{"id":562977,"date":"2021-06-14T04:00:27","date_gmt":"2021-06-14T04:00:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/jumia-flags-egypt-as-a-top-investment-destination-looking-at-everything-from-digital-payments-to-last-mile-delivery\/"},"modified":"2021-06-14T04:00:27","modified_gmt":"2021-06-14T04:00:27","slug":"jumia-flags-egypt-as-a-top-investment-destination-looking-at-everything-from-digital-payments-to-last-mile-delivery","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/jumia-flags-egypt-as-a-top-investment-destination-looking-at-everything-from-digital-payments-to-last-mile-delivery\/","title":{"rendered":"Jumia flags Egypt as a top investment destination, looking at everything from digital payments to last-mile delivery"},"content":{"rendered":"

<\/a> Africa-focused e-commerce giant<\/strong> Jumia plans to invest over USD 590 mn in <\/strong>Egypt <\/strong>and other <\/strong>African countries<\/strong> over the upcoming years starting 2021, CEO Hesham Safwat told Enterprise. Safwat declined to reveal exactly what portion of the funds would be directed towards Egypt, but said that it is \u201cone of the top countries we\u2019re focusing on.\u201d<\/p>\n

The amount was raised over two phases from the sale of American depositary shares on the New <\/strong>York <\/strong>Stock Exchange:<\/strong> USD 243.2 mn (pdf)<\/a> in December 2020 and USD 348.6 mn (pdf)<\/a> in March this year, he said.<\/p>\n

Where will Egypt\u2019s investments be channeled? <\/strong>Jumia Egypt will focus its investments on digital payments and other e-services including Jumia Mall and Jumia Food, Safwat said.<\/p>\n

Expansion plans: <\/strong>Jumia Egypt will increase its total number of pickup stations to 200 this July and increase its last-mile delivery stations by 40%, Thomas Maudet, managing director of Jumia Services Egypt, told us in May<\/a>. The company also plans to expand Jumia Food \u2014 which launched in Egypt seven months ago \u2014 in Cairo and Alexandria. Other plans include increasing its warehouses and delivery capacity in the Delta to improve its next-day delivery service.<\/p>\n

IN OTHER INVESTMENT NEWS-<\/strong><\/p>\n

Consumer healthcare giant Integrated Diagnostics Holding (IDH) will invest EGP <\/strong>300 mn in Egypt this year<\/strong> in a plan that will allow the company to open 19 additional branches nationwide before the year is out, IDH CEO Hend El Sherbini tells Hapi Journal<\/a>. The company, which plans to open 30-35 new branches annually, will inaugurate a third branch of Al Borg Scan in Heliopolis this month, in addition to opening three other sites of the scan centers across the country in 2H2022, she said.<\/p>\n

IDH has invested EGP 35-40 mn in Egypt since the beginning of the year<\/strong>, opening 16 new branches of its Al Borg and Al Mokhtabar laboratory brands during the first five months of the year, according to El Sherbini. As of April, it had 429 branches in Egypt<\/a> and a market share of more than 50% through its Al Borg and Al Mokhtabar brands.<\/p>\n

IDH is armed with fresh funding from the International Finance Corporation<\/strong>, which last month signed off on a USD 45 mn loan<\/a>, which it said it would use to finance expansion into new emerging markets. The LSE-listed company debuted 5% of its shares<\/a> on the EGX last month, completing the exchange\u2019s first-ever technical listing.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-focused e-commerce giant Jumia plans to invest over USD 590 mn in Egypt and other African countries over the upcoming years starting 2021, CEO Hesham Safwat told Enterprise. Safwat declined to reveal exactly what portion of the funds would be directed towards Egypt, but said that it is \u201cone of the top countries we\u2019re focusing […]<\/p>\n","protected":false},"author":1,"featured_media":562978,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[199,68,72,7115,4060,1406,125,592],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-562977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-e-commerce","tag-egx","tag-enterpriseam","tag-healthcare","tag-hesham-safwat","tag-integrated-diagnostics-holding","tag-investment-watch","tag-jumia","wpautop","entry"],"acf":{"mongo_id":"93e30c01-28ce-45f4-a65d-afe1f5b94b90","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/6\/180.jpg","photo_position":"above","related_issue":[562971],"teaser":"","voice_url":""},"yoast_head":"\nJumia flags Egypt as a top investment destination, looking at everything from digital payments to last-mile delivery - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/06\/14\/jumia-flags-egypt-as-a-top-investment-destination-looking-at-everything-from-digital-payments-to-last-mile-delivery\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jumia flags Egypt as a top investment destination, looking at everything from digital payments to last-mile delivery\" \/>\n<meta property=\"og:description\" content=\"Africa-focused e-commerce giant Jumia plans to invest over USD 590 mn in Egypt and other African countries over the upcoming years starting 2021, CEO Hesham Safwat told Enterprise. 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The tech hub will train a team of developers and engineers to offer technical support so that online payments through Jumia\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":645072,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/11\/jumia-expects-e-commerce-in-egypt-to-grow-to-usd-2-7-bn-in-2020\/","url_meta":{"origin":562977,"position":3},"title":"Jumia expects e-commerce in Egypt to grow to USD 2.7 bn in 2020","author":"enterpriseam admin","date":"11 July 2017","format":false,"excerpt":"Jumia is expecting e-commerce in Egypt to grow to USD 2.7 bn in 2020, according to Al Borsa. The number of Jumia customers who pay by cash decreased to 8% of total customers last year from 98% in 2012, CEO Hesham Safwat says. Market dynamics had played a crucial role\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":645149,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/12\/shipping-companies-hike-prices-for-e-commerce-platforms-by-50-jumia\/","url_meta":{"origin":562977,"position":4},"title":"Shipping companies hike prices for e-commerce platforms by 50%-Jumia","author":"enterpriseam admin","date":"12 July 2017","format":false,"excerpt":"Express shipping companies verbally informed e-commerce platforms last week that they would be raising their prices for customer deliveries by 50% after the recent fuel prices increases, Jumia CEO Hesham Safwat tells Al Mal. Official notice should be sent in a few days\u2019 time, but Jumia will not be passing\u2026","rel":"","context":"In "OTHER BUSINESS NEWS OF INTEREST"","block_context":{"text":"OTHER BUSINESS NEWS OF INTEREST","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-interest\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":604460,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/04\/jumia-black-friday-sales-jump-280-in-2018-compared-to-2017\/","url_meta":{"origin":562977,"position":5},"title":"Jumia Black Friday sales jump 280% in 2018 compared to 2017","author":"enterpriseam admin","date":"4 December 2018","format":false,"excerpt":"FACT OF THE MORNING- We love e-commerce. Jumia\u2019s Black Friday sales grew 280% this year compared to 2017, helping drive 180% sales growth at the platform this year, CEO Hesham Safwat told Enterprise. Top sellers this year included mobile phones, home appliances, beauty and baby products and fast-moving consumer goods,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=562977"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/562977\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/562971"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/562978"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=562977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=562977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=562977"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=562977"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=562977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}