The eCommerce business is booming and companies like Jumia are making lots of profit. Presently only operating in 6 markets, Nigeria, Egypt, Morocco, Ivory Coast, Ghana, and Kenya, Jumia recently exited Rwanda, Tanzania, and Cameroon to focus on nations that could aid their long term development as a company.
Jumia, in its financial results for 2019, records that it now has 6.1 million active consumers as of December 2019, which is a 54% increase compared to 4 million in December 2018. Orders also reached 8.3 million in Q4 2019, up 49% from Q4 2018. For the entire 2019, orders increased by 85% to 26.5 million in 2019, compared to 14.4 million in 2018.
In Q4 2019, Jumia’s gross merchandise volume (GMV) reduced by 3.3% to €301 million from €311 million in 2018. However, for the entire 2019, GMV amounted to €1.1 billion, a 33% rise from €828.2 million 2 years ago.