Africa’s e-commerce giant, Jumia, said it is reshaping its business strategy to defend market share, boost profitability, and restore investor confidence as Chinese e-commerce giants Temu and Shein intensify their presence in Africa.
Jumia CEO Francis Dufay stated this in an interview with the Financial Times, where he also disclosed that the company is in the process of “rebuilding credibility” with investors while positioning itself to better compete against Chinese low-cost platforms.
Temu and Shein are rapidly gaining traction in African markets with rock-bottom prices and fast logistics.