Jumia elects new supervisory board targeting 2027 profitability

Jumia Technologies AG (NYSE: JMIA) announced the election of five supervisory board members at its annual general meeting held May 15, 2026. Shareholders elected Hassanein Hiridjee, Dr. Akinwumi Ayodeji Adesina and Benjamin T. Faw, and re-elected Jonathan D. Klein and Anne Ooga Eriksson to the board.

Dr. Adesina, former president of the African Development Bank Group from 2015 to 2025, expanded the institution's capital base from $93 billion to $318 billion during his tenure. He previously served as Nigeria's Minister of Agriculture and Rural Development, where he introduced a digital fertilizer supply system reaching 15 million smallholder farmers.

Hiridjee, who had been serving since September 2025, was formally elected by shareholders. He co-founded and leads Axian Group, a pan-African conglomerate operating across 21 countries in energy, digital banking, properties, financial services and telecommunications sectors.

Faw brings experience in marketing, operations and institutional investment, with a background in founding and advising e-commerce and technology companies. Klein continues as chairman, while Eriksson remains deputy chairperson and chairs the risk and audit committee.

The board changes accompany operational improvements at the pan-African e-commerce platform. Full-year 2025 gross merchandise value reached $818.6 million, while first-quarter 2026 GMV grew 31% year-over-year to $212.2 million and revenue increased 39% to $50.6 million.

Jumia targets adjusted EBITDA breakeven and positive cash flow in the fourth quarter of 2026, with full-year profitability and positive cash flow expected in 2027. The company operates across eight African countries, connecting approximately 70,000 sellers with customers through its marketplace and logistics network.

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