E-Commerce Giant Jumia Withdraws from SA, Tunisia

Jumia Focuses on Nigeria

“The macroeconomic conditions in South Africa and Tunisia, coupled with stiff competition, have limited growth...”

Jumia exits South Africa & Tunisia, shifts focus to Nigeria & other key African markets.

Jumia Technologies AG, a leading African eCommerce platform, is strategically streamlining its operations by exiting South Africa and Tunisia. This move aims to optimize resources and focus on high-growth markets. The decision, effective by year-end, follows a comprehensive review by CEO Francis Dufay.

Jumia's South African and Tunisian operations, operating under Zando and Jumia respectively, contributed minimally to the company's overall performance. In 2023, these markets accounted for just 3.5% and 2.7% of total orders and 4.5% and 3% of gross merchandise value (GMV). Notably, these figures declined further in the first half of 2024.

“Since taking over as CEO, my priority has been to strengthen our business and drive profitability. The macroeconomic conditions in South Africa and Tunisia, coupled with stiff competition, have limited growth in both markets,” Dufay explained.

Jumia's Q2 2024 revenues dropped 25% sequentially and 17% year-over-year to $36.5 million.

In Q2 2024, Jumia's revenue declined 25% from the previous quarter and 17% from the same period in 2023, totaling $36.5 million.

Jumia Reports Q2 2024 Results: Revenue Down 25% Quarter-over-Quarter and 17% Year-over-Year to $36.5 Million.

Key Highlights:

• Jumia exits South Africa and Tunisia to focus on high-growth markets
• Decision follows thorough evaluation by CEO Francis Dufay
• South African and Tunisian operations contributed minimal revenue (3.5% and 2.7% of total orders, 4.5% and 3% of GMV)
• Closures effective by year-end

Financial Highlights:

• Q2 2024 Revenue: $36.5 million
• Sequential Decline: 25%
• Year-over-Year Decline: 17%
• Gross Merchandise Value (GMV) also decreased in Q2 2024