Browsing: Jumia

Nigeria’s fintech unicorns are leading the way in Africa. Nigeria has four of the leading fintech unicorns on the continent. www.theexchange.africa

Celebrations are in order because Nigeria turned 61 on October 1, 2021.

In the “KINGS of Africa’s Digital Economy”, I recognized Nigerians for their hustle and that hustle has to date produced four of the leading fintech unicorns in Africa namely, INTERSWITCH, FLUTTERWAVE, CHIPPER CASH and OPAY.

You can make that five if you count JUMIA which was the first billion-dollar-plus valued company (AKA a unicorn) in Nigeria.

ANDELA is now the sixth, it began in 2014 as a training platform for junior developers in Nigeria, expanding into other African cities and now a marketplace for remote technical talent for US companies. On September 29th, 2021, ANDELA announced a $200M series E raise at a $1.5B valuation making it the latest unicorn from Nigeria. ANDELA was co-founded by Iyinoluwa Aboyeji (AKA “E”) and Jeremy Johnson who is now the CEO after E left to co-found FLUTTERWAVE making …

In June 2021, African government representatives agreed to enhance mechanisms for the mass provision of decent and affordable housing across the continent. 

With the aim of achieving social and economic development, African ministers in charge of housing and urban development, their finance counterparts, the private sector and civil society agreed in Yaoundé, Cameroon to tackle the continent’s affordable housing crisis. 

But achieving this dream is not easy without the incorporation of innovation in Africa’s real estate sector.

Read: Real estate investment in Rwanda grows by $496 million

According to The Africa Report by Knight Frank which gives the real estate market update for 2020/21, innovation offers investors exciting opportunities in the continent’s real estate markets.  

It is no doubt that Africa is now firmly established as a leading destination for serious investors and with the dearth in decent housing, the real estate sector stands as one of the biggest beneficiaries

African countries must tidy-up smart strategies for e-commerce without which they will lose out considerably on the promise of the Fourth Industrial Revolution (4IR).

Lethargy and bureaucracy in implementing favourable policies for e-commerce may cost the continent, a scenario which is unacceptable.

As Africa goes live with the African Continental Free Trade Area (AfCFTA) in January 2021, it is more compelling to boost intra-African trade through online transactions.

Read: E-commerce answer to Africa’s complicated 107 business, land borders

E-commerce, which is the monetary exchange of goods, services and information products via the Internet, will be a key component of phase two negotiations of the AfCFTA.

Africa’s share in the global US$3.4 trillion dollar e-commerce ecosystem is only 1.3 per cent with a big percentage of Africans having no access to the internet. In comparison, slightly over 18 per cent of people in Central Africa have access to the internet which …

Jumia Kenya has opened up its online platform to brands and corporate organizations for advertising.

In a move to optimise customer data, the company is marketing itself as a highly targeted platform promising great exposure to those who will take up the service.

The company’s CEO, Sam Chappatte, made the disclosure during the launch of Jumia Advertising Services (JAS) on Friday (today).

“20 per cent of active internet users in Kenya are on Jumia each month. We know our customers well – what they shop, how much they spend, etc – and can use this to present relevant adverts to them. This can enable our customers to discover relevant products & services, and will become a powerful digital marketing channel for advertisers,” said Chappatte.

Chappatte emphasized that their messages will reach highly targeted segments, right at the moment of purchase – e.g for DSTV the ads will be presented to …

Africa’s e-commerce giant, Jumia is taking bold steps to revitalize its profits after experiencing a hard turn in 2019, e-commerce giant co-founder, Jeremy Hodara revealed to Reuters.

According to Hodara, Jumia (which is listed at New Stock Exchange) current focus is on capitalizing its payments and infrastructure network and boost revenue from services for third-party sellers on its online marketplace.

The company managed to attain a $ 4 billion peak value, before plummeting in shares by almost 70 per cent since its initial public offering (IPO) in April 2019.

“We’re going to be extremely disciplined and very focused on our path to profitability,” Hodara told Reuters on Tuesday.

READ:More people in East Africa are embracing Ecommerce

In November 2019, Jumia pulled out in Cameroon and Tanzania, as well as holding its food delivery in Rwanda, thus—still Jumia’s chief has not revealed if the company plans to shrink its market …

 

Africa’s largest e-commerce platform—Jumia has closed its operations in Tanzania.

According to Reuters, the company gave out the news of its exodus which noted: “We have to focus our resources on our other markets. It is more important now than ever to put our focus and resources where they can bring the best value and help us thrive,” the statement reads.

The company which as of today has its operations in twelve countries out of 54 in Africa, has been experiencing a rather stiff challenge which includes significant losses for the past two years.

According to Jumia’s financial report, the company’s operating loss increased from $ 46 million in the second quarter of 2018 to $ 73 million in the second quarter of 2019.

The company shut down in Tanzania comes after 10 days whereby the Cameroon market lost Jumia as well.

Jumia came in Tanzania five years ago …

Jumia Food Kenya has announced the launch of Jumia Prime – a subscription package that allows customers pay a standard one, three or six months fee.

This also guarantees unlimited free deliveries on all orders placed on the Jumia Food app or website.

The service, is a first of its kind in Africa, and was introduced to Kenyans aimed at enhancing customer experience and loyalty without having to worry about paying any delivery fees. 

Managing Director East Africa On-Demand Services, Shreenal Ruparelia says the service is not only limited to food but also on alcohol, groceries, shopping or pharmacy needs.

READ ALSO:Jumia’s listing at New York Stock Exchange was long coming

Ruparelia noted the introduction of Jumia Prime is part of the company’s objective to develop innovative ways to help customers order online without having to pay additional delivery services.

This is also our way to expand

Jiji – the largest classifieds marketplace in Nigeria – has reached an agreement to redirect OLX users in Nigeria to Jiji and to acquire OLX businesses in four other countries, building a leading pan-African classifieds business

OLX, online classfied portal has been a major player in the African market for almost a decade even from its original name Dealfish.  However, things have not been going well for the online platform as new entrants including Jumia has pushed it to the blink.

And now Nigerians have come to the rescue in the name of Jiji.

Jiji and OLX have announced that both companies have reached an agreement under which Jiji will acquire OLX businesses in Ghana, Kenya, Tanzania, and Uganda, pending certain regulatory approvals, and OLX users in Nigeria will be redirected to Jiji. The transaction is backed by one of Jiji’s cornerstone investors, Digital Spring Ventures.

Joining Jiji’s family will …