4 June 2019

Africa Roundup - Jumia's Post-IPO Earnings, Gokada's $5.3m Raise, Facebook's Fake-News Purge, Joe Montana's Fintech Investment

Jumia held its first post-IPO earnings call and weathered a short-sell assault in May, with Wall Street showing confidence in the Pan-African e-commerce company.

On the numbers, key takeaways were that Jumia's Gross Merchandise Value (GMV) -- the total amount of goods sold over the period -- grew by 58% to €240 million. Marketplace revenue grew 102% to €16 million, and gross profits as a percentage of GMV grew by 6.5% in Q1 2019.

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