Jumia Announces Leadership Changes to Support its Journey Towards Profitability

New leadership appointed with a plan focused on path to profitability and e-commerce fundamentals

LAGOS, NIGERIA / ACCESSWIRE / November 7, 2022 / Jumia Technologies AG (NYSE:JMIA) ("Jumia" or "the Company") today announced the appointment of a new Management Board and Acting CEO, while Jeremy Hodara and Sacha Poignonnec, Co-CEOs, will be stepping down effective today.

The Supervisory Board has appointed Francis Dufay and Antoine Maillet-Mezeray as members of the Company's Management Board.

• Francis Dufay is appointed Acting CEO. He has been with the Company since 2014 and has held multiple senior leadership roles, including CEO of Ivory Coast and recently EVP Africa with responsibility for the group's e-commerce business across Africa. Francis has a track record of successfully scaling e-commerce operations in Africa with a strong focus on profitability. Based in Ivory Coast since 2014 and an Ivorian national, Francis brings a deep understanding of our business and the markets that we operate in.
• Antoine Maillet-Mezeray previously Group Chief Financial Officer, has been elevated to Executive Vice President, Finance & Operations. Antoine has been with Jumia for over six years and has played an instrumental role in driving the finance function and further developing it in a public market context.

Jonathan Klein, Chairman of the Supervisory Board, said of the announcement, "We thank Jeremy and Sacha for their leadership over the last decade to envision and build a company that became the leading pan-African e-commerce player. As we look ahead to the next chapter of Jumia's journey, we want to bring more focus to the core e-commerce business as part of a more simplified and efficient organization with stronger fundamentals and a clearer path to profitability. We look forward to working closely with Francis, Antoine and the leadership team to execute on these objectives and continue on our mission of offering a compelling e-commerce platform to consumers, sellers and the broader Jumia ecosystem in Africa."

Francis, Antoine and the broader leadership team will work together closely to drive the Company's strategic priorities and operations with a clear focus on:

• Building even stronger fundamentals for our e-commerce businesses by refocusing teams and resources on activities and projects delivering the best added value to consumers, sellers and the broader Jumia ecosystem.
• Reducing operating losses and setting the business on a clear path to profitability, through stronger cost discipline, targeted monetization initiatives and a more simplified and efficient organization.

The Company will be making select senior management changes with a focus on locating leaders and decision centers closer to consumers and sellers in Africa. In parallel, a search for a permanent CEO is ongoing.