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Jumia Elects New Supervisory Board, Aims for Profitability by 2027

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FAQSIR News Desk
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Jumia Technologies AG has appointed a new Supervisory Board as part of its strategic initiative to achieve profitability by 2027. The election took place during the company's Annual General Meeting on May 15, 2026, in Lagos, Nigeria, marking a significant step in Jumia's operational development and governance framework.

#New Board Members and Experience

The newly elected board comprises Hassanein Hiridjee, Dr. Akinwumi Ayodeji Adesina, and Benjamin T. Faw, along with the re-elections of Jonathan D. Klein and Anne Ooga Eriksson. This board has a wealth of experience in finance, e-commerce, and African development, aligning with Jumia's goals to enhance operational efficiencies and governance.

#Leadership Continuity

Jonathan D. Klein, a co-founder of Getty Images and the board's chairman, retains his position, continuing to provide leadership and guidance as Jumia shifts its focus towards sustainable business practices. His extensive experience with tech and e-commerce platforms is expected to be instrumental as the company seeks to stabilize its financial performance.

#Expertise in African Markets

Anne Ooga Eriksson will continue as Deputy Chairperson and Chair of the Risk and Audit Committee. Her deep understanding of African financial markets, gained during a 40-year tenure with PricewaterhouseCoopers, will serve as a valuable asset for Jumia. This experience will aid the board in navigating the complexities of the African business landscape.

#Notable New Members

Dr. Akinwumi Adesina’s appointment brings notable credentials as a former President of the African Development Bank, which he led during a time of significant expansion. His focus on development finance and unlocking Africa’s economic potential is expected to reinforce Jumia’s strategy in the region. Meanwhile, Benjamin T. Faw enters the board with a robust background in e-commerce and capital markets, poised to enhance strategic governance as Jumia aims for disciplined financial management.

#Financial Performance and Future Goals

In 2025, Jumia reported a gross merchandise value of approximately $818.6 million. Subsequent figures indicate a 31% year-on-year growth in the first quarter of 2026. To address its operational expenditures, the company is working towards breakeven adjusted EBITDA and positive cash flow by the fourth quarter of 2026, targeting full profitability within a year thereafter.

#Conclusion

The election of these board members reflects Jumia's commitment to strengthening its strategic vision and operational capacity in Africa. As the company shifts away from a growth-at-all-costs model, the focus will be on creating a sustainable and profitable business.

#Key Takeaways

  • Jumia's new Supervisory Board includes experienced leaders in finance and e-commerce, aiming for profitability by 2027.
  • Jonathan D. Klein remains as Chairman, providing continuity and strategic direction.
  • Dr. Akinwumi Adesina brings significant economic expertise to bolster Jumia's governance.
  • The company recorded a gross merchandise value of $818.6 million in 2025, with Q1 2026 showing 31% growth.
  • Jumia aims for positive cash flow and adjusted EBITDA breakeven by late 2026.

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Frequently Asked Questions

Jumia's Supervisory Board has been renewed, with shareholders electing three new members and re-electing two existing members. This move aims to enhance governance with substantial expertise in finance, e-commerce, and African development, which could significantly bolster the company's strategic direction as it targets profitability.
The new board members bring a wealth of experience from diverse sectors, including finance and technology. Their extensive knowledge of African markets is particularly valuable as Jumia seeks to strengthen its operations and governance, thereby positioning itself for sustained growth, especially as it aims for profitability by 2027.
Jumia is targeting adjusted EBITDA breakeven and positive cash flow by Q4 2026, aiming for full-year profitability in 2027. This ambitious roadmap reflects a commitment to financial discipline as the company shifts towards sustainable and profitable scaling.
In 2025, Jumia reported a gross merchandise value of approximately US$818.6 million, with Q1 2026 showing a noteworthy 31% year-on-year growth. Such growth signals positive operational momentum as the company continues to expand its footprint in the African e-commerce sector.
Dr. Adesina's extensive background in development finance and leadership within African economic institutions is a significant asset for Jumia. His inclusion on the board underscores the company's commitment to effective governance and its ambition to harness Africa's digital economy for future growth.
Jumia's emphasis on cash efficiency and unit economics is likely to enhance its operational stability and financial health. By prioritising these aspects, the company aims to improve its profitability metrics, which could attract greater investor interest and potentially lead to an increase in share value.
As the re-elected Chairman of the Supervisory Board, Jonathan D. Klein provides continuity and strategic direction at a crucial juncture in Jumia's evolution. His experience in building global platforms will likely play a key role in steering the company toward achieving its profitability goals.
Jumia is strategically positioning itself as a leader in Africa's burgeoning digital economy, connecting millions of consumers and thousands of businesses. As it enhances its service offerings and logistics capabilities, the company is poised to capture more market share, thus reinforcing its relevance and growth potential in this dynamic landscape.