Recent Updates — JMIA
The Supervisory Board of Jumia Technologies AG appointed Pedro Fangueiro, Renaud Glenisson, and Hesham El Gabry as members of the Company’s Management Board, effective October 19, 2026. The three new appointees join existing members Francis Dufay and Antoine Maillet-Mezeray, expanding the board to five members. Additionally, Francis Dufay was appointed Chair of the Management Board on the same date. These appointments aim to bring complementary technology, financial, operational, and commercial experience to support the Company’s next phase of growth and profitability. Jumia Technologies AG operates an e-commerce platform in Africa.
Jumia Technologies AG entered into a Subscription Agreement with the International Finance Corporation (IFC) to issue 9,057,970 new ordinary shares for approximately US$25 million. Concurrently, Jumia sold 4,528,983 ADSs to Axian and other investors for an additional US$25 million. The transactions involve the issuance of 9,057,968 ADSs at a price of US$5.52 per ADS, generating expected gross proceeds of US$50 million. Existing shareholders' statutory subscription rights were excluded. Jumia intends to use the net proceeds to support growth in core African markets and strengthen its marketplace and logistics network. The deal is subject to customary closing conditions and is expected to close in the second half of August 2026.
Jumia Technologies AG reported Q2 2026 revenue of $52.0 million, up 14% year-over-year, driven by a shift toward third-party sales. Gross profit increased 28% to $30.7 million, while the adjusted EBITDA loss narrowed 36% to $8.7 million. The company announced a $50 million capital raise priced at $5.52 per ADS, anchored by a $25 million investment from the International Finance Corporation and participation from existing shareholders like Axian. Jumia reaffirmed its target to achieve adjusted EBITDA breakeven in Q4 2026 and full-year profitability in 2027. The company operates as a pan-African e-commerce platform providing marketplace, logistics, and payment services.