African e-commerce group Jumia narrowed its 2025 loss after exiting weaker markets and sharply reducing cash burn, reinforcing its push toward profitability.
- •The New York-listed parent of Jumia Kenya reported a loss before tax of $60.1M (KSh 7.75Bn), down 38% from a year earlier, as revenue and transaction volumes accelerated into the final quarter of the year.
- •Full-year revenue rose 13% to $188.9M (KSh 24.37Bn), while gross merchandise value increased 14% to $818.6M (KSh 105.60Bn), reflecting faster usage growth across its remaining African footprint.
- •After exiting South Africa and Tunisia in late 2024, the group ceased operations in Algeria in February 2026.
Momentum strengthened in the fourth quarter, when GMV jumped 36% year on year to $279.5M (KSh 36.06Bn) and revenue climbed 34% to $61.4M (KSh 7.92Bn).
Losses narrowed sharply as volumes scaled. Fourth-quarter operating loss fell 39% to $10.6M (KSh 1.37Bn), while adjusted EBITDA loss declined 47% to $7.3M (KSh 0.94Bn). The improvement reflected higher marketplace activity, logistics efficiency, and tighter cost control.
Cash flow showed the clearest turnaround signal. Net cash used in operating activities dropped to $1.7M (KSh 0.22Bn) in the fourth quarter, from $26.5M (KSh 3.42Bn) a year earlier, helped by a $9.6M (KSh 1.24Bn) positive working-capital contribution. For the full year, operating cash outflows improved to $47.9M (KSh 6.18Bn) from $57.2M (KSh 7.38Bn) in 2024. Liquidity ended 2025 at $77.8M (KSh 10.04Bn), lower than the prior year, which had been boosted by equity issuance proceeds.
Operationally, usage quality improved. Physical-goods orders rose 32% in the fourth quarter, while quarterly active customers increased 26%, signalling stronger engagement and retention. Nigeria remained the core growth engine, with orders up 33% and GMV surging 50%, reinforcing its weight in the group’s results. Kenya continues to operate within Jumia’s East Africa cluster, though the company no longer discloses country-level financials.
Jumia continued to simplify its geographic footprint. Algeria contributed about 2% of 2025 GMV, equivalent to roughly $16.4M (KSh 2.12Bn). Management said the exits improve efficiency and allow sharper focus on higher-growth markets.
Cost discipline remained visible. Fulfilment expense per order fell 12% to $1.97 (KSh 254), reflecting productivity gains and better logistics rates. Technology and content costs declined, while headcount fell 7% to just over 2,010 employees as operations were streamlined.
Looking ahead, Jumia forecast 27%–32% GMV growth in 2026 on a perimeter-adjusted basis and guided for an adjusted EBITDA loss of $25M–$30M (KSh 3.23–3.87Bn). The company targets adjusted EBITDA breakeven and positive cash flow in the fourth quarter of 2026, with full-year profitability targeted for 2027, supported by a leaner footprint and improving unit economics.
