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Jumia is back, growing total sales and orders in Q1 2024
Jumia's orders and GMV increased despite a reduction in quarterly active customers, according to its earnings report for Q1 2024.
Jumia’s revenue and gross merchandise volume showed growth despite a decrease in quarterly active customers, according to its Q1 2024 report. For a year and a half, very few people outside believed that we would be able to get Jumia to grow again with that level of cuts on marketing, staff, and everything. The company emphasized that 79% of its liquidity was denominated in USD, providing protection against fluctuations in local currency valuations (it incurred a $5.9 million cash loss due to currency translation related to devaluations in Egypt and Nigeria, two of its largest markets, during the quarter).
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