Jumia Technologies Co-CEO, Sacha Poignonnec announced that the company has big plans ahead of it. Jumia is planning to bolster growth and expansion by creating spin-offs for two of its departments: logistics and payments.
The logistics unit is responsible for the transportation of goods throughout 11 African countries Jumia currently operates in while the payments unit facilities the transactions on the website.
Jumia reported that its e-commerce activities have been resilient even in the face of the pandemic, and now it’s time to lean into that resilience with a new growth plan.
“We created something that does not really exist in Africa, which is an end-to-end logistics partner on the continent. We have built it from the get-go so that one day we are in the position to carve it out if we want to.”
The company’s stock price has increased by more than 500% in the last year. Jumia offers shareholders a gateway to the entire continent and is continuing to support that commitment, even as it exits certain markets.
Jumia’s raving success within the last year puts it in the perfect position to expand into new markets while also develop spin-offs of logistics and payments departments to better support the company’s growth.