The International Finance Corporation (IFC) has announced a US$25 million equity investment in Jumia.
According to the IFC, the investment will support Jumia’s next phase of growth across its core African markets by strengthening its integrated marketplace and logistics network while helping businesses improve productivity, increase sales and enhance price transparency.
“The support of the World Bank Group is a milestone for Jumia and for African e-commerce more broadly,” said Francis Dufay, CEO of Jumia.
“It validates both the discipline we have brought to our business in recent years and the tangible impact our platform has on small businesses, jobs, and consumers across our eight markets. With partners like the IFC, we can accelerate the digital commerce infrastructure Africa needs.”
Farid Fezoua, Director for Equity, Funds, and Venture Capital at the IFC, said the investment highlights the role of pan-African e-commerce platforms in expanding economic opportunities.
“Our investment supports the company’s next phase of growth while contributing to job creation, the digitization of supply chains and distribution channels, and the mobilization of private investment,” he said.
For these and more stories, follow us on X (Formerly Twitter), Facebook, LinkedIn and Telegram. You can also send us tips or reach out at info@techarena.co.ke.
Also Read: Rural Kenya Now Drives 60 Percent of Jumia Orders