webcast of the earnings call will be available on Jumia's Investor Relations website. Additionally, a replay of the conference call will be accessible until August 20, 2024, using specific replay passcodes for toll-free and international access.
Jumia Technologies (NYSE:JMIA), a prominent e-commerce platform in Africa, is set to participate in the Northland Virtual Growth Conference on June 25, 2024. The announcement made on June 18, 2024, highlighted that Francis Dufay, Chief Executive Officer, and Antoine Malliet-Mezeray, Executive Vice President of Finance and Operations, will represent Jumia in one-on-one meetings at the event. Interested parties are encouraged to contact their Northland representative to arrange a meeting with the Jumia executives.
Jumia (NYSE:JMIA), a leading African e-commerce platform, has opened two new integrated warehouses. These include a 30,000 square meter facility in Isolo, Lagos, Nigeria, and a 5,000 square meter facility in Bouskoura, near Casablanca, Morocco. This expansion aims to enhance Jumia's logistics capabilities, improve efficiency, reduce costs, and shorten delivery times. The centralized locations of both warehouses are expected to streamline order processing and boost local economies through job creation. According to CEO Francis Dufay, these facilities will help Jumia meet the rising e-commerce demand in Africa by increasing storage capacity and expanding product range.
Jumia, Africa's leading e-commerce platform (NYSE:JMIA), has announced two new Buy Now, Pay Later (BNPL) partnerships in Nigeria with Easybuy and CredPal. These collaborations aim to enhance Nigerian consumers' access to Jumia's marketplace by enabling them to make purchases and pay over time, thus promoting cashless payments. Sunil Natraj, CEO of Jumia Nigeria, emphasized that these partnerships align with Jumia's mission to broaden payment options and foster financial inclusion. The initiative is expected to drive e-commerce adoption, meet growing consumer demand, and support Jumia's journey toward profitability.
Jumia Technologies AG (NYSE:JMIA) reported strong financial results for the first quarter of 2024, with revenue of $49 million, up 19% year-over-year, and GMV of $181 million, up 5% year-over-year. The operating loss decreased by 71% year-over-year, and adjusted EBITDA loss decreased by 83% year-over-year. The liquidity position was $101 million, showing disciplined cost management and improvements in cash utilization. Despite challenging macro environments in some markets, Jumia's strategic efforts resulted in growth and efficiency improvements.
