Jumia Eyes Pumping EGP20mn Investments in Egypt this Year

Jumia Electronic Trading Company is planning to pump investments ranging between EGP18 million to EGP20 million in Egyptian market this year.

CEO at Rocket Internet GmbH (Jumia Egypt – Venture) Hesham Safwat said this comes among Jumia’s investments in Africa that worth US$80 million, stressing that the proportion of E-trading in Egypt reaches around 5 to 6% growth rate.

Jumia’s market share is ranging between 38 to 40% in local market, Safwat added.

Moreover, Safwat pointed out that Jumia is intending to open logistic branches in Sharm el-Sheikh, Hurghada , Mansoura, Asyut, Alexandria and Masr el-Gedida.