Jumia Technologies Eyes Free Shipping, Logistics Service to Boost Income

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Jumia, which became the first Africa-focused tech startup on the New York Stock Exchange when it listed there in 2019, offers an online market place for vendors and food sellers, as well as associated services. Its adjusted loss before interest, tax, depreciation and amortisation (EBITDA) widened to $196.7 million last year from $136.3 million in the prior year.

That could widen further to $200-220 million this year, the company said in its earnings report, as it focuses on ramping up growth. It has not said when it expects to make a profit. Annual active consumers increased to 8.0 million last year, a near 17% jump from the previous period, the company said, while total orders increased by just over a fifth.

SourceUS News
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