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Jumia has launched a Buy Now, Pay Later (BNPL) service in Algeria in partnership with local fintech Diar Dzair. This move targets financial inclusion in underbanked markets.
Jumia shares rose 2% after AXIAN Telecom took an 8% stake. The move signals new confidence in Africa’s e-commerce leader.
AXIAN Telecom takes 8% stake in Jumia after Baillie Gifford exit. This major investor reshuffle signals a strategic telecom-backed partnerships in African e-commerce.
The initiative represents a strategic pivot for Jumia, following a period focused on cost optimisation.
Jumia’s stock rose 20% Friday after the company reaffirmed its path to profitability by 2027, even as losses widened and revenue fell in Q1 2025.
"We believe to be on track for the fourth quarter of 2026, targeting full-year profitability on a loss before income tax basis in 2027," said optimistic CEO Francis Dufay
Verve cardholders across Africa can now shop on Temu and pay in local currency, expanding e-commerce options.
The e-retailer will leverage the nine countries left, representing more than 625 million people, 54% of Africa’s internet users, and 49% of Africa's GDP
Despite the bleeding results from all corners, Dufay's 2025 strategy is driving top-line growth and improving operational efficiencies.
With Amazon expanding to Egypt and Temu taking on Nigeria, Jumia's chances of success are reliant on its nine markets concentrated in West and East Africa.
This partnership has the potential to boost transaction volumes for PalmPay, a strong competitor to JumiaPay, Jumia's fintech arm
Jumia is still in the race to attain profitability and faces unusual competition from social commerce. But the e-commerce giant is not laying low.
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