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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
The company achieved profitability in 2024 and processes over $800M annually.
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
The move marks a return to investment for Mugambi, who previously held roles in the sector before her two-year tenure at Kobo360.
Despite the bleeding results from all corners, Dufay's 2025 strategy is driving top-line growth and improving operational efficiencies.
The deal could reshape B2B e-commerce by consolidating resources and expanding service offerings
Their success in South Africa, driven by affordability and variety, showcases the potential for growth in other parts of the continent
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