Despite the revenue growth, marketplace revenue, which management had recently billed as the future of the business, stalled, falling from 7.3% to $25.3 million. Instead, first-party revenue was the main driver of the company’s growth.
Also the question is, is Jumia stock a good buy? Jumia‘s business is stabilizing, but its mediocre growth rates and massive losses make it a risky stock to own as rising interest rates and geopolitical headwinds pummel the market.
Also, who is the CEO of Jumia South Africa? I spoke with Jumia co-CEO Jeremy Hodara to get his insights on these two questions and on issues that have faced the company in the past.
Best answer for this question, what is wrong with Jumia? Jumia left fragmented markets that are hostile to ecommerce with underdeveloped digital payment services and a poor logistical and delivery infrastructure that led to high managing operations costs. In addition, the company downsized its operations in Nigeria, its biggest market.
Beside above, who are Jumia competitors?
- Souq — owned by Amazon — is leading in the Egyptian market.
- Jiji — with over 8 million monthly active users, Jiji is a strong competitor in Nigeria.
- Konga — has been an war with Jumia for years in a battle to dominate the Nigerian ecommece market.
Why is jumia going up?
Jumia Technologies (NYSE:JMIA) stock is rising higher on Monday following news of a deal with United Parcel Service (NYSE:UPS). The deal between the two companies will have Jumia handling the last-mile delivery of packages shipped through UPS. This allows UPS to expand its business in Africa to more areas.
Why is jumia up today?
Why Jumia Stock Skyrocketed Today Shares of African e-commerce company Jumia Technologies (NYSE: JMIA) skyrocketed on Monday on news that it had partnered with United Parcel Service (NYSE: UPS). The company will provide shipping logistics to UPS, and this had Jumia stock up 29% as of 1 p.m. ET today.
How do you buy stocks on wish?
Shares of WISH can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Will Jumia grow?
Jumia reports 30% growth in value of goods sold on its platform during Black Friday season this year. E-commerce in Africa is growing fast and its potential remains enormous as more people get connected to the internet.
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What percentage does Jumia take?
In line with the Federal Government’s directive on the Finance Act 2019, the Value Added Tax (VAT) applicable on goods and services offered by Jumia would be increased from 5% to 7.5% effective on the 1st of February 2020.
What is the meaning of Jumia?
Jumia is Arabic/Muslim girl name which means “Heaven; The Sun”.
Are Jumia products original?
Are all products on Jumia original, new/unused and genuine? Yes, We are committed to offering our customers 100% genuine and original products. We also take the necessary actions to ensure that any seller found to be selling non-genuine products is immediately delisted from selling on Jumia.
Is Jumia better than Konga?
Verdict: Jumia is rated higher than Konga in terms of global internet engagement.
How many Nigerians are using Jumia?
Nigerian e-commerce platform Jumia had 6.8 million active customers in the last quarter of 2020, up from 6.1 million LTM (last 12 months) active customers in the corresponding quarter of the previous year.