JMIA Jumia Technologies AG

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1 Corporate information

The accompanying unaudited interim condensed consolidated financial statements and notes present the operations of Jumia Technologies AG (the “Company” or “Jumia Tech”) and its subsidiaries (the “Group” or “Jumia”).

The Company was incorporated as Africa Internet Holding GmbH on June 26, 2012, and was transformed into Jumia Technologies AG, a German stock corporation on January 31, 2019. The Company is domiciled in Germany and has its registered office located at Skalitzer Strasse 104, 10997 Berlin, Germany. The Group operates in e-commerce across the African continent.

In April 2019 Jumia Tech became a listed company on New York Stock Exchange (NYSE), with ticker symbol “JMIA”.

Jumia is the leading pan-African e-commerce platform. Jumia’s platform consists of a marketplace, which connects sellers with customers, a logistics service, which enables the shipping and delivery of packages from sellers to customers, and a payment service, which facilitates transactions among participants active on Jumia’s platform.

The Group has incurred significant losses since its incorporation. The Group expects to continue generating losses as it makes the necessary investments to grow and/or rebalance its business. The Group will therefore continue to require additional funding either from existing or new shareholders.

The interim condensed consolidated financial statements disclose all matters of which the Group is aware, and which are relevant to the Group’s ability to continue as a going concern, including all significant events and mitigating factors. Further details can be found in Note 31. The interim condensed consolidated financial statements have been prepared on a basis which assumes that the Group will continue as a going concern, and which contemplates the recoverability of assets and the satisfaction of the liabilities and commitments in the normal course of business. The Group has sufficient resources to operate as a going concern for the next 12 months.

2 Basis of preparation

These unaudited condensed interim consolidated financial statements for the quarterly reporting period ended June 30, 2024 have been prepared in accordance with International Financial Reporting Standards («IFRS») applicable to the preparation of interim financial statements, including International Accounting Standard («IAS») 34, Interim Financial Reporting, as issued by the International Accounting Standard Board («IASB»).

Our business is seasonal and, consequently, our results tend to fluctuate from quarter to quarter. However, the comparability of the Group's results and financial position of the interim period, is not significantly affected by the level of seasonality.

The interim report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the consolidated financial statements for the year ended December 31, 2023.

The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period, except for the adoption of the new standards effective as of January 1, 2024 (Note 4 a)).

The interim condensed consolidated financial statements are presented in US dollars and all values are rounded to the nearest thousand ($000), except when otherwise indicated.

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3 Significant changes in the current reporting period

The financial position and performance of the Group, during the six months ended June 30, 2024, was affected by Egypt and Nigeria currency fluctuations.

Both Egypt and Nigeria face significant macroeconomic challenges, further exacerbated by ongoing regional conflicts. In 2023, the Egyptian government, while seeking increased access to a support program, collaborated with the International Monetary Fund (IMF) to implement policies aimed at promoting exchange rate flexibility and enhancing economic resilience. This resulted in a devaluation of the Egyptian Pound (EGP). The EGP was allowed to float more freely on the market, aligning with IMF loan conditions. During Six months ended June 30, 2024, the accumulated devaluation of the EGP against the US Dollar (USD) was 55%.

Similarly, in June 2023, Nigeria experienced a significant devaluation of the Nigerian Naira (NGN) against the US Dollar following a policy shift by the Central Bank of Nigeria. They abandoned their previous system of multiple exchange rates and allowed the NGN to trade more freely on the foreign exchange market. In February 2024, there was a further devaluation as the methodology for calculating the official exchange rate was revised, bringing it closer to the freely traded rate. During the Six months ended June 30, 2024, the accumulated devaluation of the NGN against the US Dollar (USD) was 71%.

Changes in accounting policies, estimates and assumptions

There have been no material changes in the accounting policies and basis of consolidation adopted in prior periods. None of the standards and interpretations that have been adopted for the first time have had a material impact on the Group's accounting policies.

There have been no material revisions to the nature and amount of estimates and assumptions reported in prior periods. In view of the business activities in which the Group engages, transactions are not substantially cyclical or seasonal in nature. Therefore, no specific disclosures are included in this connection in the explanatory notes to the interim condensed consolidated financial statements.

4 New accounting pronouncements

a) New standards, interpretations and amendments adopted by the Group

During the current period the Group has adopted the following amendments, which have no material impacts on the Group’s interim consolidated financial statements.

