Jumia’s share price falls 28% after tepid 2024 performance

Shares of African e-commerce firm Jumia plunged 28% on Friday as investors reacted to its continued losses in 2024 despite improved cost efficiency. Jumia’s share price declined from $3.88 to $2.82, slashing its market capitalisation to $285.2 million—down from $1.3 billion in Q3 2024.

The company’s revenue declined by 10% to $167.5 million in reported currency in 2024, and in the…