Jumia’s 2024 revenue declined by 10% to $167.5 million as the e-commerce company continued its cost-cutting measures. The company’s operating loss fell by 10% year-on-year to $66 million, reflecting improved operational efficiency.
In 2023, Jumia exited the South African and Tunisian markets to concentrate on larger economies such as Nigeria, Egypt, and Morocco.
“We believe it’s the right decision. It enables us to refocus our resources on the other nine markets, where we see more promising trends in terms of scale and profitability,” CEO Francis Dufay said at the time.
Despite these exits, annual active customers declined by only 5%, from 5.7 million in 2023 to 5.4 million in 2024. Meanwhile, gross merchandise value (GMV) fell by 4% to $720.6 million, or 28% in constant currency, largely due to currency devaluations and a reduction in corporate sales in Egypt.
However, the number of orders grew by 6% to 22.7 million, with upcountry regions accounting for 56% of total orders in Q4 2024, up from 49% in Q4 2023.
In January 2025, Jumia East Africa’s Regional CEO, Vinod Goel, noted strong growth outside Nairobi, emphasising that the company offers basic items at lower prices than physical stores.
JumiaPay transactions also increased by 20% year-on-year, reaching 10.1 million, while total payment volume (TPV) rose slightly to $195.4 million.
“Ongoing efforts to streamline the user experience and the continued rollout of JumiaPay on delivery to increase cashless orders have positioned JumiaPay as an enabler of the company’s e-commerce platform,” Jumia stated.
For 2025, Jumia forecasts GMV growth of between 10% and 15%, projecting a figure between $795 million and $830 million.
“Our priorities for the year are to build on this momentum by driving top-line growth and improving operational efficiencies. We plan to double down on expansion outside the main urban centres, expand our product assortment with competitive pricing, and strengthen relationships with international sellers. To improve our path to profitability, we will continue to enforce cost discipline and enhance operational and marketing efficiency,” Dufay said.
