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Jumia Technologies AG (NYSE: JMIA) is the leading pan-African e-commerce platform. Established in 2012 and headquartered in Africa, Jumia connects sellers with consumers through its robust marketplace. Its operations span 11 African countries, making it a key player in the continent's online retail space. The platform is comprised of a marketplace that offers a wide range of goods and services, a logistics service that facilitates the shipment and delivery of packages, and JumiaPay, a proprietary payment service that simplifies transactions in selected markets.
Jumia's core business revolves around diverse categories such as online retail, real estate, vehicle marketplaces, and more. The company is committed to improving the quality of everyday life in Africa by leveraging technology to deliver convenient and affordable online services. Recent strategic shifts have seen Jumia streamline its focus onto its physical goods business, discontinuing its food delivery service, Jumia Food, to optimize capital and resources for profitability.
Jumia has made significant strides towards financial stability and growth. For the third quarter of 2023, the company reported an adjusted EBITDA loss of $14.9 million, a substantial reduction from $45.5 million in the same period the previous year. The company continues to enhance cash efficiency and aims to achieve profitable growth, with forecasts indicating further reductions in losses for the fiscal year 2023.
The company is also exploring innovative payment solutions, such as its recent partnerships in Nigeria to offer Buy Now, Pay Later (BNPL) options through Newedge (Easybuy) and CredPal. These initiatives are designed to boost e-commerce adoption and financial inclusion across the continent.
Jumia's mission is to bridge the gap between brands and consumers, ensuring a consistent supply of goods at competitive prices. As Jumia continues to grow, it remains focused on expanding its logistics network, improving operational efficiency, and delivering a superior shopping experience for its customers.
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.
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