Browsing: Jumia

Thousands of small businesses across Africa are set to gain greater access to online customers, logistics services and digital commerce tools after the International Finance Corporation announced a US$25 million equity investment in Jumia Technologies AG.

The International Finance Corporation’s US$25 million equity investment in Jumia Technologies AG is more than a financing deal for an e-commerce company. It represents a bet on digital commerce infrastructure as a tool for connecting African small businesses with larger markets, while strengthening logistics, distribution and employment networks around online trade.

Jumia currently operates in eight African countries, connecting more than 60,000 sellers to customers through its marketplace, supported by a logistics network and digital payment gateways.

African e-commerce company Jumia has secured $50 million in fresh equity from investors led by the World Bank’s International Finance Corporation, giving the loss-making retailer additional financial firepower as it pushes towards its first profitable year.