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Adjusted EBITDA loss decreased by 47.1% A decrease in average loss per order Transactions on JumiaPay, increased by 26.1% and 58% more costumers used the payment service for purchases on the platform. The not so good: Jumia’s financial report looks encouraging, until you compare it with its financial report for 2019. Annual Active Consumers (People who placed orders regardless of cancellation or returns) increased by 12%. In 2019, annual active consumers grew by 54%. Orders on Jumia dropped b...

Japan’s Uncovered Fund launches $15M fund to back early-stage startups in Africa Uncovered Fund, a VC firm targeting early-stage startups in Africa, announced today that it has launched its $15 million fund, which is expected to close at the end of June this year. The Tokyo-based outfit founded by Takuma Terakubo in 2019 will invest $50,000 to $500,000 in African startups in seed and Series A stages. Before Uncovered Fund, Terakubo was the CEO of Leapfrog Ventures. Together with Japanese ven...