E-Business
Jumia Sees Growth in First Quarter 2022 Results

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
- 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.
- 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.
- 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.
- 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
- 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
- Operating with strong governance and ethical standards.
E-Business
ALX Nigeria Launches 2025 Ventures Incubator, Premieres Pan-African “Do Hard Things” Finale

ALX Nigeria is once again proving that when African talent meets the right opportunity, magic happens. In a celebration of innovation, grit, and ambition, ALX officially launched its 2025 Ventures Incubator Cohort, an elite group of startup founders handpicked from across the country, while simultaneously premiering the grand finale of the pan-African “Do Hard Things Challenge” at its Lagos hub.
From tech founders solving community challenges to creatives turning ideas into global solutions, ALX is backing the bold and building the infrastructure to help them scale. The ALX Ventures Incubator is the next big leap for graduates of the Founder Academy, providing them with hands-on mentorship, investor access, and the resources to grow sustainable businesses that shape the future of the continent.
“The launch of the ALX Ventures Incubator is proof of our unwavering commitment to building the infrastructure for African innovation to thrive,” said Ruby Igwe, Country General Manager at ALX Nigeria. “We witnessed incredible potential at our Founder Academy, and this next step ensures that these promising startups receive the support they need to grow into high-impact ventures. It’s about translating potential into lasting impact.”
These new ventures are powered by the same spirit that drove the Do Hard Things Challenge—a bold initiative that saw ALX travel to eight African cities in search of the continent’s most inspiring entrepreneurs. The final stop? Mauritius, where top finalists pitched in a high-stakes finale, now screened live for the Lagos tech and media community.
The challenge took ALX across Lagos, Nairobi, Johannesburg, Kigali, Accra, Cairo, Casablanca, and Addis Ababa, shining a spotlight on resilience, creativity, and unstoppable drive.
“The ‘Do Hard Things Challenge’ embodies the spirit we cultivate at ALX: resilience, ambition, and the courage to tackle complex problems,” said Joshua Ebinabo, ALX Ventures Country Entrepreneurship Development Manager.
“Showcasing the finale from Mauritius here in Lagos connects our local innovators to the broader African story. It inspires our learners, reassures parents about the future of tech, and shows business leaders the investment-ready talent right here in our ecosystem.”
The event brought together founders, business leaders, creators, and media influencers—all gathered to witness what happens when African talent is seen, celebrated, and supported. The energy was electric, the vision was bold, and the mission was clear: empower Africa’s brightest minds to build global solutions from right here on the continent.
Whether you’re a startup founder looking to scale or a dreamer looking for your big break, ALX continues to be the launchpad for Africa’s digital and entrepreneurial revolution.
Learn more about ALX’s tech and business programmes at alxafrica.ng, and follow the movement on YouTube, TikTok, LinkedIn, and Instagram via @alxnigeria.
E-Business
OpenAI Eyes Chrome Acquisition if Google is Forced to Sell

Nick Turley, OpenAI’s Head of Product, testified in Washington that the company would be interested in acquiring Google’s Chrome browser if antitrust enforcers succeed in forcing Alphabet to sell the popular web browser.
This testimony was part of a high-profile trial in which the US Department of Justice is pushing to break up Google’s monopoly in the online search and advertising markets, Reuters reported on Tuesday.
The DOJ’s case centres on Google’s dominance in online search, which it argues unfairly stifles competition. A key aspect of the DOJ’s proposed remedies includes requiring Google to divest assets, including its Chrome browser, to restore a more competitive search environment.
According to the report, Turley’s statement provided insight into OpenAI’s competitive positioning within the generative AI space.
He noted that Google’s refusal to partner with OpenAI for access to its search technology within ChatGPT had pushed the company to explore alternative partnerships, particularly with Microsoft’s Bing.
Turley had previously written that ChatGPT leads the consumer chatbot market and did not consider Google its biggest competitor, according to an internal OpenAI document presented by Google’s lawyers during the trial.
He clarified that the document was meant to inspire OpenAI employees and emphasised that the company would still benefit from distribution partnerships, Reuters reported.
Earlier in the day, Turley testified that Google rejected OpenAI’s bid to use its search technology within ChatGPT.
OpenAI had reached out to Google after experiencing issues with its own search provider, Turley said, though he did not identify the provider. ChatGPT currently uses Microsoft’s Bing for search.
“We believe having multiple partners, and in particular Google’s API, would enable us to provide a better product to users,” OpenAI had told Google in an email shown at the trial.
OpenAI first reached out in July, but Google declined the request in August, citing concerns about competition. “We have no partnership with Google today,” Turley said.
The trial also highlighted Google’s internal strategy, including efforts to secure exclusive search agreements with major Android device manufacturers like Samsung.
According to Turley, such exclusivity could hinder the development of competing AI technologies, like ChatGPT, which depend on a range of search and data sources.
E-Business
Digital Consumers are Driving a New Era of Online Shopping, Transforming how Nigerian Youth Buy

