Reuters: Jumia Technologies Expands Free Shipping Service to Boost Revenue

Mar 02, 2022

(Image Source: Bloomberg)

Africa’s leading e-commerce marketplace Jumia Technologies is offering free shipping in more locations to increase usage this year. Founded in 2012, Jumia became the first Africa-focused tech startup to be listed on New York Stock Exchange in 2019. The company aims to create a unified marketplace for vendors, food sellers and all other related services.

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Last year, the “Amazon of Africa” reported a $196.7 million loss before interest, taxes, depreciation and amortization (EBITDA), up from $136.3 million in the previous year. According to them, this figure could reach $200-$220 million in coming months as it focuses on ramping up growth. Meanwhile, 2021 also saw around 20% growth in total orders and approximately 17 % rise in the number of active users. 

“We are handling more customers than ever before,” said Co-Founder and Chief Executive Jeremy Hodara during a recent investment briefing. Moving forward, the firm will increase free shipping of goods by stocking more merchant products in its warehouses. It will also seek new clients for its logistics business, on top of the existing ones like Nigerian Bottling Co.

Source: Jumia Technologies eyes free shipping, logistics service to boost income

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