•Amendments to IAS 1: Classification of Liabilities as Current or Non-Current

•Amendments to IFRS 16: Lease Liability in a Sale and Leaseback

•Amendments to IAS 1: Non-current Liabilities with Covenants

•Amendments to IAS 7 and IFRS 7: Supplier Finance Arrangements

b) Standards issued during the interim period but not yet effective in the interim condensed consolidated financial statements

IAS 21 ("The Effects of Changes in Foreign Exchange Rates") amendment on lack of exchangeability

On 15 August 2023, the IASB issued ‘The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability (Amendment to IAS 21)' that adds requirements for determining whether a currency can be exchanged for another currency (exchangeability) and defining how to determine the spot exchange rate to be used when it is not possible to exchange a currency for a long period of time. This change also requires the disclosure of information that allows understanding how the currency that cannot be exchanged for another currency affects, or is expected to affect, the financial performance, financial position and cash flows of the entity, in addition to the spot exchange rate used on the reporting date and how it was determined. The amendment is effective for annual reporting periods beginning on or after January 1, 2025.

The group does not expect a material impact upon adoption of this amendment.

Amendments IFRS 9 ("Financial Instruments") and IFRS 7 ("Financial Instruments: Disclosures") regarding the classification and measurement of financial instruments

On 30 May 2024, the IASB issued ‘Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7)'. These amendments intend to: i) clarify the date of recognition and derecognition of some financial assets and liabilities, with a new exception for some financial liabilities settled through an electronic cash transfer system; ii) clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal and interest (SPPI) criterion; iii) add new disclosure requirements for instruments with contractual conditions that can change cash flows, like those linked to ESG targets; and iv) update the disclosure requirements for equity instruments designated at fair value through other comprehensive income, separating the fair value reserve into the fair value gains or losses of the investments derecognised and those held at the end of the period. These amendments apply at the date they become effective without restating the comparatives. The amendments are effective for annual reporting periods beginning on or after January 1, 2026.

The group does not expect a material impact upon adoption of these amendments.

IFRS 18 Presentation and Disclosures in Financial Statements

On 9 April 2024, the IASB issued ‘IFRS 18 - Presentation and Disclosures in Financial Statements'. This new standard will replace the current IAS 1. While retaining many of the existing principles of IAS 1, it is focused on the specification of a structure for the statement of profit or loss, composed of categories and required subtotals. Items in the statement of profit or loss will be classified into one of three categories: operating, investing, financing. Specified subtotals and totals will be required being the main change the mandatory inclusion of the subtotal “Operating profit or loss”. This standard also includes improvements to the disclosure of management performance measures including the reconciliation with the most similar specified subtotal in IFRS Accounting standards. This standard also enhances guidance on the principles of aggregation and disaggregation of information in the financial statements and respective notes, based on their shared characteristics. This standard applies retrospectively. The standard is effective for annual reporting periods beginning on or after January 1, 2027.

The group is analyzing the potential impacts of adoption of this standard in the presentation of financial statements (in particular comprehensive income statement), and disclosures of management performance measures.

IFRS 19 Subsidiaries without Public Accountability: Disclosures

On 9 May 2024, the IASB issued ‘IFRS 19 Subsidiaries without Public Accountability: Disclosures'. This new standard is still subject to endorsement by the European Union. IFRS 19 is a voluntary standard which allows “Eligible” subsidiaries to use IFRS Accounting Standards with reduced disclosure requirements. IFRS 19 is a disclosure-only standard and works alongside other IFRS Accounting Standards for recognition, measurement, and presentation requirements. A subsidiary is “Eligible” if (i) it does not have public accountability; and (ii) has a parent that prepares consolidated financial statements available for public use that comply with IFRS Accounting Standards. IFRS 19 can be applied by “Eligible” subsidiaries when preparing their own consolidated, separate or individual financial statements. Complete comparative information needs to be prepared under IFRS 19 unless any exemption applies. The standard is effective for annual reporting periods beginning on or after January 1, 2027.

