Jumia Group recognized in the MIT Top 50 Smartest Companies of 2017

david nganga

July 11, 2017 4:51 PM

The E-Commerce site has been recognized in the list that features giant companies like Amazon,Facebook and Ali Baba among others.

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Africa's Jumia Group has for the second year in a row been listed in the Massachusetts Institute of Technology’s (MIT’s) 50 smartest companies, 2017.

The E-Commerce site was ranked 44th in the list that pits companies which combine innovative technology with an effective business model.

“Jumia Group is once more proud for the recognition of our persistence in fully harnessing Africa’s untapped digital potential. We believe that through technological innovations, we drive our commitment to inject feasible solutions into Africa’s economy,” says Jumia Group’s co-founder Sacha Poignonnec.

Jumia was recognized for being the continent’s first “unicorn” startup, valued at over $1 billion during a $327 million funding round that included Goldman Sachs among its investors.

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Now operating all its consumer Web services that include 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.

All this is aimed at unlocking the spending potential of an expanding middle class.

Estelle Verdier, the Chief Operating officer and Co-founder of Jumia Travel expressed her excitement towards the recognition.

She termed it as “an assurance of our devotion to make the impossibilities in Africa, such as providing affordable travel now possible through technology.”

MIT’s list of 50 smartest companies was first established in 2010 and has featured giant companies such as Amazon, Alibaba, Facebook, Microsoft, SpaceX, and Kenya’s off-grid solar operator M-Kopa.

david nganga