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Despite the shrinking purchasing
power of consumers, Jumia, Africa’s leading e-commerce platform, yesterday said
it is going to take advantage of the population of the country to expand into
other cities with population in the region of 20,000 people.
CEO of Jumia Group, Francis
Dufay, who spoke during the unveiling of Sunil Natraj, as Nigeria’s new Chief
Executive Officer effective January 1, 2024, said this year has been transformative
for the company.
He said Nigeria remained the
company’s biggest growth opportunity in Africa, adding that retail trade
remained largely underdeveloped saying the company was pushing hard to serve
underserved communities. He said the country remained a huge market for
consumers with millions yet to be convinced about the comfort, peace of mind
and ease that come with e-commerce.
Dufay who expressed optimism
about the future of the business in Nigeria, said the company is investing in
putting its foot on ground in the country to deepen the embrace of e-commerce.
Already, he said the expansion train has landed in Akure and Ilorin, Ondo and
Ekiti states capital respectively, promising more would come during the coming
years.
He said he was unperturbed by the
economic headwind in the country, saying it had operated in other challenging
terrains in the past.
On market share, he said what is
of utmost interest to the company is the market, not its share of the market
because it remained the leader in the e-commerce space.
Also speaking, outgoing CEO
Massimiliano Spalazzi, said though the year had been challenging with hitches
occasioned with cash scarcity, fuel subsidy removal and currency devaluation,
the company has remained focused on the consumers, ensuring quality product availability
at affordable prices.
While expressing hope in the
coming year, he said the company is working to reduce shipping cost, sustainability
and profitability.
Sunil who will replace Spalazzi
will continue focusing on making Jumia sharper and faster to delight more and
more customers with their needs. He will also work closely with partners and
vendors to make Jumia their most preferred sales channel.
“I'm thrilled I will be leading
Jumia in Nigeria, one of our largest markets, and to help transform Africa's
economy through e-commerce. It's an honour to contribute to Jumia's success in
the country, prioritising customer satisfaction, secure payments, and strong partnerships.
Our dedicated team is key to our future success, and I am confident we will
achieve even greater milestones, always earning our customers' trust,"
Sunil I reaction to his appointment.
Sunil came to Jumia in 2022 with
extensive experience in sub-Saharan Africa. In Jumia, he handled the Jumia
Express logistics business as VP of Sales and Marketing based in Lagos, Nigeria
before becoming the CEO of Jumia Ghana. He has worked towards cost definitions
and reduction, price definition and standardisation, and business development
and growth.
Prior to Jumia, he has managed
and built brands in the region and has handled large businesses in the FMCG
sector. He has been based in Africa for over 11 years, where he worked for
large multinationals such as GBFoods. Sunil holds a B.S in Engineering and an
MBA from The Indian Institute of Management Calcutta.
”We extend our sincere thanks and
wish the best to Massi as he departs our teams following 11 years since the
very start of Jumia. Massi has been part of the founding team since Jumia was
launched in 2012 and has covered many leadership roles across all our countries
and functions until his current one as CEO in Nigeria and EVP for the group. We
wish the very best for Sunil for this new challenge,” Dufay said.
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