LAGOS - E-commerce unicorn Jumia Technologies, which last year became Africa’s first tech firm to list in New York, will focus on proving it can turn a profit after a bruising 2019, one of its co-founders told Reuters.
Jumia, which hit a peak value of close to $4 billion, has seen its shares fall by nearly 70% since its IPO last April. Its third-quarter adjusted EBITDA loss widened to 45 million euros, up nearly 27% from a year earlier, and as it burned through cash, analysts warned that raising more could be a challenge.
JumiaPay, the company’s online payment platform, is a key part of the growth plan, Hodara said. The company is interested in making it and its logistics network available to third-parties, even those not selling on its e-commerce platform.
JHodara No pain no gain. Don't give up.
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