Jumia reaches lowest losses in four years under new management

Q1 2023 marks the first quarter Jumia’s new management implemented its strategy after riding out the blueprint of previous management in Q4 2022. The result? Jumia saw its losses decrease significantly: adjusted EBITDA loss dropped 51% year-over-year to $27 million, on track to meet the company’s end-of-year target of $100-120 million in adjusted losses. Similarly, operating loss was down 54% from Q1 2022 to $30.9 million per the company’s just-released financials. 
The streamlining efforts of Q4 2022, where Jumia reduced its headcount by 20% affecting 900 roles across its 11 markets, were ins

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