Jumia Technologies (JMIA) Investor presentation summary

Market opportunity and macro trends

• Africa's e-commerce market is rapidly expanding, with retail e-commerce sales projected to grow from $12bn in 2019 to $40bn by 2029, driven by the world's fastest-growing population and increasing internet penetration.

• Structural headroom remains significant, as e-commerce penetration in Jumia's markets is only 2%, far below global averages.

• Macro tailwinds include strong population growth, rising GDP per capita, expanding internet access, and a growing tech-savvy youth demographic.

• Advancing fintech, merchant digitization, and improving logistics infrastructure are enabling broader e-commerce adoption.

Business model and competitive positioning

• Operates a scalable, asset-light, pan-African platform focused on value-for-money for lower-middle-class consumers.

• Present in 9 countries, with a market cap of $1.3bn as of November 2025, and over 13 years of execution experience.

• Differentiates through deep local know-how, a dense logistics network, and a trusted brand, solving Africa-specific challenges such as fragmented markets and payment digitization.

• Combines global reach (notably China sourcing) with local merchant empowerment, offering a broad, affordable assortment.

Operational turnaround and financial discipline

• Shifted from a growth-first to a disciplined, sustainable growth strategy, exiting unprofitable verticals and markets, and focusing on core e-commerce categories.

• Achieved significant cost reductions: fulfillment expense per order fell from $3.5 in 2022 to $2.0 in 2025, and cash burn dropped from $285m in 2022 to $56m in 2025.

• Improved contribution margin per order and reduced G&A and S&A expenses as a percentage of revenue.

• Operational efficiencies and a leaner organization have led to a clear path to profitability, with full-year profitability targeted by 2027.