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5 Property and Equipment

Movements in the carrying amount of property and equipment were as follows:

In thousands of USD						Buildings						Technical equipment and machinery						Transportation equipment, office equipment and other equipment						Right of use assets - Office and Warehouse						Total
Cost
Balance as of December 31, 2023						2,483						5,263						18,524						20,593						46,863
Additions						139						418						408						6,547						7,512
Lease modifications						—						—						—						(2,803)						(2,803)
Disposals						(613)						(283)						(3,190)						—						(4,086)
Impairment						(111)						—						(126)						—						(237)
Effect of translation						(132)						(548)						(2,640)						(1,932)						(5,252)
Balance as of June 30, 2024						1,766						4,850						12,976						22,405						41,997
Accumulated depreciation
Balance as of December 31, 2023						(1,849)						(3,196)						(13,118)						(14,339)						(32,502)
Depreciation charge						(127)						(394)						(1,179)						(2,178)						(3,878)
Accumulated depreciation on disposals						586						158						2,952						—						3,696
Lease modifications						—						—						—						2,598						2,598
Effect of translation						84						259						1,771						824						2,938
Balance as of June 30, 2024						(1,306)						(3,173)						(9,574)						(13,095)						(27,148)
Carrying amount as of December 31, 2023						634						2,067						5,406						6,254						14,361
Carrying amount as of June 30, 2024						460						1,677						3,402						9,310						14,849

Set out below, are the carrying amounts of the Group’s right-of-use assets and lease liabilities and the movements during the period:

In thousands of USD						Right of use assets						Lease Liabilities
As of December 31, 2023						6,254						6,075
Additions						6,547						5,426
Depreciation						(2,178)						—
Interest expense						—						566
Lease modifications						(205)						(268)
Payments						—						(2,824)
Effect of translation						(1,108)						(726)
As of June 30, 2024						9,310						8,249

During the six months ended on June 30, 2024, the Group’s main additions on Right of use assets include new lease contracts for new warehouse facilities in Nigeria, Morocco, and Egypt as the new office facilities in China and Algeria. Lease modifications are mainly driven by the early termination of warehouse contracts in Egypt and Algeria and by the early termination of office contract in Nigeria. These effects are partially offset by the renewal of warehouse contracts in Senegal.

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6 Deferred Tax Assets and Liabilities

The Group records the tax effect resulting from temporary differences between the assets and liabilities determined on an accounting basis and on a tax basis.

The balance of the deferred tax assets and deferred tax liabilities, on a consolidated basis, is USD517 thousand as of June 30, 2024 (December 31, 2023: USD531 thousand), consisting of tax benefits to be used in future periods and USD1,381 thousand as of June 30, 2024 (December 31, 2023: USD204 thousand), comprised primarily of unrealized foreign exchange gains.

The variance of the tax effect described above impacted “Other reserves” by USD877 thousand, which relates to the fair value of financial assets measured at fair value through other comprehensive income, and “Income tax expense” by USD342 thousand, relating to remaining impacts.

As mentioned on the annual report, the offset between deferred tax assets and liabilities is performed at each subsidiary level.

7 Other non-current assets

As of June 30, 2024, other non-current assets were comprised of rent, trade, and other term deposits amounting to USD938 thousand (December 31, 2023: USD1,245 thousand), restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period, and other non-current assets amounting to USD41 thousand as of June 30, 2024 (December 31, 2023: USD44 thousand).

8 Inventories

Inventories are comprised of the following:

						As of
In thousands of USD						December 31, 2023						June 30, 2024
Merchandise available for sale						10,868						8,277
Less: Provision for slow moving and obsolete inventories						(1,169)						(1,038)
Total Inventories						9,699						7,239

The total cost of inventory, which consists primarily of the purchase price of customer products, recognized as an expense in the interim consolidated profit or loss for the six months ended June 30, 2024 was USD32,129 thousand. The total cost of revenue recognized as an expense in the interim consolidated profit or loss for the six months ended June 30, 2024 amounted to USD32,604 thousand and consists primarily of the cost of inventory.

The amount of write-down of inventories recognized in the consolidated profit or loss was USD575 thousand. The amount of reversal of write-down recognized as reduction in the amount of inventories recognized as an expense in the consolidated profit or loss was USD159 thousand. The reversal of write-down primarily arises from our ability to increase the net realizable value of certain inventory items through price increases, driving higher margins.

9 Cash and cash equivalents

Cash and cash equivalents are comprised of the following:

						As of
In thousands of USD						December 31, 2023						June 30, 2024
Cash at bank and in hand						29,367						41,800
Short-term deposits						6,116						3,257
Total Cash and cash equivalents						35,483						45,057

Cash at banks earns interest at floating rates based on daily bank deposit rates. Short-term deposits are made for varying periods, depending on the immediate cash requirements of the Group, and earn interest at the respective short-term deposit rates.

The Group has no restricted cash presented in cash and cash equivalents as of June 30, 2024 (December 31, 2023: none).

