Posts Tagged ‘Jumia’

JUMIA admits to fraud as it reports Q2 2019 earnings

After months of denials, JUMIA Group has finally admitted to some internal fraud related to its sales and orders. This relates to what JUMIA says were orders that were placed on the e-commerce platform in Nigeria only to be later cancelled. As a result, and something iAfrikan during June 2019, JUMIA says it has laid […]

Jumia boosts eCommerce with new $300m investments

The profile of Nigeria’s electronic commerce (eCommerce) sector got a boost at the weekend with a fresh $300 million investment from Jumia. Jumia explained that new investment came from global investors including top tier investment bank Goldman Sachs and renowned French Insurer AXA. The firm explained that the majority of these investments would be directed […]

ECONOMIC WOES| Over 500 Jobs Lost In The E-Commerce Sector In 3 Months

Nigeria’s declining economic fortunes has begun to threaten the strong growth being recorded by the nascent electronic business sector, which has become one of the major drivers of the economy in the last three years. Five major operators cutting across retail, hotel booking and classifieds all reported about 25 to 30 per cent reduction in their […]