Jumia taps former Britam Commercial Director Betty Mwangi as CEO

KENYA – E-commerce platform Jumia has announced the appointment of Betty Mwangi, as Kenya’s new Chief Executive Officer to take over from former boss Sam Chappatte. The company said Betty will focus on accelerating corporate growth. Betty is an engineer with 20 years of experience in the telecommunications, insurance, and pharmaceutical industries, she previously served as Group Commercial Director for Britam Group PLC from 2016 to 2021, a company she originally joined in 2013. She also worked as Director of Financial Services for Safaricom MPESA from inception in 2007 to 2016.  “Betty…

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Ecommerce platform Jumia partners fintech vaIU to provide new online payment channels

EGYPT – Jumia, an e-commerce platform, JumiaPay the fintech electronic payments platform, and valU the Buy-Now Pay-Later (BNPL) fintech platform in the Middle East and North Africa, have signed agreements to enable valU to become a payment solution via Jumia and JumiaPay. The partnership allows JumiaPay as a payment gateway to manage the payment operations of valU consumers by linking valU and JumiaPay for electronic payment services. The deal will commence with an offer that clients will benefit from while shopping and paying in instalments over 9 months interest-free through…

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E-Commerce platform Jumia partners Accra-based eco-friendly mobility company SolarTaxi

GHANA – Jumia, an e-Commerce platform, has partnered with Accra-based eco-friendly mobility facilities company SolarTaxi to provide affordable and eco-friendly delivery of online orders to consumers. Jumia said that this comes with a shared vision of ensuring a clean and sustainable environment using renewable energy, coupled with the need to keep consumers safe especially during future waves of COVID-19. Consumers who order food, groceries and other essential items on Jumia can get their orders delivered conveniently and environmentally friendly to their homes or offices by SolarTaxi riders. “Partnering with SolarTaxi…

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JumiaPay partners National Bank of Egypt to offer financial services

EGYPT – Jumia, a Pan-African eCommerce platform, has partnered with the biggest state-owned bank in Egypt, the National Bank of Egypt (NBE), to offer some financial services via its payment channel and business line, JumiaPay. This partnership comes after the NBE obtained an approval-in-principle from The Central Bank of Egypt (CBE) to engage JumiaPay in processing off-the-platform payments for third-party merchants on the Jumia eCommerce marketplace in Egypt. As a result of the partnership, some services are now licenced on the JumiaPay business line for Egyptians, and they are, Payment…

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E-commerce company Jumia launches new initiative to support SMEs

EGYPT – Jumia, an e-commerce program, has announced its aim to inspire SMEs reach new consumers and increase their sales by encouraging the purchase of their products and enhance the role of local production to boost the country’s economy. Jumia launched a new initiative at the beginning of the Holy month of Ramadan under the theme of “Support Them … Buy Their Products”, as part of its support for the local industries, especially small and micro-enterprises. This is a part of Jumia’s exerted effort over the past few years to…

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Jumia to establish new technology centre in Egypt to provide to provide unprecedented services in the market

EGYPT – Jumia, an e-commerce platform has announced that it is embarking on a new technology centre in Egypt that is inspired by Egypt’s leadership in the field of information and communications technology as a result of its well-trained cadres. Jumia has announced that the Egyptian market has been chosen officially to host a technology center to be the new Jumia technology center in Africa to provide its services to the Egyptian market as well as Africa at large. The center was pre-launched last year for a test and postponed…

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Jumia opens its logistics service to third parties in 11 African countries

AFRICA – Jumia has announced that its logistics service, which until now are reserved for e-commerce and food vendors operating on its marketplace, is now available for use by third parties who wish to leverage its network, technology and expertise for last mile deliveries across 11 countries in Africa. “Our technology and last mile services have a wide coverage that enhances faster turnaround time, reliable handling of products and transparent reporting, all of which have contributed to the success of Jumia, both in urban and rural areas,” Senior vice president…

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MTN rakes in US$141m from sale of Jumia stake

SOUTH AFRICA – South Africa’s telecommunication giant MTN has revealed that it has now exited its 18.9% stake in the continent’s online retailer Jumia, making US$ 141m net proceeds from the deal. MTN said in August it had filed with the New York Stock Exchange to prepare for a secondary sale of Jumia shares as part of a US$1.5 billion divestment plan aimed at simplifying its portfolio over the next three to five years. “We are proud to have been a partner in the evolution of one of Africa’s pioneering…

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MTN seeks to sell stake in Africa’s eCommerce giant Jumia Technologies

SOUTH AFRICA – MTN Group Limited, South African multinational mobile telecommunications company is planning to offload part or all of its US$243m interest in Jumia Technologies AG, Africa’s largest online retailer. Called Africa’s Amazon, Jumia operates in 14 African countries including Nigeria and Ivory Coast where the US giant still lacks distribution infrastructure. This is part of the telco’s effort to reduce debt and drive future growth by disposing non-core assets According to Bloomberg News, MTN would be taking advantage of the fact that Jumia’s shares have gained about 142% so far…

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Jumia remains bullish on its road to profitability despite reporting loss in Q1

AFRICA – Jumia, an Africa focused eCommerce company, has announced its first quarterly report for 2020. After surviving a difficult 2019, the online retailer was looking to rebuild in 2020 and strengthen its path to profitability.   However, the COVID-19 pandemic has made a serious dent on the global economy, threatening a global recession and having a toll on Jumia’s African markets. It saw its losses narrow slightly even as revenue dropped by 7% in the first quarter of 2020, as the impact of the coronavirus pandemic varied by product category and country. …

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