Between April and June 2022, around 60% of its deliveries of physical goods were made within a day, according to Jumia’s latest quarterly report released this week. In the first three months of this financial year, the figure stood at 57%. Jumia delivered 10.3 million orders in the second quarter (April-June) of 2022, 35% more than the same period last year. Along with the first quarter’s figure, up to five million more deliveries were made in the first half of this year than during the same period of 2021. International business in 2022 has been influenced by Russia’s war in Ukraine since February, which has stifled the flow of raw materials and finished goods. Inflation has spiked, too, leaving some African countries like Ghana so hard-hit that they resorted to an IMF bailout. For Sacha Poignonnec, co-CEO of Jumia, recording double-digit year-on-year growth on gross merchandise value and orders in this “volatile macro context” validates the company’s decision to “focus on relevant everyday products, competitive prices, and consumer experience.” April-to-June saw Jumia record its fastest growth rates in marketplace revenue and gross profit in the past seven and five quarters, respectively. This suggests the company has leaned into its post-pandemic momentum, generated in key market like Nigeria and Egypt.
SOURCE: QUARTZ AFRICA