World Bank Group Invests $25 Million in Jumia to Expand Africa’s Digital Commerce

World Bank Group Invests $25 Million in Jumia to Expand Africa’s Digital Commerce

• Targets 60,000 sellers, 1,800 direct jobs, 100,000 sales agents

• Funding to strengthen digital payments across 8 African markets

Emmanuel Addeh in Abuja and Sunday Ehigiator in Lagos

The International Finance Corporation (IFC), the private sector arm of the World Bank Group, has announced a $25 million equity investment in Jumia Technologies AG to support the expansion of digital commerce infrastructure across Africa.