E-commerce giant, Jumia Technologies AG recorded a $20.1 million operating loss in Q3 2024, representing a 10% increase year-on-year when compared with the $18.3 million posted in the same period last year.
The company reported revenues of $36.4 million, representing a 13% year-over-year decrease but a 9% increase in constant currency terms, reflecting resilience in core operational markets despite significant currency depreciation in Nigeria and Egypt.
Jumia’s Gross Merchandise Value (GMV) for the quarter stood at $162.9 million, down by 1% year-over-year but up 29% in constant currency.
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