“Since assuming the role of CEO, I have focused on initiatives aimed at strengthening our business and placing us on a path to profitability,” Dufay said during the announcement of the market exits. “After a thorough analysis, we made the difficult decision to close down our operations in South Africa and Tunisia. Competitive and macroeconomic conditions in both markets have limited their growth potential, and their contribution to our overall business has not aligned with expectations.”
Today, Jumia is concentrating its efforts in core markets with higher growth prospects, including Nigeria, Kenya, Egypt, and Morocco. The company is also doubling down on high-potential verticals such as everyday essentials and digital financial services via its JumiaPay platform.
While appearing on to discuss the company’s journey and state of e-commerce in Africa, Jumia’s East African Regional CEO Vinod Goel, also revealed that the company is gearing up for major innovations, including increasing product offerings from original and international brands (targeting 60%) and opening its logistics infrastructure to third parties.
“We’re focusing on innovations that not only improve the customer experience but also create value for other businesses across the ecosystem,” Goel noted during the interview.
The investment from AXIAN Telecom, known for its expansive footprint in telecommunications, digital infrastructure, and financial services across Africa, represents a vote of confidence in Jumia’s turnaround strategy and long-term potential.
AXIAN Telecom said in a statement seen by TechTrends Media that it remains committed to supporting the development of Africa’s digital economy, including through investments in companies like Jumia. Such investments it says, complement its core mission of delivering accessible, innovative, and inclusive digital services across the continent, mainly via its Yas (mobile) and Mixx by Yas (fintech) brands.
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