Jumia Technologies AG is an e-commerce platform operating in Africa. The company was founded in 2012 by Sacha Poignonnec and Jeremy Hodara, with the aim of revolutionizing online shopping in Africa and providing a platform for consumers to buy and sell products and services.
Jumia offers a wide range of products, including electronics, fashion, beauty products, home appliances, groceries, and more. The platform connects buyers and sellers, providing a convenient and secure online marketplace for customers across Africa. Jumia operates in multiple countries, including Nigeria, Egypt, Morocco, Kenya, and South Africa, among others.
In addition to its e-commerce platform, Jumia also offers various services to facilitate online transactions. These services include payment solutions, logistics, and delivery services. JumiaPay, the company's payment solution, enables customers to make secure online payments and provides a platform for digital financial services.
Jumia went public in April 2019, listing its shares on the New York Stock Exchange (NYSE) under the ticker symbol "JMIA." The initial public offering (IPO) was a significant milestone for the company, as it demonstrated investor confidence in the potential of e-commerce in Africa and provided Jumia with additional capital to support its expansion and growth plans.
Since its founding, Jumia has experienced both successes and challenges. The company has played a pivotal role in expanding access to online shopping in Africa, overcoming infrastructural and logistical hurdles. However, it has also faced competition, regulatory complexities, and operational challenges unique to the African market.