Despite several cuts and tweaks to its business model and structure, it appears all is not still well with Jumia.

This is because, after two years of pressure and record losses, Jumia said it losses rose beyond forecast for the full year 2017

Jumia, Africa's largest eCommerce company said it made a net loss of N53.3 billion for the full financial year of 2017. This is a major negative and huge difference compared to N40.5 billion reported in 2016.

Full-year revenue for Jumia came in at EUR93.8 million compared to EUR89 million reported in 2016.

There are various sides to this result and the more we look at the company's summary result released by Rocket Internet, its parent company, the more we see more signs of worry for Jumia going forward.

Source: https://pageone.ng/2018/04/13/jumia-losses-parent-company/

Various structural changes have been applied to the business model of Jumia in the last three years. On August 30, 2016 Africa eCommerce Holding GmbH, the holding company of Jumia, was merged into Africa Internet Holding GmbH (formerly trading under Africa Internet Group).

In its usual flowery comment, Rocket Internet said in its official statement that:

In June 2016, all business models of Africa Internet Group were renamed under the Jumia brand.

It is now very clear that Rocket Internet plans to sell off the company via an IPO was a sound decision given the fact that after five years, there are no signs that Jumia would break-even before it caves-in.

Konga, Jumia's arch-rival has also witnessed its near-end before it was sold to Zinox Group for undisclosed amounts.

While Kinnevik and Naspers have not disclosed the terms of the transactions, there are feelers that the company was sold for a ridiculously low amount with up to 99% loss on equity.

I wonder how dem dey take make am

Sorry jumia no cry, I also suffered losses and heartbreaks I don move on

What's the cause of these losses?

Ovoko

No b who chop well dey buy something..
Huge loss which is obviously leading to job loss..

If you want to make money jumia, start selling important grasses from Brazil, or Ak47 or you help the good patriotic people of Nigeria to send the daura dullardihio back to his cows..

Jisos

With their mumu services and customer care. Where is Mr. Ondot self, that yamhead that is always on his way but never shows up.

One of the 'joys' of enterpreneurship.

53 million or 53 billion...
the company burn??

Buhari economy. What do you expect? Many companies are running at a loss too. Jumia is just one of them

Hmm... That's a huge loss but wait o even with their fake inflated discount them still no dey make am

Na dem sabi

Another reason to show how Buhari has transformed the economy

No be just buy and sell? They are clearly financially overgeared.......

Nigeria's business environment can be harsh sometimes.


MTN data bundles at the best prices you can get...get yours now! Check my profile for the "how?".

Eyah, it's well

booblacain:
What's the cause of these losses?

I'm confused

They don't sell anything

They just link buyers to sellers

So how did they lose?

But how comes. Could it be from expired goods?.Lord have mercy

DonPiiko:
Sorry jumia no cry, I also suffered losses and heartbreaks I don move on

how can the mod miss this picture

nairavsdollars:
Another reason to show how Buhari has transformed the economy

Lol

They should find out what is wrong. Cos i do shop alot from Jumia and have gotten better bargains than i would have in the open market, not to talk of risks in getting substandard prices.

My discouragement is the lack of pay on delivery even though my last refund was done in less than 24hrs.

I trust Jumia and wish them well.

and more to come dis yr because u guys are too greedy

Jumia's shabby business practices set it on the part of great loss.

jerflakes:


I'm confused

They don't sell anything

They just link buyers to sellers

So how did they lose?

what are u saying..Mr man stop confusing urself..hope u ve eaten today sha?

jerflakes:


I'm confused

They don't sell anything

They just link buyers to sellers

So how did they lose?

??

53billion loss? How much are they really worth then

Lexusgs430:
No be just buy and sell? They are clearly financially overgeared.......

...oshe accountant to bad, buh how does a coy making huge losses be compared to been financially over geared... Need an explanation bro.