InternetRetail
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Jumia pulls the plug on Cameroon and Tanzania
On November 17th, pan-African internet retailer Jumia ceased operations in Cameroon. In a statement, the company said that “We came to the conclusion that our transactional portal as it is run today is not suitable to the current context in Cameroon.” Before the end of the month, it had also exited Tanzania. According to company
25th November 2019
Categories: SagaRetail News - Africa - Retail & Shopping Malls - Cameroon
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Still burning cash, Jumia positions itself as an online bridge to Africa
Africa-focused internet retailer Jumia saw its revenue rise at an annual rate of 19.4% during Q3 2019, to €40.1 million, while its operating loss widened by 34.6%, to €54.6 million. Gross merchandise volume (the total value of orders, including those of third parties using its platform, before the deduction of any discounts or vouchers and
14th November 2019
Categories: SagaRetail News - Retail - Africa - Egypt - Retail & Shopping Malls - Ghana - Algeria - Cameroon - Cote d'Ivoire - Kenya - Nigeria - Senegal - Tunisia - South Africa - Ivory Coast
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Mastercard jumps on the Jumia bandwagon
In spite of the fact that it is heading towards an IPO (see our previous story), internet retailer Jumia is set to receive a USD50 million investment from payment services provider Mastercard in a private placement. Mastercard will also partner with Jumia to help the latter “grow its operations.” While details of their collaboration were
8th April 2019
Categories: SagaRetail News - Retail & Shopping Malls