ICTStartupsThe Big Story

Jumia Q2 2023 Report Highlights Reduced Losses amidst Challenging Economic Conditions.

by Jonathan Ntege Lubwama
A delivery man drives a transporter with an advertisement for Nigeria's e-commerce site Jumia in the Plateau district of Abidjan on April 24, 2019. - Jumia, the e-commerce site based in Nigeria, became on April 12, 2019 the first African start-up to make its debut on Wall Street. (Photo by ISSOUF SANOGO / AFP)ISSOUF SANOGO/AFP/Getty Images
In the e-commerce sector, the ability to improve operational efficiency and achieve profitability is the pulse that beats within every organization's heart. But for most e-commerce startups, including Jumia, it has been a journey marked with highs and lows. However, their Q2 financial report for 2023 reveals an encouraging step towards sustainability as they witnessed a noteworthy decline in losse

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About the Author

Do whatever you like to do the most. I chose journalism because I wanted to be in the places where history was being made. Journalism is in fact, history on the run. History is being made in the African Startup Ecosystem and I am here to document it. Jonathan is also the Investment Principal at Benue Capital, an early-stage VC fund. Reach out at jonlubwama@gmail.com or +256-771162922