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Jumia Revives Growth in Q1 2024: Revenue Up 19% Despite Drop in Active Customers

Jumia Revives Growth in Q1 2024: Revenue Up 19% Despite Drop in Active Customers

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Jumia bounces back with a remarkable surge in revenue and gross merchandise volume (GMV) in Q1 2024, defying market expectations despite a decrease in quarterly active customers. Find out how the African e-commerce giant is repositioning itself for success in the competitive market landscape.

Jumia, Africa's leading e-commerce platform, reveals impressive Q1 2024 results, with revenue soaring by 19% and GMV surging by 5% year-over-year, signaling a resurgence in growth momentum 📈. Despite a dip in quarterly active customers, strategic cost-cutting measures have led to a higher-quality customer base and increased repurchase rates 💼. Jumia's disciplined expense management and streamlined logistics network have significantly reduced cash burn, paving the way for improved gross margins and a clearer path to profitability 💰.


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