Jumia Technologies AG

Who owns Jumia Technologies?
Jumia Technologies is publicly owned. Its shares trade on the NYSE under the ticker JMIA, with institutional investors holding the largest positions. No single shareholder controls the company.

Is Jumia a public company?
Yes. Jumia Technologies AG listed on the New York Stock Exchange in April 2019, the first major African tech company to list on a major global exchange.

Where is Jumia Technologies headquartered?
The company is legally incorporated in Berlin, Germany, while its operational headquarters are in Lagos, Nigeria. It operates marketplace platforms across approximately nine African countries.

How much revenue does Jumia make?
Jumia reported $188.9 million in revenue for fiscal year 2025. Q2 2026 revenue was $52.0 million, up 14% year over year, and GMV was $216.3 million, up 20%.

Is Jumia profitable?
Not yet. The company has narrowed its adjusted EBITDA loss to $8.7 million in Q2 2026, down 36% year over year, and targets adjusted EBITDA breakeven in Q4 2026 and profitability in 2027.

Who is the CEO of Jumia?
Francis Dufay has served as CEO since 2022, succeeding co-founder Sacha Poignonnec. Dufay previously ran Jumia's Ivory Coast operations and has led the company's consolidation toward profitability.

Jumia was founded in 2012 in Lagos, Nigeria, by Jeremy Hodara, Sacha Poignonnec, Tunde Kehinde and Raphael Kofi Afaedor. The venture emerged from Rocket Internet's African startup program, initially organized under Africa Internet Holding, with early backing from MTN, Millicom and other investors. The founders chose Nigeria deliberately: Africa's largest population and consumer market, with almost no existing e-commerce infrastructure.

The company expanded aggressively across the continent through the mid-2010s, at one point operating in more than a dozen countries. Its model bundled marketplace, first-party retail, logistics and payments into a single platform, funded by successive venture rounds that made it Africa's first unicorn.

Jumia Technologies AG listed on the New York Stock Exchange in April 2019 at $14.50 per share, the first major African tech IPO on a global exchange. The stock initially soared before entering a long decline. A 2020 Citron Research report alleging inflated pre-IPO metrics hit the shares and prompted corrective disclosures. Through the following years, operating losses accumulated into the hundreds of millions of dollars.

The turnaround began with consolidation. The company exited marginal markets including Cameroon, Rwanda, Tanzania, South Africa and Tunisia, concentrating on roughly nine core countries. Francis Dufay became CEO in 2022 and refocused the business on unit economics: reducing fulfillment and administrative costs, growing third-party marketplace share over capital-intensive first-party retail, and pushing advertising and value-added services revenue.

The strategy showed results. Revenue reached $188.9 million in FY2025. Q2 2026 revenue of $52.0 million was up 14% year over year, GMV of $216.3 million was up 20%, gross profit rose 28% to $30.7 million, and the adjusted EBITDA loss narrowed 36% to $8.7 million. The August 2026 IFC-anchored $50 million raise extended the runway toward the company's stated Q4 2026 breakeven and 2027 profitability goals.

Jumia's social impact case centers on economic inclusion: bringing formal e-commerce, digital payments and seller tools to markets with limited retail infrastructure. The company reports on sustainability through its investor disclosures rather than a standalone ESG framework typical of larger companies.

The IFC's 2026 investment came with development mandates attached, reflecting the company's role in formalizing commerce and expanding digital access. Labor practices across its logistics network, which relies heavily on contract and partner delivery workers, follow the informal norms of its operating markets.

Citron Research (2020). A short-seller report accused Jumia of inflating order and customer metrics before its IPO. The company disputed the report but corrected some disclosures, and the episode damaged investor trust and the share price for years.

Market exits. Withdrawals from South Africa, Tunisia, Tanzania and other countries drew criticism that the "Amazon of Africa" was shrinking rather than fulfilling its continental ambitions. Management framed the exits as a focus strategy necessary to reach profitability.

Regulatory complexity. Operating across multiple African jurisdictions exposes the company to shifting e-commerce, payments, tax and data regulations, including evolving digital services taxes and local content rules.