Jumia has announced financial results for its fourth quarter ended December 31, 2017 and for the full year 2017, recording growth in its logistics platforms as a result of recent strategies deployed to further develop the platform and cut down on waste.
The leading online eCommerce ecosystem in Africa, grew GMV by 64,5% to 197,9 MEUR (+113% in constant currency) in the fourth quarter of 2017, compared with 120,2 MEUR in fourth quarter 2016. Jumia marketplace platforms significantly scaled the number of orders with a YoY growth of +94% in Q4 2017.
The Group saw GMV increase by 41,8 % year over year from 357,5 MEUR in 2016 to 507 MEUR in 2017 (+79% in constant currency), mainly driven by improved macro-economic conditions, as well as a stronger relevance of the marketplace, notably with a significant increase in the number of active merchants as well as products and services available.
Jumia is increasingly addressing daily needs of consumers across its markets, resulting in a strong increase in the number of orders and growth of customer base.
Sacha Poignonnec and Jeremy Hodara, Jumia co-CEOs commented: “We made great progress in 2017 with significant growth of the business, driven by technological innovations and improved relevance of the offering of goods and services. This growth is demonstrating the robust momentum in our core businesses and markets, and the increased adoption of online services by African consumers. We are also seeing good results from our strategy to further develop our logistics platform and our payment platform. Our customers continue to benefit from increasing access to great services, quality products, improved customer experience and the tremendous convenience of being able to shop online”.
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