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African Online Retailer Jumia Targets Investment in Egypt

Jumia's e-commerce site. Shutterstock

Africa-focused e-commerce giant Jumia, commonly called “Africa’s Amazon”, plans to invest over $590 million in Egypt and other African countries starting this year, CEO Hesham Safwat told Egyptian media platform, Enterprise.

Safwat didn’t elaborate on what portion of the funds would be directed towards Egypt, but said that it is “one of the top countries we’re focusing on,” adding that Jumia Egypt will focus on investing in digital payments and other online services, including Jumia Mall and Jumia Food.

Jumia Egypt will increase its total number of pickup stations to 200 this July and increase its last-mile delivery stations by 40 percent. Other plans include increasing its warehouses and delivery capacity to improve its next-day delivery service.

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