12 Things You Didn’t Know About Africa’s First Startup Unicorn

By Peter Pedroncelli AFKI Original Published: August 10, 2017, 6:37 pm
Africa Internet Group

A Jumia motorcyclist delivering a product to a client in Lagos, Nigeria (image: business.lesechos.fr)

Rough year for the business

The year 2016 turned out to be a rough one for the business, with Jumia revenues falling by 41.7 percent to around $99.3 million, which the company said was due to a decrease in gross merchandise volume and its shift to a marketplace model. Tough economic conditions in two of its most important markets, Nigeria and Egypt, made a decline inevitable.

Sign up for the AFKInsider newsletter — the most compelling business news you need to know from Africa and the African diaspora, delivered straight to your inbox.

Tags: , , , , ,