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The company’s revenue declined in the fourth quarter (ended December 31, 2020) even though more than 1.5 billion consumers visited its page during a Black Friday event held in November 2020. It had also partnered with established companies including Standard Chartered (OTC:SCBFF) and Samsung (KS:005930), but this has not helped it generate significant revenues.
Given volatile markets in Africa currently, we think JMIA might need a significant time to recover its revenues.