The digital revolution is hitting Nigeria’s retail scene fast, and it’s being powered by the country’s youth. Armed with smartphones and a demand for affordability, they’re shaping the e-commerce industry where convenience reigns supreme.
Nigeria’s internet users, reaching more than half its population, creates a strong foundation for e-commerce growth. This growth is significantly fueled by the nation’s youth, a substantial 160 million (70% of the population), whose tech-forward nature drives the popularity of platforms like Temu, satisfying their demand for accessible and budget-friendly online retail.
This generation has flipped the retail script. Value is their compass, price comparisons their weapon, social media their guide, and convenience their non-negotiable. This isn’t just shopping; it’s a calculated pursuit of savvy options, the widest selection, and the best value-for-money deals.
The power of finding a good deal is undeniable, especially for these shoppers watching their wallets. Social media is a testament to this, filled with posts celebrating the newfound ability to purchase items once considered luxuries.
Take Anwulika Udanoh (@Anwulika Udanoh on Facebook), for example. Her recent post, detailing her shopping experience on Temu, is a perfect snapshot of this online shopping revolution. She stumbled upon affordable jewelry on the platform, swayed by glowing reviews, and took a chance. What followed was a delightful surprise: customised earrings bearing her name, a feat once thought impossible.
Even her son’s friend jumped on the personalisation trend with custom pendants. ‘Their prices will shock you,’ she wrote, with genuine excitement. And despite any concerns about longevity, the sheer joy of affordable, personalised style at good quality won her over. That’s the power of this shift.
This goes beyond mere bargain hunting; it’s about empowerment. It’s about unlocking the ability to express your unique style without sacrificing your financial stability. It’s about finding those small sparks of joy, like personalised jewelry that feels uniquely yours. For many, these platforms are a portal to a more colourful and individually tailored life.
Then there’s the spirit of adventure, captured in a simple tweet by Steph (@steph on X): ‘ordered a couple of desk items, wish me luck.’ It’s the essence of a generation eager to discover new ways to elevate their everyday life.
Launched in the country in November 2024, Temu offers a diverse selection that aligns with the dynamic needs of young Nigerians. The direct-from-factory online marketplace is known for cutting out layers of middlemen and their associated markups and costs, passing on savings to consumers. Serving more than 90 markets globally, Temu has become one of the most visited e-commerce sites worldwide and a top Apple-recommended app of 2024.
Let’s be real: budgets matter. In a country where every naira is carefully considered, competitive pricing and accessible payment methods, aided by partnerships like Temu and Verve, empower Nigerian shoppers with greater choice and freedom to embrace trends while making the budget go beyond. It’s like opening up a world of possibilities.
Adding to the appeal is a user experience designed for the mobile age. With 193.9 million cellular connections, smartphones are the gateway to this digital world, and intuitive platforms allow for seamless browsing and purchasing on the go, perfectly aligning with the dynamic rhythms of young Nigerian life.
This mobile-first approach is further amplified by the power of social proof. In a nation of 31.60 million social media users, reviews and recommendations carry significant weight, transforming satisfied shoppers into passionate brand advocates.
A growing digital environment, particularly in urban areas, presents a rich opportunity for platforms that resonate with the aspirations of young people. They seek more than just products; they want to build online communities, create digital identities, and shape their lifestyles.
Real stories like those of Anwulika and Steph show that Temu isn’t just a place to shop, but a platform that’s unlocking joy, creativity, and financial freedom for Nigeria’s youth. Whether it’s personalised jewellery, playful desk accessories or everyday essentials, Temu is turning everyday purchases into moments of empowerment — proving that with the right platform, anything is possible.
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