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Jumia Recounts Major Milestones in 2019

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  • Jumia Recounts Major Milestones in 2019

Lagos, Nigeria; 30 January 2020: As Nigeria continues to make significant progress in the e-commerce sector, Jumia, a major player in the sector, has reiterated its commitment to ensuring growth across its platform to satisfy its consumers.

The Co-Founder and Co-Chief Executive Officer of Jumia Group, Jeremy Hodara stated this while reviewing the Company’s activities for the year 2019.

According to Hodara, a major milestone recorded in 2019, was the impressive acceptance of the Jumia Pay payment platform by consumers using the Jumia platform. Jumia Pay accounted for over 30% of transactions in the third-quarter of 2019.

Another major achievement for the Company in 2019 was its listing on the New York Stock Exchange (NYSE), thus making Jumia the first e-commerce Company in Africa to be listed on the floor.

The report also showed that Jumia expanded e-commerce opportunities in Ibadan and Edo states in the year under review while also extending e-commerce penetration to more rural areas in Bayelsa and Bonny in Rivers State, where choices for products are extremely limited. To better serve its customers in the remote areas, Jumia launched its cash-on-delivery programme for customers in 15 cities in the North and South-East regions.

The expansion of the Jumia’s logistic network was another area of improvement in 2019. “We integrated more than 30 new logistics partners and opened more than 50 Last Mile delivery hubs to facilitate deliveries for our sellers to consumers”, he said.

“We launched International Sneakers Day and Home of Brands marketing campaigns to drive e-commerce penetration in Nigeria. Again, in 2019, the Jumia App, was the most downloaded App in the Nigerian e-commerce space. Jumia was also recognized as one of the best places to work by Jobberman”.

Hodara restated that Jumia is keen on positioning the company for enhanced profitability and better services for its teeming customers.

“Our focus for the next growth is to increase the purchasing power of customers, build a robust platform for Jumia Pay, partner with vendors and be the best logistics provider in Nigeria”, he said.

Meanwhile, as part of the company’s drive for excellence along the lines of the next growth phase, erstwhile Chief Executive Officer, Jumia Nigeria, Juliet Anammah has been elevated to the position of the Chairwoman of Jumia Nigeria and Head of Institutional Affairs of Jumia Group. Consequently, Mr. Massimilliano Spalazzi assumed the role of Chief Executive Officer at Jumia Nigeria, while still functioning in his position as the Executive Vice President of Marketplace.

Spalazzi, in his response, said he is determined to align with the company’s growth plans for the coming years to drive the Nigerian business and indeed the growth of e-commerce in Africa as he assumes his new role as the Chief Executive Officer of Jumia Nigeria.

“I am happy to assume this role and we are committed to growing the e-commerce business in Africa. By this, we are inventing and diversifying our businesses to better cater to our customers. At Jumia, we are the custodian of our customers’ happiness”, he said.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Telecommunications

Lagos Residents Frustrated by Rapid Data Drain, Call for NCC Action

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Lagos residents are expressing increasing frustration over what they describe as the rapid depletion of their data bundles.

Many subscribers are now calling on the Nigerian Communications Commission (NCC) to address their concerns as they suspect changes in billing practices by telecommunication providers.

Numerous subscribers have reported that their data does not last as long as it used to. A Lagos-based teacher, Mrs. Nafidah Zaynab, shared her experience, stating that a N2,000 data bundle, which previously lasted almost a month, now depletes within just a few days.

This sentiment is echoed by many, including Idowu Anabili, a trader who has reduced his data usage due to rising costs.

Abdullahi Yunus, who runs a café, noted a significant increase in his data expenses, spending between N70,000 and N100,000 monthly, up from N30,000. He attributes this spike to faster data consumption.

Telecom operators deny any wrongdoing, attributing the faster data consumption to increased usage by subscribers.

An anonymous official from MTN explained that the variety of activities performed on smartphones has increased, leading to faster data usage.

Airtel Nigeria’s spokesperson, Mr. Femi Adeniran, suggested that background apps and high-definition streaming contribute to the issue.

Despite complaints, operators assert they have not officially increased data prices. They emphasize that automatic app updates and other technical factors may be responsible for the perceived quick depletion.

