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Jumia’s losses widened over the last year—and now coronavirus threatens to hobble growth

Jumia’s losses widened over the last year—and now coronavirus threatens to hobble growth

Jumia’s latest fourth quarter earnings result shows the largest e-commerce operator across Africa is not yet any closer to turning a profit. It comes after Jumia’s decision to shut down operations in Rwanda, Tanzania and Cameroon in a bid to optimize resources in markets that “present the best opportunities” to support growth. While it still maintains operations in 11 African countries and continues to pursue customer acquisition, Jumia is still reporting million-dollar losses.