Jumia in devastating Sh12.4 bn loss as customers, sales drop

E-commerce platform Jumia Group has reported a net loss of Sh12.4 billion for the year to December even as the business, which has operations in Kenya, recorded a drop in revenues and customer numbers.

Jumia, which is owned by German-based technology firm Rocket Internet, says its net loss improved from the previous year’s Sh20 billion, even as its sales in 2016 dropped 41.6 per cent to Sh9.4 billion.