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Jumia Sees Growth in First Quarter 2022 Results

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Jumia Technologies AG (“Jumia” or the “Company”) announced its financial results for the first quarter ended March 31, 2022.

“We kicked off 2022 with very strong growth momentum, closing the first quarter with the highest GMV and Order growth rates of the past 9 quarters, up 27% and 40% year-over-year respectively.

“In parallel with accelerating usage growth, we continued driving platform monetization, with revenue growing by 44% year- over-year, which was also a 9-quarter high,” commented Jeremy Hodara and Sacha Poignonnec, Co-Chief Executive Officers of Jumia.

“We remain focused on taking the business forward on our path to profitability, driving faster usage growth with improved levels of marketing efficiency. Sales & Advertising expense per Order and as % of GMV decreased sequentially, both reaching their lowest levels in the past 4 quarters, at $2.0 per Order and 7.5% of GMV respectively. We are executing on our strategy with discipline and consistency. Our focus continues to be on making Jumia a compelling destination for the everyday needs of African consumers and a growth engine for sellers and businesses in Africa and beyond.”

First Quarter 2022- Business Highlights

  1. Growth Acceleration Initiatives

In the first quarter of 2022, we continued executing on our growth acceleration strategy building upon the momentum of the second half of 2021, continuing to scale the business towards profitability.

The key levers of our growth acceleration plan remain consistent:

Sustained marketing investments on a multi-channel basis, to drive consumer awareness, adoption and retention.

Enhanced assortment relevance with a focus on everyday product categories.

Improved pricing and shipping policy.

Improved customer experience and convenience through platform enhancements.

We have outlined below relevant developments in the first quarter of 2022 with respect to each one of these levers.

Marketing

  • Brand awareness and consideration are core pillars of our marketing strategy and key to foster customer trust. We were pleased to see Jumia ranked #6 in the 2021 Most Influential Brands survey in Egypt released by Ipsos in March 2022. The ‘Most Influential Brands Survey’ is a global Ipsos initiative, covering 14 markets and close to 800 brands worldwide.

2021 was the second edition of the survey in Egypt with 118 brands assessed across 14 categories. In 2021, Jumia progressed from the 7th to the 6th position of the ranking, maintaining its leadership within the digital and e-commerce category of the survey.

Assortment, pricing and shipping

As part of our efforts to become the digital destination in Africa for everyday needs, we are expanding our assortment in the everyday categories and further enhancing our partnerships with sellers and brands.

Between December 31, 2021 and March 31, 2022, we added almost one million SKUs in the FMCG category, the highest number of SKU adds in this category in the past 8 quarters. We also established pan-African partnerships with each of Coca-Cola and Danone across both our e-commerce and food delivery platforms.

Price competitiveness is a key component of the Jumia value proposition for consumers, particularly in a more challenging macro environment that drives increased consumer price sensitivity. We are upgrading our price benchmarking tool into an automated system covering the full product assortment of Jumia, incorporating data from both online and offline channel checks.

The new system leverages machine learning algorithms to match images and product features enhancing the speed and accuracy of screening and matching. It also allows for real-time price adjustment with dedicated modules for margin optimization.

We are rolling out a free shipping program in select countries allowing consumers living in the main cities to benefit from next-day free shipping on Jumia Express items and basket sizes exceeding a minimum threshold. Jumia Express is an end-to-end logistics service provided to sellers where items are stored in our warehouse and picked and packed by Jumia.

We expect the free shipping initiative to drive consumer adoption and overall usage growth. While we will be foregoing consumer shipping fees – booked under Fulfillment revenue – we expect to better monetize the Jumia Express service – booked under Value Added Service revenue – as we expect sellers to benefit from sales uplift as a result of the free shipping roll-out.

Technology: Platform enhancements

We continue to invest in our technology backbone and front-end projects in particular, to make our platforms even more easy-to-use and engaging.

During the first quarter of 2022, we continued working on an overhaul of our homepage and product pages to simplify navigation and product discovery. Key developments included creating stronger hierarchy of content on the homepage and more informative product pages with larger pictures and additional information such as available stock quantity for flash sales and promotions.

We intend to further enhance user experience with incremental improvements to our product search algorithms and filtering modules, while increasing personalization throughout the stages of the user journey.

  1. JUMIA PAY UPDATE

In April 2022, JumiaPay was granted the Payment Service Solution Provider (“PSSP”) license by the Central Bank of Nigeria, which allows us to process payments on behalf of third-party businesses in Nigeria.

