Jumia faces a decline in its income thanks to the economic situation prevalent in the Country.
The company posted its 2016 half-year consolidated reports which showed a net revenue of EUR33.0 million for the first half of the year, down by 56% from the year before. Also, its cash position for the first half of the year fell to EUR5 million versus EUR10 million in the same period last year.
The company is blaming the impact of the shift from retail to marketplace and currency devaluation for the decrease in its net revenue
Despite this, Jumia’s active customer base increased from 800,000 to 1.2 million thanks to the restructuring of AIG into Jumia.
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