Jumia’s revenue fell by 10% to $167.5 million in 2024 as the e-commerce giant continued its cost-cutting efforts. However, its operating loss also decreased by 10% to $66 million, reflecting improved efficiency.
The company exited the South African and Tunisian markets in 2023 to focus on larger economies like Nigeria, Egypt, and Morocco. Despite this, active customers declined only slightly (5%) to 5.4 million, while order volume grew by 6% to 22.7 million. Gross merchandise value (GMV) dropped 4% to $720.6 million, mainly due to currency devaluations.
JumiaPay transactions surged by 20% to 10.1 million, reinforcing Jumia’s push for cashless payments. Looking ahead, Jumia forecasts 10-15% GMV growth in 2025, aiming for expansion beyond major cities, competitive pricing, and stronger ties with international sellers.
Read the full news here: TechPoint Africa