• About
  • Advertise
  • Careers
  • Contact Us
Thursday, June 26, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home News

Jumia Records $19m in Q3 Losses, Lowest since IPO – See its Pivot Strategy

This strategic pivot, evident in the considerable 74% year-over-year reduction in Sales and Advertising expenses, amounting to $4.3 million, aligns with the company's pursuit of creating a stronger value proposition.

by Techeconomy
December 4, 2023
in News
1
Francis Dufay, Jumia Group CEO
Francis Dufay, Jumia Group's CEO

Francis Dufay, Jumia Group's CEO

UBA
Advertisements

Jumia Technologies AG) posited $19m in Q3 losses which is its lowest Adjusted EBITDA losses since the New York initial public offering (IPO).

With that record, Jumia has continues its journey towards financial resilience and sustained growth, reporting its lowest since its IPO in 2019.

The company’s relentless focus on strategic growth initiatives has yielded promising results, evident in the Q3 2023 earnings report.

Under the stewardship of Group CEO Francis Dufay, Jumia’s commitment to a transformative blueprint initiated in Q4 2022 has proven pivotal. Notably, the quarter showcased substantial advancements across key metrics.

Reduced Losses and Enhanced Value Proposition:

The resolute focus on core categories—Phones, Electronics, Home & Living, Fashion, and Beauty—has yielded tangible improvements. Jumia’s emphasis on tailoring offerings to meet customer needs in these key markets has notably enhanced repurchase rates among new customers.

Additionally, there’s a discernible uptick in the average order value (AOV) for physical goods, signaling an evolving customer engagement strategy that resonates with the market’s demands.

This strategic pivot, evident in the considerable 74% year-over-year reduction in Sales and Advertising expenses, amounting to $4.3 million, aligns with the company’s pursuit of creating a stronger value proposition.

Furthermore, the 67% year-over-year decrease in Adjusted EBITDA loss, reaching $14.9 million, stands as a testament to Jumia’s concerted efforts toward profitability.

GMV Growth and Core Business Focus:

The most significant highlight of Q3 2023, according to CEO Francis Dufay, is the encouraging growth in GMV of physical goods across five countries. This growth reflects a pivot towards more efficient economics and sustained growth, aligning with Jumia’s core business strategy.

Strategic Partnerships:

Dufay’s emphasis on partnerships, notably with Starlink, highlights Jumia’s intent to diversify its product range and supply offerings.

The collaboration aims to enhance Jumia’s assortment, catering to evolving consumer demands.

The imminent distribution of Starlink’s residential kits in Nigeria signifies a promising partnership that could shape Jumia’s future offerings and market positioning across Africa.

Operational Efficiency and Upcountry Expansion:

Jumia’s relentless pursuit of operational efficiency has been underscored by a remarkable achievement—a Fulfillment expense per order reaching $2.1, marking a significant 26% year-over-year reduction.

Notably, these efficiencies have been realized concurrently with the company’s strategic expansion into secondary cities across Africa, emphasizing the commitment to reach underserved regions.

Streamlined Operations and Fiscal Discipline:

The company’s steadfast commitment to operational streamlining and fiscal prudence has resulted in a leaner organizational structure.

A 43% year-over-year decrease in G&A expenditures, excluding SBC, totaling $15.9 million, is indicative of this leaner operational paradigm—a result of rightsizing efforts earlier in the year.

Jumia’s liquidity position, at $147.4 million, demonstrates effective cash management with a noteworthy decrease of $19.0 million, down by 71% year-over-year.

This disciplined approach underscores the company’s concerted focus on judicious resource allocation and financial stewardship.

Jumia ‘s Q3 2023 performance not only indicates improved financials but also reaffirms its commitment to sustainable growth strategies.

The company’s continued focus on core categories and operational efficiency positions it favorably for long-term success in the dynamic e-commerce landscape.

Loading

Advertisements
MTN ADS

Author

  • Techeconomy
    Techeconomy

    View all posts
0Shares
Tags: Francis DufayjumiaJumia group
Techeconomy

Techeconomy

Next Post
Aleph Express in Nigeria

Aleph launches its Proprietary MSMEs solution - Aleph Express - in Nigeria

Comments 1

  1. Pingback: Jumia Appoints Sunil Natraj as New Jumia Nigeria CEO - Tech | Business | Economy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

N6.7tr Subsidy: CBN Governor, FIRS Boss to Appear Before Lawmakers

3 years ago
SAMA Money

SAMA Money Acquires First Microfinance Agency to Improve Financial Inclusion in Mali

2 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.