🛒Jumia is slowly scaling its e-commerce business towards profitability in Africa
The Draft is a weekly series that brings you the most important technology news across emerging markets, every weekend. Subscribe today. This week, Jumia announced its financial results for the second quarter ended June 30, 2022, which showed continued usage growth and accelerating monetization, but yet to scale the e-commerce
This week, Jumia announced its financial results for the second quarter ended June 30, 2022, which showed continued usage growth and accelerating monetization, but yet to scale the e-commerce business to profitability.
The report showed significant improvements in almost every performance metric that matters, according to Techloy analysis.
But while the e-commerce business continues to focus on scaling for profitability, it needs to accelerate its active customer base and revenue growth in order to fund the business and become more attractive to investors, especially as the venture funding crunch may likely continue through the coming year.
Now continue reading this week's edition of The Draft to learn about a London-based AI company hiring thousands of engineers across the world, the growth of the global foldable smartphone market, and the top funding deals across emerging markets.
To growth,
Loy
