Jumia, one of Africa’s biggest e-commerce platforms announced today in a press statement that co-founders Jeremy Hodara and Sacha Poignonnec have officially stepped down from their position of co-CEOs.
This announcement was made by the company’s Supervisory Board and in the statement the Chairman of the Board Jonathan Klein appreciated the co-founders for being at the helm of affairs for the last decade and driving the company to the forefront of the African e-commerce market.
The statement also included that Francis Dufay, a long time executive of Jumia overseeing its operation in Africa as the executive vice president for Jumia Africa, will step up to the role of CEO at the company. Along with this announcement came other executive reassignments. Antoine Maillet-Mezeray, the Chief Financial Officer, will now serve as a member of the company’s management board, He will also be taking on the role of executive vice president of finance and operations.
Speaking on the new appointment the Chairman of the Board Jonathan Klein said “As we look ahead to the next chapter of Jumia’s journey, we want to bring more focus to the core e-commerce business as part of a more simplified and efficient organization with stronger fundamentals and a clearer path to profitability. We look forward to working closely with Francis, Antoine and the leadership team to execute on these objectives and continue on our mission of offering a compelling e-commerce platform to consumers, sellers and the broader Jumia ecosystem in Africa,” he added.
Jumia first launched its operation in Nigeria in 2012 and expanded to five other African countries: Egypt, Morocco, Ivory Coast, Kenya, and South Africa. Within the space of two years it became operational in Tunisia, Tanzania, Ghana, Cameroon, Algeria, and Uganda, and by 2018 Jumia had launched in 14 African countries. Its products includes an e-commerce store, JumiaPay, the company’s payment solution division, a marketplace, and a logistics business.
Within the last seven years Jumia has raised over $885 million in funds, making it one of the most funded African startups. Although Jumia is a Nigerian-based company it’s founders have high ambition and the company has transcended into an African giant business leaving massive footprints in the continent.