While cash and cash equivalents are also subject to the impairment requirements of IFRS 9 ("Financial Instruments"), the identified expected credit loss was immaterial, due to low credit risk rating of the financial institutions.

10 Term deposits and other financial assets

Term deposits and other financial assets are comprised of the following:

						As of
In thousands of USD						December 31, 2023						June 30, 2024
Financial assets at fair value through OCI						84,023						46,782
Short term deposits - banks						1,065						965
Term Deposits and other financial assets						85,088						47,747

Deposits represent interest bearing deposits with a commercial bank for a fixed period of more than 3 months.

Other financial assets comprised the following:

						As of
In thousands of USD						December 31, 2023						June 30, 2024
Current financial assets measured at fair value through other comprehensive income						84,023						46,782
Other financial assets – current						84,023						46,782

Financial assets measured at fair value through other comprehensive income comprise investments in listed investment grade bonds, via a discretionary account managed by Citi Private Bank, with the objective of maintaining capital and obtaining benchmark yields. The Group holds these investments under a “hold to collect and sell” business model as defined under IFRS 9. Interest income from financial assets at fair value through OCI are disclosed in Note 26. The reduction in the amount of the assets occurred throughout the six months ended June 30, 2024, is explained by the sale of listed investment grade bonds and the fair value loss.

Financial assets measured at fair value through profit or loss comprise investments in securities, with the objective of obtaining returns in line with specific market benchmarks. Fair value variances are disclosed in Note 26.

Other financial assets are presented as current whenever maturity of the investments is within 12 months of the reporting date or if management expects to sell the asset within 12 months.

Fair value reserve

The movement in the fair value reserve for financial assets at fair value through other comprehensive income (“FVOCI”), including the allowance for expected credit losses (“ECL”), is as follows:

11 Trade and other receivables

Trade and other receivables are comprised of the following:

						As of
In thousands of USD						December 31, 2023						June 30, 2024
Advances to suppliers						2,667						3,934
Trade notes and accounts receivable						16,357						12,125
Unbilled revenues						6,786						573
Other receivables						2,448						1,372
						28,258						18,004
Less: Allowance for expected credit loss						(5,101)						(3,877)
Trade and other receivables						23,157						14,127

Allowance for expected credit losses

The movement of allowance for expected credit losses (“ECL”) of trade and other receivables is as follows:

In thousands of USD						ECL of trade and other receivables
Balance as of December 31, 2023						5,101
Provision for expected credit losses						(76)
Write-off						(726)
Effect of translation						(422)
Balance as of June 30, 2024						3,877

12 Prepaid expenses

As of June 30, 2024, prepaid expenses were comprised of prepaid server hosting fees and software licenses of USD4,129 thousand (December 31, 2023: USD5,155 thousand), prepaid rent of USD367 thousand (December 31, 2023: USD2,550 thousand), prepaid insurance of USD2,396 thousand (December 31, 2023: USD1,064 thousand) and advance payments to the Group’s partners for online payment services amounting to USD89 thousand (December 31, 2023:

USD364 thousand). The remaining amount of USD484 thousand (December 31, 2023: USD337 thousand) relates to other goods and services, namely travel and entertainment and professional fees.

13 Share capital and share premium

Ordinary shares issued and fully paid as of June 30, 2024

Number of shares						Class						Par value (EUR)						Share capital (in thousands of USD)						Share premium (in thousands of USD)						Total
204,470,178						Ordinary						1						239,163						1,736,469						1,975,632
Total												1						239,163						1,736,469						1,975,632

The total issued number of ordinary shares is 204,470,178 shares as of June 30, 2024 with a par value of EUR 1.00 per share. All issued ordinary shares are fully paid. Each ordinary share carries one vote.

During six months ended June 30, 2024, 2,192,812 shares were issued, all fully paid, relating to the settlement of different equity programs of the company. Related transaction costs of USD32 thousand are recognized directly in the accumulated losses.

Ordinary shares issued and fully paid as of December 31, 2023

Number of shares						Class						Par value (EUR)						Share capital (in thousands of USD)						Share premium (in thousands of USD)						Total
202,277,366						Ordinary						1						236,800						1,736,469						1,973,269
Total												1						236,800						1,736,469						1,973,269

The total issued number of ordinary shares is 202,277,366 shares as of December 31, 2023 with a par value of EUR 1.00 per share. All issued ordinary shares are fully paid. Each ordinary share carries one vote.

