JMIA - What Does Amazon's Africa Pivot Mean for Jumia?
According to Insider Magazine, Amazon (NASDAQ: AMZN) is planning a massive international expansion next year. This will give the e-commerce giant a bigger presence in Africa -- and that's Jumia Technologies ' (NYSE: JMIA) stomping ground. Let's dig deeper into what this new competition could mean for the struggling start-up.
As the self-styled " Amazon of Africa ," Jumia Technologies seeks to replicate the success of its U.S.-based counterpart as a third-party e-commerce marketplace that connects sellers with interested buyers. The company's key markets include Nigeria and South Africa. But unfortunately for Jumia, Amazon plans to establish a bigger presence in both countries early next year.
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What Does Amazon's Africa Pivot Mean for Jumia?