Jumia remains in the red in Q4 2024, despite years of cost cutting
- Jumia reported a revenue of $45.7 million for Q4 2024, down 23% year-over-year.
- Operational losses grew to $17.3 million, compared to $4.5 million in the same period last year.
- The company decided to exit South Africa and Tunisia by the end of December 2024 to focus on East and West African markets.
While Jumia's efforts to streamline operations and focus on profitable markets are commendable, the ongoing financial losses and challenges in achieving profitability raise concerns about the sustainability of its business model. The company's future will heavily depend on the effectiveness of its strategic pivots and its ability to navigate economic uncertainties in the region.
