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Monicah - 1 Jumia - 1 Francis Dufay - 1 Nqobile Dludla - 1 Kirsten Donovan - 1
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Africa Nairobi Kenya Rights JOHANNESBURG
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Technologies - 1 REUTERS - 1 Rights - 1 Jumia Technologies - 1 New York Stock Exchange - 1 Revenue - 1 Thomson - 1

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☆ African online retailer Jumia's Q3 losses narrow with further fall expected
  + stars: | 2023-11-15 | by ( ) www.reuters.com   time to read: +2 min
Workers are seen inside an Africa-focused tech startup Jumia Technologies, pickup station in downtown central business district in Nairobi, Kenya November 16, 2021. REUTERS/Monicah Mwangi/File Photo Acquire Licensing RightsJOHANNESBURG, Nov 15 (Reuters) - African e-commerce firm Jumia Technologies said on Wednesday that cost savings had helped it reduce third quarter losses by 67% from a year earlier, with a further sharp drop expected this year. It now expects an adjusted 2023 EBITDA loss of $80 million to $90 million compared to the previously communicated range of $90 million to $100 million. Quarterly active consumers fell 24.3% to 2.3 million, largely driven by deliberate decisions to focus on core categories and reduce consumer incentives. Inflation effects persisted in the period, affecting both consumers' spending power and sellers' ability to source goods from abroad, Jumia said.
Persons: Monicah, Jumia, Francis Dufay, Nqobile Dludla, Kirsten Donovan Organizations: Technologies, REUTERS, Rights, Jumia Technologies, New York Stock Exchange, Revenue, Thomson Locations: Africa, Nairobi, Kenya, Rights JOHANNESBURG
☆ African online retailer Jumia's Q4 losses narrow on cost savings
  + stars: | 2023-02-16 | by ( ) www.reuters.com   time to read: +1 min
JOHANNESBURG, Feb 16 (Reuters) - African e-commerce firm Jumia Technologies said on Thursday that cost savings had helped it reduce fourth quarter losses by 30% from a year earlier, with a further sharp drop expected this year. The group cut more than 900 jobs in the fourth quarter and also significantly reduced its presence in Dubai, relocating most of its remaining staff to its African offices. "We expect these headcount reductions to allow us to save over 30% in monthly staff costs starting from March 2023, as compared to the October 2022 staff cost baseline," Jumia said. It also significantly reduced its sales and advertising expenditure, by 41% year on year. Reporting by Nqobile Dludla; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.
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