By Adedapo Adesanya

African e-commerce platform Jumia has secured $50 million in post-IPO equity financing, led by a $25 million investment from the International Finance Corporation (IFC), a member of the World Bank Group, as the company strengthens its financial position and accelerates its path to profitability.

The funding round, which also attracted existing major shareholders and selected new investors, comes as Jumia reported strong operational growth in the second quarter of 2026 and reaffirmed its target of achieving adjusted EBITDA breakeven in the fourth quarter of the year and profitability in 2027.

Jumia’s Q2 performance showed continued momentum across its core markets. Revenue increased 14 per cent year-on-year to $52 million, while gross merchandise value (GMV) rose 20 per cent to $216.3 million. Orders grew 28 per cent, quarterly active customers increased 24 per cent, and gross profit climbed 28 per cent to $30.7 million.

The company also reduced its adjusted EBITDA loss by 36 per cent to $8.7 million, pointing to improving operating efficiency as it works towards sustained profitability.

Nigeria emerged as one of Jumia’s strongest-performing markets during the quarter, with GMV rising 36 per cent and orders increasing 34 per cent year-on-year.

The company also recorded a 96 per cent increase in gross items sold from international sellers, driven by an expanding base of Chinese merchants and growing affordable fashion supplies from Turkey.

The new capital comes at a critical stage in Jumia’s turnaround strategy. Its liquidity position stood at $48.3 million at the end of the quarter, representing a $14.3 million decline during the period. The additional funding is therefore expected to strengthen its runway as the company moves towards its 2026 breakeven target.

Beyond strengthening Jumia’s balance sheet, the IFC investment is expected to expand economic opportunities across the markets where the company operates.

The World Bank Group said the investment could enable about 60,000 local active sellers annually to participate more fully in the digital economy, support approximately 1,800 direct jobs and create income-generating opportunities for more than 100,000 independent sales agents.

The IFC said the investment would support Jumia’s next phase of growth by strengthening its integrated marketplace and logistics network, while expanding access to digital commerce tools and services for businesses across Africa.

According to the development finance institution, stronger digital commerce infrastructure can help entrepreneurs and small businesses increase sales, improve productivity, access wider markets and connect consumers with a broader range of affordable products.

“The support of the World Bank Group is a milestone for Jumia and for African e-commerce more broadly,” Jumia Chief Executive Officer, Mr Francis Dufay, said.

He added that the investment validates the company’s efforts to improve its business discipline while recognising its impact on small businesses, jobs and consumers across its eight markets.

“With partners like the IFC, we can accelerate the digital commerce infrastructure Africa needs,” Mr Dufay said.

IFC Director for Equity, Funds, and Venture Capital, Mr Farid Fezoua, said Jumia demonstrates how pan-African e-commerce platforms can expand economic opportunities 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,” Mr Fezoua said.

Jumia, however, continues to face operational pressures, including supply disruptions affecting phones and electronics, higher fuel costs and weaker demand in Ivory Coast amid falling cocoa prices.

The company also exited Algeria earlier in 2026, while its continued shift from first-party to third-party sales is changing its revenue structure.

By Modupe Gbadeyanka

As part of efforts to expand its national retail footprint, Airtel Nigeria has rolled out 350 of the planned 500 premium experience centres designed to bring faster, more convenient service closer to millions of Nigerians.

Built as compact, high-efficiency touchpoints, the newly launched shops are designed to enable subscribers complete all transactions such as Home Broadband, Fibre and Outdoor Units Subscription, Postpaid Plan Subscription, Enterprise Applications Enquiry and Subscription, as well as Prepaid Product services such as SIM registration and Data Plan purchase, other enquiries and comprehensive account support.

They have been integrated into Airtel Nigeria’s broader customer experience agenda, which have seen the company continue to invest in digital self-service platforms, AI-powered customer support, nationwide customer forums, and significant network expansion across the country.

