When you think of an efficient e-commerce service, the first name that springs to mind is Amazon. The American giant has made a name for itself over the years, and now boasts millions of users. 

However, this platform has had its work cut out for it over the last ten years, with the African entity Jumia. If you're not familiar with it, you should know that this platform could boast of being an African unicorn; a status that many start-ups dream of attaining. 

The idea that changed everything 

Jumia was founded by Frenchmen Jérémy Hodara and Sacha Poignonnec. Africa is booming. It's true that the African population has many needs, and that it can be easy for people with good ideas and the desire to roll up their sleeves to develop a viable project. But the creators probably had no idea how quickly theirs would grow. 

The basic idea was clearly to create an African Amazon: an e-commerce platform bringing together sellers and consumers, enabling both products and services to be purchased, with secure online payment. 

This was done in 2012, by the Africa Internet Group in Nigeria, even though the entity is registered in Berlin. 

However, the creators know that the vast majority of Africans don't have bank accounts, which explains why transactions via cell phones have been exploding for years (see the Wave unicorn, which intends to respond to this phenomenon with low prices): how, then, to pay for transactions made on the site? The answer is simple: users and customers will be able to pay in cash, on receipt of their parcel. 

The idea, however, is to gradually democratize remote payment across the entire African continent. It's even possible to place orders by telephone, and returns are free and easy: enough to convince even the most skeptical. 

The idea caught on, and right from the start the start-up received a lot of financial support. Four years later, in 2016, the company raised 300 million euros. 

The development and consecration of Jumia

The platform's success was immediate. From electronics to hygiene products, services and food, Jumia aims to meet the needs of as many people as possible. 

Barely three years after its creation, the site recorded sales estimated at 134.06 million euros, double the previous year's figure. However, the founders know that the company is not yet profitable: the money is used to develop the entity, to expand throughout Africa. 

With an effective rebranding action, in 2016, Jumia is clearly gaining in visibility, as all companies have its name attached to their activity. Where once a structure was known as Everjobs, it is now transformed into Jumia Jobs. 

In all, 9 sites inspired by great successes around the world were created and matured at different speeds for the African people, who were waiting for this type of service. That was the year the company was valued at over a billion euros. 

Online payment, obviously called Jumia Pay, has enabled this means of payment to take off, something that was difficult at the outset. Less than 5 years later, it accounts for 40% of transactions. 

In 2018, less than 6 years after its creation, Jumia is present in 14 countries on the African continent; because not all of the population simply benefits from Internet access. 

With no presence in this territory, Amazon has a serious competitor, which has earned Jumia the title of African Amazon. 

Over the years, new technology centers have sprung up all over Africa, although the technical center remains in Portugal. 

However, Jumia has no intention of competing with Amazon, which can afford to deliver in 2 hours under certain premium contracts. The constraints are not the same, and we have to contend with the vagaries of the weather as well as regular power cuts. Nonetheless, a user-customer is guaranteed delivery, in the worst case within three days. 

Jumia: key information 

Although we should speak more precisely of Africa Internet Group, the site took its definitive name in 2012, when it was founded to become Jumia. Growth has been rapid. 

It's difficult to put an exact figure on the number of people employed by Jumia. 5,000 people work actively for the site, but there are also people who help buyers who don't have a computer. 

By lending them their equipment and acting as intermediaries for Jumia, we're talking more about ambassadors who, for this work, get an additional income, rather than a full-time job. 

In the first quarter of 2022, Jumia posted sales of $47.6 million. 

African unicorn Jumia loses its magic term to list on the New York Stock Exchange in April 2019. It has only taken 7 years to achieve this result. 

Jumia is present in many areas: travel (Jumia Travel), work and food. In this last area, which also includes beverages, Jumia intends to enter into some interesting partnerships. This is the case this year (2022) with Coca-Cola. Consumers can simply buy their favorite soft drink directly online. 

Even though the company has been in existence for 10 years, this year it wanted to highlight themes that are dear to its heart, as part of its CSR, notably in the preservation of the environment, social issues and respect for ethical standards at different levels (sellers, buyers, governance). A few months ago, deliveries in Kenya began to be made in electric cars, as a concrete expression of this social responsibility. 

Jumia's development potential remains immense, as the African continent as a whole remains a niche in many areas.

 Although Jumia is not yet as profitable as many of its fellow unicorns (or start-ups used to be, since they lose this status when they go public), its sales are still growing. Once again this year, with its partnership with Coca-Cola, Jumia is proving that it is not only continuing to develop, but also responding to the needs of the African population.

 Its online payment solution, as well as the possibility of paying in cash, is proof that the entity is aware of the problems, but is trying to move forward, by all means, even if it means always finding solutions to structural problems. 

Although the founding members left the company this year, the takeover by Francis Dufay and Antoine Maille-Mazeray (interim CEO and EVP finance and logistics) aims to increase profitability from 2023 onwards. 

In addition to the efforts of the management, the platform also works thanks to the trust of buyers and sellers. In 2020, the site listed 40 million products, sold by 110,000 sellers, with 6.9 million users. It is estimated that every two seconds, a transaction is made on Jumia, the African Amazon in 23 countries. 

Is it possible to remain humble when you're making such sales and your company is listed on the stock market? 

Africa is undoubtedly an excellent school for humility. It's probably not for nothing that, before handing over the reins, leaders continued to take economy flights to solve delivery problems, with the maxim "Innovate with thriftiness" sticking to them. Jumia proves every day that this is possible.