Jumia, founded in 2012, is an e-commerce platform connecting sellers and buyers of various products and services across Africa.
In April 2019, Jumia listed on the New York Stock Exchange (NYSE) and became the continent’s first tech Unicorn. Despite its quick and stunning rise to fame Jumia’s stock suffered a spectacular decline in May 2019. By the end of 2019, Jumia had exited three of 14 markets, suspending operations in Tanzania, Cameroon, and Rwanda.
We would like to offer the reader a few lessons we believe may be useful for the “Amazon of Africa” – lessons that can be, and should have been, learnt from one Chinese bootstrapper – Alibaba.