The rollout emphasises the organisation’s continued investment in customer experience and responds directly to feedback from customers seeking quicker access to everyday services without the longer waiting times that may be associated with larger retail centres.

At a symbolic launch held at City Mall, Onikan, Lagos, the Director of Sales and Distribution for Airtel Nigeria, Mr Joypratip Sengupta, said, “Our goal is to demonstrate our dedication to exceptional quality of service, and these new shops, by their design, location, and equipment fit right within our goal to deliver superior service to every one of our customers.”

He added that the expansion reflects Airtel Nigeria’s belief that excellent customer experience goes beyond technology to ensuring customers can receive support whenever and wherever they need it.

“Our business at Airtel is to ensure that we bring our services closer to our customers, and everything we do is centred on putting the customer first. These experience centres are open to help customers carry out their transactions faster and with greater ease.

“Whether you want to replace a SIM, purchase one of our routers, recharge airtime or data, or resolve any service issue, you can now do so more conveniently and closer to where you are,” he further stated

He explained that the initiative represents a significant update to Airtel’s retail strategy, placing greater emphasis on accessibility, speed, and convenience.

“These express shops are designed to reduce traffic at our larger shops while giving customers faster access to the services they need. More importantly, they reinforce our vision of building the most accessible customer service network in Nigeria. As the telecom operator with the country’s largest retail footprint, we will continue expanding into more neighbourhoods, making it easier for customers to connect with Airtel wherever they are,” Mr Sengupta noted.

In her remarks at the launch, the Head of Shops and Retail Postpaid Business at Airtel Nigeria, Ms Lynda Amechi, disclosed that the new retail model was born from listening to customers and reimagining how Airtel delivers its services.

“At Airtel, some of our best ideas come directly from our customers. One of the recurring concerns we received was the time customers sometimes spent waiting at our larger experience centres, even when they only needed simple transactions completed.

“We listened carefully and realised that many of these requests could be resolved within minutes if we brought our services closer to the communities where customers live and work.” She said.

By Modupe Gbadeyanka

A new social entertainment platform designed to redefine how people participate in the digital economy by rewarding users for watching, streaming, and creating content has been launched by Starbase Technologies.

The platform, Yolly, features a rich spectrum of content spanning entertainment, sports, lifestyle, education, technology and live events.

The initiative introduces a new approach to online participation by recognising that everyone who contributes to the internet deserves the opportunity to share in the value they help create.

Designed for today’s upwardly-mobile creator economy, the platform enables viewers, creators and brands to participate in a trusted digital ecosystem where meaningful engagement is recognised and rewarded.

Yolly was launched to create value for every participant in its ecosystem through Stars, its native digital rewards currency, which users accumulate through meaningful participation across watching, streaming and creating content.

Unlike conventional social platforms, where monetisation is often reserved for creators with established audiences, Yolly enables creators to earn from their very first stream, removing follower thresholds and equipping emerging talent with features such as gifting, Boosts from day one and the Founder Creator badge to help them grow their communities.

Viewers, meanwhile, can earn Stars simply by watching the content they love, with rewards available from their very first session, under the watch+ category.

For brands, Yolly replaces impression-based advertising with a transparent model built on verified, engaged attention. Supported by per-minute performance metrics, real-time dashboards and brand-safe controls, the platform enables businesses to measure engagement more accurately while connecting with audiences in a trusted digital environment.

The Head of Business for Yolly, Mr Emeka Okenwa, said the platform’s rewards economy has been designed to prioritise wholesome content over viral moments while creating meaningful opportunities for everyone who contributes to the digital ecosystem.

“The platform has been developed on the premise that the future of the creator economy should be more inclusive, more rewarding, and built around genuine communities rather than algorithms alone,” he added.

Mr Okenwa noted that Yolly was built on the principle that social platforms should encourage wholesome, family-oriented content while giving viewers, creators and brands a safe environment to connect, create and grow.