In parallel, we continued expanding the range of everyday digital and financial services available to consumers on the JumiaPay app.

In Nigeria, JumiaPay is working with the CGAP, Consultative Group to Assist the Poor, which is a global partnership of more than 30 leading development organizations, focused on financial inclusion to improve the lives of lower income populations.

As part of this partnership, we are piloting an e-doctor service on the JumiaPay app in collaboration with a third-party service provider, “Meeting Doctors”. The objective of this service is to help workers, sellers and consumers in general access doctors remotely for a monthly subscription fee of around $1. The experiment will help validate the value delivered to our customers and workers and identify a sustainable model to achieve this.

  1. MONETIZATION UPDATE

Logistics services to third parties

  • We are making significant progress on the roll-out of our logistics services to third parties. Packages shipped during the first quarter of 2022 reached a new record of 3.5 million, on behalf of over 1,250 clients, an increase of more than 200 clients compared to the fourth quarter of 2021.

Advertising

Our advertising activity experienced strong momentum during the first quarter of 2022, with 484 advertising campaigns, up 55% year-over-year, on behalf of almost 9,000 advertising clients, a 24% year-over-year increase. Advertising clients during the quarter included high profile brand partners such as Unilever, L’Oréal, Adidas, Danone, Xiaomi, Coca-Cola, Krispy Kreme, Burger King and many more.

We are constantly improving the efficiency of our campaigns to enhance the returns on investment for our advertising clients, through better audience targeting, enhanced personalization and campaign management tools. As a result, advertising campaign performance, measured by the click-through rate on our ads, increased by 56% year-over-year in the first quarter of 2022, supporting sales and return on ad spend for our advertisers.

  1. IMPACT

Earlier in May 2022, we launched our inaugural ESG report highlighting our sustainability strategy and key themes in alignment with the Sustainability Accounting Standards Board (“SASB”) and the United Nations Sustainable Development Goals (“UN SDGs”). The first edition of this report has been designed as an overview of our sustainability strategy with a mapping of our current sustainability practices.

Our sustainability strategy is fully aligned with our corporate mission and has three main objectives:

–  Living our mission: Our mission to “leverage technology to improve everyday lives” holds sustainability at its core. As we execute on this mission, we create jobs, reduce inequality and positively impact our communities.

–  Embedding sustainability in our business operations: We aim to make business decisions and conduct our operations with sustainability guidelines and objectives in mind.

–  Amplifying our impact through our ecosystem: Our impact is further amplified as we expand our sustainability practices to our ecosystem of partners and stakeholders.

Our sustainability practices today can be grouped under five material themes outlined below. These themes have been developed in line with our understanding of how our business impacts our key stakeholder groups: consumers, partners, employees, investors and our communities.

Environment

  1. Minimizing environmental impact through the reduction of carbon emissions, waste and offering customers pre-owned and refurbished goods.

Social

Providing convenience, accessibility and affordability to consumers.

Empowering sellers, partners, and communities by lowering the barriers to entry, providing training, access to funding and participating in initiatives to drive economic and social development.

Building an engaged, inclusive, and diverse workforce.

Governance

  1. Operating with strong governance and ethical standards.

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E-Business

Kaspersky Introduces Cyber Pathways to Support Career Development in Cybersecurity

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Kaspersky’s new platform, ‘Cyber Pathways’, offers a comprehensive look into the essential cybersecurity roles, skills, and tools, to empower professionals to chart their career paths with confidence.

Featuring an interactive guidance test and personalised learning recommendations, the resource helps users to discover their ideal cybersecurity role. This platform is equally useful for newcomers to cybersecurity, IT generalists, seasoned experts and corporate organisations.

According to a global Kaspersky study, a staggering 41% of companies report that their cybersecurity teams are significantly understaffed, primarily due to a shortage of qualified professionals capable of handling complex challenges.

This talent gap is further echoed by the fact that 49% of cybersecurity experts see a pressing need for more practical training opportunities to enhance their skills and venture into new, more demanding areas.

Recognising the crucial role of expertise in closing this gap, Kaspersky introduces its new digital project ‘Cyber Pathways’, a comprehensive interactive platform designed to empower cybersecurity professionals at all levels.

‘Cyber Pathways’ is a digital platform that offers an in-depth overview of key cybersecurity spheres and spotlights the vital hard and soft skills essential for success in each area.

