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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 losses. The recently published financial data shows Jumia posting an operating loss of $23.3 million for Q2 2023, marking the lowest in four years. The catalyst behind this improved financial health was a significant cutback in sales and advertising expenses. While…
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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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