Jumia, an online retailer based in Africa, reduced losses in the fourth quarter.
In the fourth quarter of 2021, Jumia Technologies, the first tech startup with an emphasis on Africa to be listed on the New York Stock Exchange, repo
In the fourth quarter of 2021, Jumia Technologies, the first tech startup with an emphasis on Africa to be listed on the New York Stock Exchange, reported an adjusted loss before interest, tax, depreciation, and amortisation of $49.2 million. It is engaged in a vigorous costsaving campaign that includes decreasing headcount, reducing offerings like groceries, and cutting back on delivery services unrelated to its ecommerce company. It anticipates a significant decrease in the yearly adjusted EBITDA loss from $207 million in 2022 to $100120 million in 2023.
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B2B Tech News | 1 months ago