Jumia Egypt CEO has high hopes for SMEs despite economic hardships

By Sherif Tarek

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Posted on September 1, 2022 09:27

 © Hesham Safwat, Jumia CEO (photo supplied by Jumia Egypt)
Hesham Safwat, Jumia CEO (photo supplied by Jumia Egypt)

Africa’s iconic tech company Jumia is facing stern challenges as the continent gets the short end of the stick in the ongoing Russian invasion of Ukraine. 

The Nigerian-born company Jumia, listed on the New York Stock Exchange since 2019, runs operations in 11 African nations: Nigeria, Egypt, Kenya, Uganda, Tunisia, Algeria, Morocco, Ghana, Ivory Coast, South Africa and Senegal.

In Egypt, Africa’s third most populous nation, Jumia has risen to prominence, becoming one of the North African country’s major e-commerce players through a tumultuous decade. Political upheaval, local currency flotation, the pandemic and finally the Russia-Ukraine war have left the Egyptian economy reeling over the past ten years.

Hesham Safwat, Jumia Egypt CEO since late 2014, speaks to The Africa Report about how the company’s main areas of business – selling merchandise, e-payments, and food delivery – have fared in such a volatile business environment. Amid the current war-induced macroeconomic disturbance, he sees both challenges and opportunities on the

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