Jumia cuts Q2 deficit and attracts $50mn investment

In the face of global supply chain disruptions and regional economic headwinds, Jumia Technologies AG demonstrated operational efficiency during the second quarter of 2026. The pan-African e-commerce enterprise announced a 36% year-over-year reduction in its Adjusted EBITDA deficit, narrowing it to $8.7million. Alongside this operational progress, the company expanded its gross profit by 28% to $30.7million, supported by a 23% growth in Gross Merchandise Value (GMV) on a perimeter-adjusted basis.

This progress comes despite notable external challenges. Price spikes in memory chips hindered smartphone availability, Gulf air-freight bottlenecks disrupted logistics, and elevated fuel costs added pressure to fulfilment expenses. Furthermore, a local slowdown in Ivory Coast, triggered by falling cocoa farmgate prices, weighed on consumer spending.

Despite these obstacles, Jumia’s focus on disciplined execution and structural cost optimisation yielded solid results. Physical goods orders surged by 28% year-over-year, whilst quarterly active customers grew by 24%. Strong performance in key markets such as Nigeria, where GMV rose by 36%, underpinned this momentum. To counter fuel price volatility, Jumia expanded its network of pick-up stations, which fulfilled 75% of shipped packages during the quarter. The company also deployed artificial intelligence across operations, customer service, and technology workflows to streamline headcount and lower costs.

Confidence in Jumia’s long-term trajectory was further underscored by a newly announced $50million capital raise. Anchored by a $25million investment from the International Finance Corporation (IFC), a member of the World Bank Group, the funding round includes contributions from leading shareholders such as Axian. These net proceeds will strengthen the balance sheet as Jumia expands its integrated marketplace and logistics infrastructure across core African markets.

Commenting on the strategy, Chief Executive Officer Francis Dufay stated: "Importantly, we deliberately chose to protect our margins and unit economics this quarter rather than chase GMV at the expense of profitability." He added: "We can't say with certainty how long these headwinds will last, but the second quarter of 2026 proved we have the right fundamentals to navigate this kind of macro uncertainty."