It highlights core responsibilities and introduces key tools and solutions utilised in these roles. It also offers practically oriented educational courses tailored to expand knowledge and sharpen skills in a chosen cybersecurity field.

Key cybersecurity spheres are reviewed in the ‘Kaspersky Cyber Heroes’ part, each embodying a vital area of cybersecurity: threat intelligence, malware analysis, security operations, security assessment, network security, and information security research.

These heroes are designed to help professionals understand the unique characteristics of each role and identify the key competencies required to succeed in them.

Career guidance test in an engaging and interactive form enables professionals to assess their current expertise level and identify the cybersecurity role that best matches their strengths and aspirations.

The platform offers three tailored test options, catering to different levels of expertise: for beginners in cybersecurity, for advanced professionals, and for organisations.

Building on nearly three decades of unmatched experience and extensive historical data, Kaspersky has developed a unique expertise that not only protects against the most dangerous cyber threats and guarantees top-tier product quality, but also empowers cybersecurity professionals worldwide to enhance their knowledge and stay ahead of cybercriminals.

Rooted in this expertise, the educational recommendations provided on this platform combine highly practical, hands-on programmes from Kaspersky Cybersecurity Training and Kaspersky Academy.

Designed to equip professionals with the critical skills needed to combat sophisticated threats, these initiatives ensure that their skills remain sharp, current, and ready for any challenge.

Additionally, these recommendations include valuable resources for corporate organisations, featuring online tools from Kaspersky Security Awareness that promote cybersecurity-conscious behaviours within teams and foster a resilient security culture.


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FCCPC Sets Deadline for Digital Lending Regulatory Compliance

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Federal Competition and Consumer Protection Commission (FCCPC) has announced Monday, January 5, 2026, as the final deadline for full compliance with the Digital, Electronic, Online, and Non-Traditional Consumer Lending Regulations, 2025.

FCCPC Sets Deadline for Digital Lending Regulatory Compliance

In a statement signed by Ondaje Ijagwu, director of Corporate Affairs, the Commission said that the Regulations took effect on July 21, 2025, pursuant to the Federal Competition and Consumer Protection Act (FCCPA) 2018.

According to the statement, the new framework is designed to promote fairness, transparency, and accountability within Nigeria’s expanding digital lending ecosystem.

To facilitate compliance, the Commission has also released an accompanying instrument, the Guidelines on the Digital, Electronic, Online, and Non-Traditional Consumer Lending Regulations, 2025, issued under Sections 17 and 163 of the FCCPA.

“This document provides practical direction for lenders and intermediaries, explains the documentation required, and introduces updated Forms 1 and 3 based on feedback received from stakeholders,” the statement noted.

The FCCPC added that applicants with pending submissions may supplement their filings with any additional information required under the new Guidelines without waiting for formal requests.

It assured them that applications would continue to be processed promptly and transparently.

Speaking on the compliance timeline, Mr Tunji Bello, executive vice chairman of the FCCPC, underscored the importance of adhering to the January 5 deadline.

“Full compliance is not only a legal requirement but an important step in protecting consumers and ensuring that the sector continues to grow in a fair and responsible manner,” Bello said. “Operators have had ample time to adjust to the Regulations and the additional guidance now provided. We expect all obligations to be met before the deadline.”

The Commission emphasised that all affected operators, including digital lending platforms, service partners, and intermediaries, must complete their compliance obligations before the stated date.

It warned that enforcement actions will commence immediately after the deadline, including restricting non-compliant entities from operating, directing partners or platforms to cease dealings with them, and imposing other sanctions permitted under the law.

Copies of the Guidelines, Forms, and Frequently Asked Questions (FAQs) are available on the FCCPC websit: www.fccpc.gov.ng, as well as at the Commission’s offices nationwide.


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NITDA DG Tasks Youths to Drive Africa’s Digital Transformation

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Kashifu Inuwa, CCIE, Director General of the National Information Technology Development Agency (NITDA), has urged Nigerian youth to take the lead in driving Africa’s digital transformation, emphasising that the nation’s young population holds the key to a prosperous and inclusive future.

Delivering his opening remarks at the three-day Digital Nigeria International Conference and Exhibition 2025 at the Bola Ahmed Tinubu International Conference Centre in Abuja, Inuwa extended heartfelt appreciation to the Vice President of the Federal Republic of Nigeria for his presence, describing it as a powerful demonstration that this administration cares deeply about our youth.

