IFC Acquires US$25 million Equity Interest in Jumia Technologies AG.
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has announced a $25 million equity investment in Africa’s largest public e-commerce platform, Jumia Technologies AG (NYSE: JMIA), according to an official statement obtained by MarketForces Africa.
The group said its equity capital in Jumia is to support the expansion of Africa’s digital commerce infrastructure, helping small businesses reach new markets, create jobs, and strengthen economic opportunities across the continent.
The investment is expected to enable approximately 60,000 local active sellers each year to participate more fully in the digital economy, support around 1,800 direct jobs, and create income-generating opportunities for more than 100,000 independent sales agents.
“As digital commerce continues to grow across Africa, reliable access to online marketplaces, logistics networks, and digital payments is becoming increasingly important for entrepreneurs and small businesses seeking to expand beyond local markets.
“Strengthening this infrastructure can help firms increase sales, improve productivity, and connect consumers with a wider range of affordable goods and services, ” the World Bank Group said.
The investment will support Jumia’s next phase of growth across its core African markets, strengthening its integrated marketplace and logistics network.
IFC said that by expanding access to digital commerce tools and services, the investment will help businesses grow, improve price transparency, and contribute to more inclusive and resilient private sector development across Africa.
“The support of the World Bank Group is a milestone for Jumia and for African e-commerce more broadly.
“It validates both the discipline we have brought to our business in recent years and the tangible impact our platform has on small businesses, jobs, and consumers across our eight markets.
“With partners like the IFC, we can accelerate the digital commerce infrastructure Africa needs” said Francis Dufay, CEO of Jumia.
“Jumia demonstrates how pan-African e-commerce platforms can expand economic opportunity at scale. Our investment supports the company’s next phase of growth while contributing to creating jobs, digitising supply chains and distribution channels, and mobilising private investment,” said Farid Fezoua, Director for Equity, Funds, and Venture Capital at the IFC, World Bank Group.
#IFC Acquires US$25 million Equity Interest in Jumia Technologies AG.# Jumia Reduces Loss by 1% to $62.669m in First Half