Experts suggest that the challenging economic climate may be pressuring telecom companies to subtly reduce data value.

The industry has reported a 43% rise in operational costs, although no formal tariff hikes have been announced.

The NCC has clarified that it has not authorized any increase in data tariffs. The commission highlights technical factors like automatic video play and app updates as potential causes for quick data depletion.

In a bid to assist consumers, the NCC has advised turning on data saver modes and managing app updates to conserve data.

To combat the issue, Mobile Network Operators (MNOs) have initiated a campaign to educate consumers on optimizing their data usage.

They recommend practices such as disabling automatic updates and closing unused apps.

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Social Media

Meta Shuts Down 63,000 Nigerian Accounts in Sextortion Crackdown

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In a significant move to combat online crime, Meta Platforms Inc., the parent company of Facebook, Instagram, and WhatsApp, has removed 63,000 accounts in Nigeria linked to sextortion scams.

This sweeping action is part of Meta’s ongoing effort to address the growing threat of digital extortion on its platforms.

Unmasking the Scammers

The crackdown, which took place at the end of May, targeted accounts engaged in blackmail schemes.

These scammers posed as young women to coerce individuals into sharing intimate photos, which were then used to extort money from the victims.

The removal follows a Bloomberg Businessweek exposé highlighting the rise of such crimes, particularly affecting teenagers in the United States.

The Global Impact

The U.S. Federal Bureau of Investigation (FBI) has identified sextortion as one of the fastest-growing crimes targeting minors.

The schemes often lead to severe consequences, including the tragic suicides of more than two dozen teens.

In one high-profile case, the death of 17-year-old Jordan DeMay in Michigan led to the arrest of suspects traced back to Lagos, Nigeria.

The Role of the Yahoo Boys

Many of the dismantled accounts were linked to the “Yahoo Boys,” a notorious group known for orchestrating various online scams.

These individuals have been using social media to recruit and train new scammers, sharing blackmail scripts and fake account guides.

Meta’s Response

Meta’s spokesperson emphasized the company’s commitment to user safety, stating, “Financial sextortion is a horrific crime that can have devastating consequences.”

The company is continually improving its defenses and has reported offenders targeting minors to the National Center for Missing & Exploited Children.

To enhance protection, Meta has implemented stricter messaging settings for teen accounts and safety notices regarding sextortion.

They are also employing technology to blur potentially harmful images shared with minors.

Ongoing Efforts

Meta’s actions highlight the complex and evolving nature of online crime. The company has pledged to remain vigilant, adapting its strategies to counter new threats as they emerge.

“This is an adversarial space where criminals evolve to evade our defenses,” Meta noted.

Looking Forward

As digital platforms continue to grapple with issues of privacy and security, Meta’s recent actions demonstrate a proactive stance in safeguarding users.

By dismantling these networks, the company aims to reduce the prevalence of sextortion and foster a safer online environment for all.

The crackdown serves as a reminder of the need for continued vigilance and collaboration between tech companies and law enforcement to protect individuals from the harmful effects of digital exploitation.

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Fintech

Flutterwave Celebrates Inclusion in CNBC’s Top 250 Global Fintechs

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Flutterwave has been recognized as one of the Top 250 Fintech companies globally by CNBC and Statista.

Joining the ranks of industry giants like Ali Pay, Klarna, Piggyvest, and Mastercard, this accolade underscores Flutterwave’s impact on the financial technology sector.

This honor follows Flutterwave’s recent inclusion in Fast Company’s Most Innovative Companies list, highlighting the company’s pivotal role in transforming Africa’s payment landscape.

The recognition is a testament to Flutterwave’s dedication to innovation and excellence in providing seamless payment solutions across the continent.

Expressing gratitude, Flutterwave acknowledged its talented team, supportive board, reliable partners, and loyal customers for contributing to this success.

The company continues to drive progress in the fintech industry, reinforcing its commitment to enhancing financial accessibility and inclusion in Africa and beyond.

Flutterwave’s recognition on these prestigious lists marks a proud moment and a significant milestone in its journey, reflecting the company’s growing influence and leadership in the global fintech arena.

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