With Jumia’s stock up 3,000%+ in the last year, and its losses persisting, two questions loom large in the minds of investors: What has made Jumia such a success, and can we expect the company to turn profitable anytime soon? TechCrunch caught up with co-CEO Jeremy Hodara to get his take on these issues, and how the company is moving forward masstamilan.
In the interview, he shared how the company is using technology to transform African markets. He explained how machine learning optimizes product delivery times, AI simplifies payments, and blockchain improves security. He also talked about how the company is partnering with local developers to make its products better suited to Africa’s unique needs.
He also touched on how the company is changing its monetization model, and how it plans to create more value for sellers on its platform in the future. He said the company plans to move away from monetization shortcuts that have benefited it in the past, such as increasing fees for third-party vendors. He said he wants to focus on added value that creates a stronger local supply of goods, which could help drive more sales for Jumia and third-party vendors alike myvuhub.
As co-CEO of Jumia Africa, Jeremy is responsible for the growth and development of the company’s pan-African business operations. He’s a seasoned business leader who has worked in both retail and technology and has been instrumental in helping Jumia become Africa’s leading e-commerce player. He believes that technology can bridge the digital divide in Africa and catalyze development teachertn.
His goals are to make Jumia Africa a more attractive platform for third-party vendors, and to build on its strengths as a marketplace, logistics service, and payment platform. He hopes to develop an integrated ecosystem that brings together both consumers and sellers, and has a unified brand experience that is unique and unmatched in the region.
As acting CEO of Jumia, Francis Dufay will oversee the company’s restructure, as well as its financial performance. He joined the company in 2014 and was previously the executive vice president of Africa pagalsongs.
He has led the company through a period of major transition, including the opening of its first physical offices in Africa and its acquisition of JumiaPay. His goals include “setting the path to profitability for Jumia,” he told TechCrunch in a recent interview, and he’s also focusing on bringing more African sellers onto the platform.
The board appointed him as acting CEO following the resignation of co-founders Jeremy Hodara and Sacha Poignonnec. The statement said the move was to allow the new leadership team to focus on building more robust fundamentals for Jumia’s e-commerce business yareel.
While the company remains a loss-making business, it has started to make progress on its path toward profitability. As it restructures its operations, it’s planning to reduce its operating losses by as much as 50%, which could be worth at least $100-120 million this year, according to Jumia’s financial statements.