JUMIA

Total 12 Posts

JUMIA admits to fraud as it reports Q2 2019 earnings

Having previously denied that the company had misrepresented its financials before its IPO, JUMIA has come out saying it has uncovered fraudulent sales and orders dating as far back as 2018. This was reported in the company's second-quarter results for 2019.

MTN Group to sell JUMIA shares

MTN Group has told iAfrikan that it is more focussed on its commercial relationship with JUMIA rather than holding onto its shareholding. Further reiterating that it is looking to liquidate its e-commerce investments.

DHL Africa eShop expanded

DHL has expanded their e-commerce offering, DHL Africa eShop, to cover 20 African countries allowing consumers to shop on hundreds on USA and UK online stores and get their deliveries via DHL Express.

Importance of venture capital funding

Sometimes, especially for e-commerce ventures, venture capital provides runway and capital for physical infrastructure and "plumbing" before the technology can stitch it all together.

Class action lawsuit filed against JUMIA

At least 4 class action lawsuits have been filed in New York against JUMIA Technologies for allegedly misleading American investors.

High order returns are normal - JUMIA

JUMIA reported impressive numbers and states that 41% order returns are just a normal feature of an e-commerce business.

JUMIA shares down 20%, labeled a fraud

Citron Research has published a report showing that JUMIA overstated its customer numbers and other material discrepancies when filing with the SEC.