The conference provides a dynamic platform for ecosystem stakeholders to showcase their work and explore emerging trends aimed at transforming the nation and continent’s digital future.

Organised by NITDA, the Digital Nigeria Conference serves as a platform that bridges government and industry, fostering collaboration between policymakers, innovators, and private-sector leaders. It aims to harmonise regulatory frameworks, promote public–private partnerships, and drive the effective implementation of Nigeria’s national digital strategies for inclusive and sustainable growth.

Inuwa noted that the conference’s theme, Innovation for a Sustainable Digital Future: Accelerating Growth, Inclusion, and Global Competitiveness, aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, particularly its focus on economic diversification through digitalisation, industrialisation and innovation.

Dr Bosun Tijani, the Minister of Communications, Innovation and Digital Economy, also speaking at the event reiterated the Federal Government’s commitment to building a sustainable, inclusive, and globally competitive digital economy, calling on stakeholders across sectors to work together to achieve Nigeria’s digital transformation goals.

Dr Tijani described the annual gathering as more than a conventional technology conference. According to him, Digital Nigeria serves as a national platform for dialogue, collaboration, and actionable strategies that will shape the country’s future in the digital era.

“It is with great pleasure that I welcome you all to Digital Nigeria 2025, something I consider to be a dialogue, but also collaboration and action towards building a sustainable, inclusive, and globally competitive digital economy for our nation. This event reminds us of what digital truly means for our past as a people, our present reality, and the future we are striving to build,” he mentioned.

Dr Tijani took the audience on a reflective journey through Nigeria’s digital history, noting that the liberalisation of the telecommunications industry in 1999 was a bold, transformative decision that changed the trajectory of the nation’s economy.

“That decision marked the beginning of a new economy built on ideas and innovation. The introduction of mobile connectivity reshaped how Nigerians live, work, and connect, fuelling a digital revolution that continues to expand opportunities for millions,” the Minister explained.

He emphasised that the ripple effect of that single reform continues to be felt across sectors and further noted that the digital economy now contributes about 18 percent to Nigeria’s Gross Domestic Product (GDP), a clear demonstration of the sector’s growing importance as a driver of national growth and economic diversification.

He also highlighted Nigeria’s global leadership in financial technology (fintech) innovation, citing the country’s advanced digital payment systems and thriving startup ecosystem.

“Today, Nigeria boasts one of the most efficient and responsive payment systems in the world. Transactions that take hours or even days elsewhere are completed instantly here. This innovation has produced five of Africa’s nine technology unicorns, companies each valued at over a billion dollars,” Tijani stated.

Senator Kashim Shettima, the Nigerian Vice President, in his remarks stated that the country is on the cusp of a historic transformation as the government advances toward passing the National Digital Economy and E-Governance Bill into law.

He described the bill as a cornerstone of the nation’s ambition to build a $1 trillion economy powered by digital innovation. Emphasizing its significance, he noted that the bill represents more than legislative reform—it is “a strategic leap toward embedding technology into the fabric of governance, economic planning, and national development.”

Drawing a compelling parallel with Nigeria’s cashless policy, which catalysed the fintech revolution, the Vice President said the anticipated impact of the new bill would ignite a govtech revolution.

“Just as the cashless policy unlocked the fintech revolution, this new bill will unlock the govtech revolution—an era of smarter governance, greater transparency, and inclusive service delivery,” he declared.

He explained that this new era would be defined by smarter governance, greater transparency, and inclusive service delivery, all driven by digital tools and infrastructure. He stressed that the bill is part of a broader national strategy to position Nigeria as a global leader in digital innovation, with the potential to transform every sector of society.

He highlighted that Nigeria, with over 220 million people and an average age of 18, stands at a critical crossroads, one that could either unleash unprecedented prosperity or deepen socio-economic challenges if the nation fails to harness the creativity of its youth.

“If we harness the energy, the creativity and talent of our youth, we are not just going to power Nigeria, but we can power the entire Africa into a new era of prosperity. But if we fail to do that, if we fail to skill our youth, if we fail to provide a platform for them to create value, we are stunting the most valuable asset we have as a nation,” he noted.

The NITDA DG revealed that the 2025 edition of the conference has attracted over 4,800 participants from 12 countries and 25 Nigerian states, making it both a national and international gathering of innovators, policymakers, and investors.

He said, “This year’s event features 12 keynote sessions, 23 panel discussions, five workshops, and two expert masterclasses across five thematic tracks.”


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