Jumia Trims Operational Losses in Q4 2023, Yet Profitability Remains a Challenge 📉💼

Jumia Trims Operational Losses in Q4 2023, Yet Profitability Remains a Challenge 📉💼

#finance
#e-commerce
#delivery
#finance
#food
#Food
Despite slashing operating losses and implementing strategic changes, Jumia faces questions on profitability in Q4 2023. The company's shift includes shutting down Jumia Food, staff reductions, and a focus on higher-ticket items, showcasing impressive cost discipline under CEO Francis Dufay. 🌍🛒

Jumia, a prominent African e-commerce platform, reduced Q4 2023 operating losses to $4.5 million through strategic changes, including shutting down Jumia Food and focusing on higher-ticket items. Despite these efforts, profitability remains elusive as the company experienced a decline in quarterly active users. Jumia's cost discipline under CEO Francis Dufay is evident with reduced spending on advertising and improved cash utilization. While facing challenges like currency devaluation, the company sees growth potential in JumiaPay transactions, reaching $3 million in Q4 2023. 💰🚀


Read more on TechCabal

Top comments(0)

SEND
Home
Stories
Community
Podcasts