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By Michael Jjingo In today’s business world, digital transformation is no longer a buzzword thrown around in boardrooms, it’s the air we breathe. The question is not if disruption will come knocking,…
Jumia Technologies AG, Africa’s e-commerce giant, has reported its financial performance for the second quarter of 2024, revealing a complex interplay of challenges and strategic responses. The company’s revenue for Q2 2024 stood at $36.5 million, marking a significant decline of 25% from the previous quarter and 17% from the same period last year. This downturn is reflective of broader economic challenges, particularly currency devaluations in key markets like Nigeria and Egypt, which have adversely impacted both purchasing power and operational stability. Financial Performance Overview. Jumia’s Gross Merchandise Value (GMV) also showed a decline, falling to $170.1 million in Q2…
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DHL, a global leader in logistics in collaboration with Absa Bank Uganda under the 2024 ‘Growing Beyond Borders’ entrepreneurial training programme have trained over 200 SME’s in Jinja to build their capacity to access export markets. The overall objective of the program is to empower Small and Medium Enterprises (SMEs) in Uganda by enhancing their understanding of the economic potential of international trade and its benefits. The program is being rolled out countrywide across 7 cities including Jinja, Masaka, Mbale, Mbarara, Lira, Arua and Kampala. The training workshops are free of charge, and explore importing and exporting in new markets,…
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Africa’s leading e-commerce platform, Jumia, recently recorded strong financial growth in the first quarter of 2023. This happened under her new leadership led by Francis Dufay who became full-time CEO in February 2023. Through a restructured approach and strategic cost-cutting measures, Jumia has achieved significant loss reduction, which represents a positive change for future earnings. This article explores the key factors driving Jumia’s performance and presents a strategy for the company’s future growth. Streamlined Operations and Workforce Optimization Following a comprehensive evaluation of its operations, Jumia initiated streamlining efforts in the fourth quarter of 2022. This led to a 20%…
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In 2018, the Uganda National Bureau of Standards (UNBS), conducted an operation in Kampala. It raided two prominent malls; Energy Centre and Light Centre Arcade. The majority of the shops in these two malls sell electronics. At the end of its operation, UNBS concluded that 80% of all electronics sold were counterfeit. This is not surprising. One common feature of e-commerce in Uganda is the phenomenon aptly summarized as, “what you ordered vs what you received”. To change this, Stephen Obeli Someday founded Kweli.shop, an e-commerce startup that has made it a goal to sell only genuine electronics. “We have…
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For starters, who is Ron Kawamara? Where does your story start? Ron is a husband and a father to a 4-year-old daughter. I was born in Fort Portal to a family of nine children. I attended Buhinga Primary School in Fort Portal and later Ntare School for my O’Level. After my S.4 exams, I moved to Los Angeles, California where I completed college at Los Angeles Valley College as valedictorian. I enrolled at the University of California, Berkeley, graduating with a bachelor’s degree in Political Science and Development Economics, and went on to earn a Master of Science in African…
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