It comes as no surprise that Jumia dominates Uganda’s online shopping space with 76% market share and with launch of Jumia Pay later this year, the company will set its foot into online payments.
The Jumia Pay service will be another first for the company in Uganda as it enters into the fintech space. The service which is currently live in Nigeria, Ghana, Kenya, Morocco, Egypt and Ivory Coast. The service is expected to provide you a safe, fast and easy way to make cashless payments on the Jumia platform. Potential financial services such as lending are being worked on for the future.
Jumia Uganda CEO said that while 2019 was a tough year globally, Jumia Uganda was on a path to attain profitability and it seems 2020 is the year the company will launch Jumia Pay. He said;
“In Uganda, we have seen that Jumia continues to dominate the online shopping space with 76% of Ugandan online shoppers relying on our platform in 2019. We are already serving tens of thousands of consumers through our e-commerce platform. In 2020 we will bring e-commerce to an even broader base by increasing our investments in marketing and order fulfillment. .”
For Jumia Pay to work, the company plans to as well increase the number of vendors selling on the platform as a key part of its expansion strategy. With plans to get over least 400 new vendors in Uganda monthly they expect to increase in product variety on its platform.
This means the company will also need to up its games when it comes to logistics capabilities by making sure they have same-day delivery in Kampala for all ‘Jumia Express’ items. And with Jumia Pay, this will all tie in well. Reports reaching our desk indicate that the e-commerce company is expanding on its existing “Jumia Pickup Stations”, where you pick up your orders at your convenience.
