Shalom,
Victoria from Techpoint here,
Here's what I've got for you today:
- Jumia streamlines: SA and Tunisia cut loose
- GenZ & Millennials rewrite career rules
- Chat smarter, not harder: WhatsApp's new features
Jumia streamlines: SA and Tunisia cut loose
Jumia has decided to shut down its operations in South Africa and Tunisia by the end of 2024 to focus on markets with more growth potential.
Why? After a detailed review by CEO Francis Dufay, it became clear that these two markets weren’t contributing much to the company’s overall success.
In 2023, Jumia’s South African branch, Zando, and its operations in Tunisia only accounted for 3.5% and 2.7% of total orders, respectively. Their gross merchandise value (GMV) was similarly low, and the numbers kept dropping in the first half of 2024.
With growth stagnating and competition increasing, Jumia decided it was best to exit these markets to improve efficiency.
CEO Francis Dufay acknowledged that this was a tough decision, but the company needs to focus on areas where it can see sustainable growth. Jumia plans to redirect its resources to its core markets like Nigeria, Kenya, Egypt, and Morocco, where the eCommerce scene is much stronger.
This decision is part of Jumia’s broader efforts to streamline operations and hit profitability. The eCommerce company has faced tough market conditions, from economic pressures to competition from local and global players. Jumia reported a 25% drop in revenue in Q2 2024 compared to the previous quarter, and its gross merchandise value also took a hit.
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Despite these challenges, Jumia remains hopeful about its future in Africa’s more promising markets. By concentrating on these regions and continuing to grow its marketplace, logistics network, and JumiaPay platform, the company is optimistic about getting back on track and becoming profitable.
GenZ & Millennials rewrite career rules
A new workplace report just dropped some interesting facts: even with clear career plans laid out, Millennials and Gen Zs aren’t staying at companies for long.
Despite employers putting in the effort to map out growth paths, these younger generations still want more — be it flexibility, purpose, or the excitement of exploring new opportunities. So, what's really stopping them from staying put? You’ll find out in a jiffy.
But let’s ride along: The whole conversation around job stability is shifting. Some industry leaders are even debating whether it’s better to encourage employees to stick with a company or plan strategic exits every 12 to 18 months.
Interestingly, the Nigerian Workplace Report by Intelpoint (Techpoint Africa’s research arm) found that 28.18% of the 2,600 respondents have stayed with their current employer for over three years. Here’s the kicker: 74.6% of them believe they have a clear career path, and 87% are under 40! So why are they still leaving?
The report concluded that sticking around longer is often tied to age — people over 40 are more likely to stay at a company for seven to twelve years or more, while younger workers seem less interested in that long-term commitment. Curious about why younger generations are moving so fast? Check out the full report here and dive into the insights in Oluwanifemi’s latest story!
Chat smarter, not harder: WhatsApp's new features
WhatsApp, the Meta-owned messaging app with over 2 billion monthly users, is rolling out some new features in October 2024 to improve the user experience.
These updates, for both Android and iOS users, are aimed at making communication easier, giving you more ways to customise chats, and even boosting security with a new image verification tool.
One of the standout features is a “Search on web” option that helps users verify the authenticity of images, especially those that get forwarded a lot. Found under the three-dot menu when viewing an image, this tool lets you run a web search to check if an image is real or fake — a great addition in the fight against misinformation.
For iOS users, WhatsApp is also revamping the chat widget to offer quicker access to your conversations right from your home screen. The new widget is more interactive, and you can now view up to four chats at once or focus on just one. It’s perfect for those who want to keep their important conversations just a tap away.
If you love customising your chats, you’re in for a treat. WhatsApp is adding over 20 new chat themes, giving you more colour options to make your chats look just the way you want. You can personalise individual chats or apply the same theme across multiple conversations — it's all about making the app feel more like your own.
Lastly, WhatsApp is simplifying how you connect with people through calls. A new call link feature lets you create call links directly from your chat window; no need to go into the Calls tab anymore. This makes starting video or voice calls quicker and easier, whether you're catching up with one person or a group.
All these features are still in beta but should be available soon!
In case you missed them
- Kenya’s Octavia Carbon is on a mission to save the earth with $5 million in seed funding.
- Your startup is not built to last, but you can fix that now
- South African retail bank Capitec restricts customers from sending funds to crypto exchanges
What I'm watching
- JRE: "People Of This Tribe Violate All Laws Of Physics!"
- The Man Who (Accidentally) Solved The Meaning Of Life
Opportunities
- Spiralyse is hiring a frontend developer. Apply here.
- An organisation is hiring a virtual assistant. Apply here.
- Interswitch is looking for a Data Scientist and Business Developer Manager in Lagos. Apply here.
- Flutterwave is hiring for several roles in Nigeria, Malawi, Egypt, and South Africa. Apply here.
- Paystack is hiring for several roles in Nigeria and Ghana. Apply here.
- Moniepoint is recruiting for several roles in Lagos and remotely. Apply here.
- Briter Bridges is hiring for several roles in Nigeria, Kenya, and London. Apply here.
- Kuda is looking for a Product Manager. Apply here.
- Quidax is hiring a Head of Growth and Partnerships. Apply here.
- Kuda is hiring a Senior IOS Engineer. Apply here.
- Meta is hiring software engineers here.
- Follow Techpoint Africa's WhatsApp channel to stay on top of the latest trends and news in the African tech space here.
Have a terrific Thursday!
Victoria Fakiya for Techpoint Africa.