BUSINESSNews

Jumia Expanding Food Delivery Business to Egypt


Jumia wants to deliver more food across Africa, one of its executives said in an interview. According to co-Chief Executive Officer Sacha Poignonnec, Jumia Food, the company’s food delivery arm, will expand to Egypt to fill a gap left by Uber Eats’ exit.

Food delivery makes up 20 per cent of overall transactions, and numbers are growing quickly, Poignonnec said, adding that it is “increasingly important” to them.

Jumia Food will fill the gap left by Uber Eats in May 2020 after two years of operation.

Despite covid-19 disruptions, Jumia completed 5 million food deliveries online in 2020.

Entry into the Egyptian food delivery market means that Jumia Food will now be available in all 11 African markets where its e-commerce business has a presence, except in South Africa.

The South African food delivery market is dominated by Mr D Food, owned by Naspers Ltd., and Uber Eats.

Jumia Technologies AG reported its fourth-quarter and full-year results the final week of February, which shows its operating loss shrank. Its Gross Merchandise Value(GMV) — the value of goods sold — increased.

The company’s revenue for Q4 was €41.8 million, up from €33.7 million reported in Q3. For the quarter, the company’s operating loss stood at €40 million.

For the whole of 2020, its operating loss stood at €149 million, down from €227.9 million in 2019.

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Source
Bloomberg

Alvin Wanjala

Alvin Wanjala has been writing about technology for over 2 years. He writes about different topics in the consumer tech space. He loves streaming music, programming, and gaming during downtimes.

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