On Thursday 15 February 2024, Jumia stocks went up, closing at $4.56 per share. A positive 41.18% jump since the end of last year, which the biggest e-commerce brand in Africa has been aiming for a long time.
This comes after the E-commerce brand, Jumia, shared its Q4 financial documents with its shareholders, and from what we can see, they are happy with what they saw. Which spiked the massive buy order that shot the shares up to 41.18% closing at $4.56.
According to the charts, in Q4 2023, Jumia ended with a decline in revenue and active customers in comparison with the same time in 2022.
That’s after some drastic changes by the company, including shutting down Jumia Food and firing or redistributing the staff to other branches of Jumia, as the branch of the company remained unprofitable until closure.
Yet, Jumia has managed to reduce its Q4 2023 losses to the lowest point in years. However, the E-commerce brand is focusing on creating a leaner and more focused company that is more agile than ever.
Despite inflation and currency devaluation in some of its markets, such as Nigeria and Egypt, Jumia is aiming for profitability in 2024. According to CEO Dufay, the stability and eventual growth of JUmia is in sight and we shall see it soon.