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