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Walmart will launch its first own-branded stores in South Africa before the end of 2025, competing with Amazon and Temu in its retail market.
The move comes after the board's membership fell below the six members required by its articles of association
Jumia’s Q2 2025 earnings surprise investors with 27% stock surge and 25% revenue growth, boosting confidence in its turnaround plan
“Our second quarter results reinforces our confidence in achieving full-year profitability in 2027,” said CEO Francis Dufay, who sounded quite confident.
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
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