JUMIA: Payment platform gains momentum, becomes 1st African e-commerce in New York Stock Exchange

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Jumia

Jumia, a leading Pan-African e-commerce platform, present across 14 countries in Africa has recounted its over 30% payment received through the payment platform and its enlisted at the New York Stock Exchange, among others as its major milestone in 2019.

The Co-Founder and Co-Chief Executive Officer of Jumia Group, Jeremy Hodara while reviewing the Company’s activities for the year 2019 stated that Jumia which has become a major player in the e-commerce sector will ensure its growth across its platform to satisfy its consumers.

 According to Hodara, a major milestone recorded in 2019 was the impressive acceptance of the Jumia Pay payment platform by consumers using the Jumia platform. Jumia Pay accounted for over 30% of transactions in the third-quarter of 2019.

“Another major achievement for the Company in 2019 was its listing on the New York Stock Exchange (NYSE), thus making Jumia the first e-commerce Company in Africa to be listed on the floor.

The report also showed that Jumia expanded e-commerce opportunities in Ibadan and Edo states in the year under review while also extending e-commerce penetration to more rural areas in Bayelsa and Bonny in Rivers State, where choices for products are extremely limited. To better serve its customers in the remote areas, Jumia launched its cash-on-delivery programme for customers in 15 cities in the North and South-East regions.

Speaking further on the expansion of the Jumia’s logistic network as another area of improvement in 2019, Hodara said, “we integrated more than 30 new logistics partners and opened more than 50 Last Mile delivery hubs to facilitate deliveries for our sellers to consumers”, he said.

“We launched International Sneakers Day and Home of Brands marketing campaigns to drive e-commerce penetration in Nigeria. Again, in 2019, the Jumia App, was the most downloaded App in the Nigerian e-commerce space. Jumia was also recognized as one of the best places to work by Jobberman”.

Hodara restated that Jumia is keen on positioning the company for enhanced profitability and better services for its teeming customers.

“Our focus for the next growth is to increase the purchasing power of customers, build a robust platform for Jumia Pay, partner with vendors and be the best logistics provider in Nigeria”, he said.

Meanwhile, as part of the company’s drive for excellence along the lines of the next growth phase, erstwhile Chief Executive Officer, Jumia Nigeria, Juliet Anammah has been elevated to the position of the Chairwoman of Jumia Nigeria and Head of Institutional Affairs of Jumia Group. Consequently, Mr. Massimilliano Spalazzi assumed the role of Chief Executive Officer at Jumia Nigeria, while still functioning in his position as the Executive Vice President of Marketplace.

Spalazzi, in his response, said he is determined to align with the company’s growth plans for the coming years to drive the Nigerian business and indeed the growth of e-commerce in Africa as he assumes his new role as the Chief Executive Officer of Jumia Nigeria.  “I am happy to assume this role and we are committed to growing the e-commerce business in Africa. By this, we are inventing and diversifying our businesses to better cater to our customers. At Jumia, we are the custodian of our customers’ happiness”, he said.

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