In 2023, Jumia revised its adjusted EBITDA loss guidance thrice: $100-120 million in Q1, $90-100 million in Q2, and $80-90 million in Q3, aiming for a 57-61% year-over-year reduction if met. The company exceeded these expectations and significantly outperformed in that regard. It ended the year with $58.2 million in adjusted EBITDA loss, marking a … Read more
Pan-African e-commerce platform Jumia has disclosed its intention to discontinue its food delivery service, Jumia Food. The company said its food delivery business is not aligned with the current operational landscape and prevailing macroeconomic conditions in the seven markets, including Nigeria, Kenya, Uganda, Morocco, Tunisia, Algeria and Ivory Coast. As a result, Jumia will cease … Read more
Q1 2023 marks the primary quarter Jumia’s new administration applied its technique after driving out the blueprint of earlier administration in This autumn 2022. The consequence? Jumia noticed its losses lower considerably: adjusted EBITDA loss dropped 51% year-over-year to $27 million, on monitor to satisfy the corporate’s end-of-year goal of $100-120 million in adjusted losses. … Read more