Jumia named among the 50 smart companies by MIT

By Jumia Travel Tanzania

For the second time in a row Jumia Group has been mentioned in the world’s top 50 smart companies by Massachusetts Institute of Technology (MIT) that combine innovative technology with an effective business model.

In that list which includes giant tech-companies in the world such as Apple, Amazon, Facebook and Alibaba, in 2017 Jumia has been listed on number 44 compared to 47 in 2016.

MIT has pointed out Jumia which was founded in 2012 as Africa Internet Group (AIG) that last spring became the continent’s first “unicorn” startup, valued at over $1 billion during a $327 million funding round that included Goldman Sachs among its investors.

Now operating all its consumer Web services—shopping, travel, food delivery, real estate, cars—under the Jumia name, the company is working to overcome the challenges of e-commerce in the region—clogged roadways, skeptical consumers, lack of Internet penetration in some market—to unlock the spending potential of an expanding middle class.

“Apart from various challenges encounter The continuous rate of internet users and penetration across the continent provides noble opportunities for untapped e-commerce sectors. For instance, in the hospitality report for Tanzania which we launched last week reveals that a remarkable number of Tanzanians are using internet through their mobile phones and computers to search and do bookings on Jumia Travel,” said Ms. Dharsee.

“The African continent is still the most promising to invest in, and our aim is to make sure we provide quality and affordable services regardless of customer’s income”, said Fatema Dharsee, the Country Manager for Jumia Travel Tanzania.

Every year MIT reveals the list of top 50 smart companies in the world that create new opportunities in technology which can be utilised in business operations. That list includes well-established tech-savvy companies such as Apple and Alphabet as well as the startup ones such as Jumia.

The companies which make in that whole list from the top to bottom are such as: Nvidia, SpaceX, Amazon, 23andMe, Alphabet, iFlytek, KitePharma, Tencent, Regeneron, Spark Therapeutics, Face++, FirstSolar, Intel, Quanergy Systems, Vestas Wind Systems, Apple, Merck, Carbon, Desktop Metal, Ionis Pharmaceuticals, Gamalon, Illumina, Facebook, Udacity, DJI, MercadoLibre, Microsoft, Rigetti Computing, Kindred Al, Sophia Genetics, Tesla, Oxford Nanopore, Foxconn, M-KOPA, ForAllSecure, FlipKart, BluebirdBio, Adidas, IBM, GeneralElectric, Alibaba, HTC, BluePrism, Jumia (Africa Internet Group), VeritasGenetics, Daimler, Salesforce, Snap, AntFinancial and Baidu.