The International Finance Corporation (IFC), the private-sector arm of the World Bank Group, is committing $25 million to Jumia Technologies AG to accelerate the growth of e-commerce across Africa. The investment is expected to strengthen digital commerce and help thousands of small businesses gain better access to online markets, creating new opportunities for entrepreneurs and consumers across the continent.
Through the investment, about 60,000 local active sellers annually are expected to participate more fully in the digital economy, while the initiative could support around 1,800 direct jobs and create income-generating opportunities for more than 100,000 independent sales agents. The move comes as online shopping continues to gain ground across Africa, where businesses are increasingly turning to digital platforms to reach customers beyond their immediate locations.
The funding will support Jumia’s next phase of growth across its core African markets, with a focus on strengthening its marketplace and logistics network. For small businesses, improved access to digital platforms, reliable delivery systems and online payment solutions could make it easier to expand their customer base, increase sales and compete in an increasingly digital marketplace.
The IFC investment also reflects the growing importance of digital infrastructure to Africa’s economic development. As more consumers and businesses move online, stronger e-commerce networks can improve access to goods and services, increase price transparency, digitise supply chains and open new pathways for private-sector growth. The World Bank Group expects the investment to contribute to a more inclusive and resilient digital economy across the continent.
Jumia CEO Francis Dufay described the support as a major milestone for both the company and Africa’s e-commerce sector, saying the partnership would help accelerate the digital commerce infrastructure needed across its markets. IFC Director for Equity, Funds and Venture Capital, Farid Fezoua, also said the investment demonstrates how pan-African e-commerce platforms can expand economic opportunities at scale while supporting jobs, digital supply chains and private investment. With the $25 million commitment, Africa’s digital marketplace could be set for another significant step forward.
source: Leadership
