The 2021 quarter one report (Q1 2021), released by Jumia showed 11% year-on-year gross profit increase, as adjusted EBITDA loss decreased by 24% year-over-year.

Coming from a past year filled with financial mishaps, the Q1 2021 result consolidates the e-commerce’s gains at the end of last year.

The report by the company also showed a sixth consecutive quarter of positive Gross Profit After Fulfillment Expense, which reached €6.2 million, more than doubling YoY.

According to Jumia, the Q1 2021 report is a reflection of a solid progress towards profitability, with gradual monetization and cost discipline as major drivers.

“Our first-quarter results reflect solid progress towards profitability. The drivers remain consistent: selective and disciplined usage growth, gradual monetization, and continued cost discipline. The first quarter of 2021 was the sixth consecutive quarter of positive gross profit after fulfillment expense, which reached €6.2million, more than doubling year-over-year, while Adjusted EBITDA loss contracted by 24% year-over-year, reaching €27.0 million. Our strategy to increase our exposure to everyday product categories continues to yield positive results, enhancing the relevance of our marketplace for consumers”, commented the Co-Chief Executive Officers of Jumia, Jeremy Hodara and Sacha Poignonnec.

Jumia also disclosed that it made significant steps towards the $10billion market capitalization. “We have raised over $570m over the past 6 months, strengthening our balance sheet & increasing our strategic flexibility. We are confident we have all the right ingredients to continue to build a growing business across both our e-commerce and fintech activities.”

As contained in the report, Jumia is making significant inroads in payment and fintech, with 37% of Orders in the Q1 of 2021 completed using JumiaPay.

The report revealed that Total Payment Volume on JumiaPay increased by 21% from €35.5million in the first quarter of 2020 to €42.9million in the first quarter of 2021. On a constant currency basis, TPV increased by 35% year-over-year.

On-platform penetration of JumiaPay as a percentage of GMV increased to 26.0% in the first quarter of 2021 from18.7% in the first quarter of 2020.

JumiaPay Transactions increased by 7% from 2.3 million in the first quarter of 2020 to 2.4million in the first quarter of202.

Overall, 36.7% of Orders placed on the Jumia platform in the first quarter of 2021 were completed using JumiaPay, compared to 35.5% in the first quarter of 2020. Jumia Food and on-demand services accounted for 22% of orders and 9% of GMV in the first quarter of 2021.

Likewise, annual active consumers reached 6.9 million in the first quarter of 2021, up 7% year-over-year, as the platform continued to acquire new consumers and engage existing ones.

Orders reached 6.6 million, up 3% year-over-year, a reversal of the declining trend observed over the prior two quarters.

Jumia also recorded operating loss of €33.7million in the first quarter of 2021 decreasing by 23% on a year-over-year basis demonstrating meaningful progress on the brand’s path to profitability. GMV was €165.0 million, down 13% on a year-over-year basis and 5% on a constant currency basis.

A student asked me here: how were your grades in the US? I told him: As. You will not see anything but As. In short, in some of the courses, I scored 108% because there is that thing where they offer bonuses to help those struggling to catch up. In Nigeria, making A was tougher, not because of the academic work, but because of the academic environment. Work hard to make good grades even though many will say it does not matter. Notice that they have been unable to explain how bad grades help!

It has been a long time since I made a resume. But my resume those days was evident: 4.00/4.00 CGPA. The world respects that. That was how I got my NASA scholarship because the reviewer wanted to meet the all As guy.

To make As, you must have had an A-lifestyle on managing your time. Those are great signs you can get things done. So, I challenge you to avoid making Bs and fill the transcripts with As. Show people that even though you came from Africa, that you are good to return As in transcripts. It opens many things because brilliant students are admired.

In Johns Hopkins University, I had many fellowships: grades make those happen. Aim higher and challenge your capabilities to be the best.

My Tuskegee University transcript. I am an American straight A student

LinkedIn Comment on Feed

Comment: Ehmm, before those who managed to scrape Bs and Cs get depressed reading this, just know that if you are great at what you do, nobody will demand for your grades, only your sterling work will be shining everywhere. All the guys innovating and creating big things we admire, we don’t know them because of their grades, rather because of products and services they have delivered to humanity.

I understand that this post was intended to inspire young people for academic excellence, but it can easily send a lot more people into depression; so do not get it twisted, irrespective any side of the divide you fell under.

If you were never wired to be book smart, don’t kill yourself, not everyone should have wasted years chasing a degree, when you would have been excellent, had you taken a different route. Some people only gained communication skills from all their years of schooling, every other thing they accomplished was through sheer ingenuity; but it’s all well and good. Stop beating yourself up. Regret is a waste of time.

Now you have another chance to make all As, by being terrific and excellent at what you do; excel there, and the world will congregate and honour you.

Keep believing…

My Response: Great perspectives Francis Oguaju and thanks for broadening this conversation. Certainly, As in life must not stop in transcripts. We need to keep pushing. But as you noted, I want young people to push more. The greatest failure is not the B or C but not fixing things that produce bad grades. Why? If you do not fix those, post graduation, they will remain. But if you do the best and make Cs, you will be fine in life because those principles will take you higher. The grades do not matter. What matter is what you do to get them! Please read this piece.

The Biggest Failure is NOT Fixing Things that Lead to Failures

This week, we concluded an arrangement to appoint an Official University Partner for Tekedia Institute in Nigeria. The university is a federal university and one of the largest in the nation. This school will serve as a vehicle to bring new students, companies, communities and other stakeholders into Tekedia Institute.

Tekedia retains and holds 100% of course and program development along with customer support. More so, Tekedia Institute will develop special courses along with the university to serve its targeted markets; both the school and Tekedia will jointly award the certificates. The public announcement is coming next month.

In Nigeria, we expect to graduate at least 15,000 undergraduate students this year who despite being enrolled in their different academic programs are forming groups to attend Tekedia CollegeBoost.

We will streamline many elements to make it possible to develop focused regional business programs. For example, we can offer a course on Business of Shoe Making for Aba,  Cocoa Business in Osogbo, Onion – Growing and Scaling in Kaduna, etc. Through university partners, Tekedia will translate knowledge bases in schools and communicate them via courses in ways to shape communities and markets in Africa.

Our playbook is big – and we are just starting. I want to have Vice President Prof Yemi Osinbajo, President Buhari, House Speaker and Senate President join our faculty because I want to develop a course on “Executing National Visions and Mobilizing Citizens and Firms”. Working with these faculty members, we will distill the Call to Missions into components. It would be a National Course for the nation. If we do that, everyone will understand where we are going. Sure, we can make that course free! Lol.

Consider Tekedia Institute for your training, we are changing lives!

“[The Dangote System by Ndubuisi Ekekwe] is my best read so far in 2021. I’m reading “The Creative Edge” by Matthew Ashimolowo now, let’s see if it will topple this one”. Olusegun A, Doctoral Researcher 

If you are looking to understand how markets work, and find deeper insights on the mechanics of competition, you need to read “The Dangote System: Techniques for Building Conglomerates”. Remember, until you have read a book, do not comment on the title!

Begin reading the book here.