During 2023, 1,044,806 shares were issued, all fully paid, relating to the settlement of different equity programs of the company. Related transaction costs of USD24 thousand are recognized directly in the accumulated losses.

14 Other Reserves

In thousands of USD						Share-based payment capital reserves						Exchange difference on net investment in foreign operations						Fair value reserve of financial assets at FVOCI						Currency translation adjustment						Total other reserves
As of December 31, 2023						188,249						(576,733)						(5,820)						555,033						160,729
Other comprehensive (loss) / income						—						(190,348)						3,152						202,626						15,430
Total comprehensive (loss) / income for the period						—						(190,348)						3,152						202,626						15,430
Share-based payments						3,560						—						—						—						3,560
Exercise of options						(2,361)						—						—						—						(2,361)
As of June 30, 2024						189,448						(767,081)						(2,668)						757,659						177,358

15 Share-based compensation

There were no new share-based compensation plans adopted during the Six months ended June 30, 2024.

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16 Trade and other payables

Trade and other payables are comprised of the following:

						As of
In thousands of USD						December 31, 2023						June 30, 2024
Trade payables						20,780						19,285
Invoices not yet received						15,246						11,962
Accrued employee benefit costs						9,191						8,569
Share-based compensation - Cash settled payable						206						310
Trade Deposits						730						617
Sundry accruals						9,397						7,744
Trade and Other Payables						55,550						48,487
Current						55,425						48,432
Non-current						125						55

Sundry accruals relate principally to IT, consulting and marketing.

17 Borrowings

Lease liabilities are presented in the statement of financial position as follows:

						As of
In thousands of USD						December 31, 2023						June 30, 2024
Current						3,718						2,725
Non-current						2,357						5,524
Total Lease liabilities						6,075						8,249

Set out below is the maturity of the lease liabilities classified as non-current:

In thousands of USD

One to five years

More than five years

Total

Lease liability future payments

5,524

—

5,524

The Group has several lease contracts that include extension and termination options. Whenever the contracts do not include a mutual agreement clause, the Group applies judgement in evaluating whether it is reasonably certain whether or not to exercise the option to renew or terminate the lease.

Changes in liabilities arising from financing activities

In thousands of USD						December 31, 2023						Additions and modifications						Payments						Reclassification						Effect of translation						June 30, 2024
Current lease liabilities						3,718						1,208						(2,824)						838						(215)						2,725
Non-current lease liabilities						2,357						4,516						—						(838)						(511)						5,524
Total liabilities from financing activities						6,075						5,724						(2,824)						—						(726)						8,249

Additions and modifications include USD566 thousand of accrued interest.

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18 Other taxes receivable & Other taxes payable

Other taxes receivable are comprised of the following:

						As of
In thousands of USD						December 31, 2023						June 30, 2024
Value added taxes						8,785						8,450
Other taxes receivable						79						11
Other taxes receivable						8,864						8,461
Current						4,143						4,354
Non-Current						4,721						4,107

Other taxes payable are comprised of the following:

						As of
In thousands of USD						December 31, 2023						June 30, 2024
Value added taxes						10,106						9,519
Withholding Tax						11,840						11,921
Other taxes payable						1,980						506
Other taxes payable						23,926						21,946
Current						23,452						21,084
Non-Current						474						862

19 Provisions for liabilities and other charges

Movements in provisions for liabilities and other charges are as follows:

In thousands of USD						Uncertain tax positions						Marketplace and consignment goods						Provision for other expenses						Total
Balance as of December 31, 2023						15,288						454						3,191						18,933
Additions						277						—						425						702
Reversals						(875)						(49)						(59)						(983)
Use of provision						(1,324)						—						—						(1,324)
Effect of translation						(1,731)						(97)						(285)						(2,113)
Balance as of June 30, 2024						11,635						308						3,272						15,215
Current						11,635						308						2,818						14,761
Non-current						—						—						454						454

Uncertain tax positions

Uncertain tax positions includes provisions related to VAT for USD1,880 thousand (December 31, 2023: USD3,253 thousand), provisions related to Withholding Tax (WHT) for USD9,117 thousand (December 31, 2023: USD10,758 thousand) and provisions related to other taxes for USD638 thousand (December 31, 2023: USD1,277 thousand). The use of provision pertained to the settlement of tax audits. Provision is calculated based on the detailed review of uncertain tax positions completed by management across the group and in consideration of the probability of a liability arising, within the applicable statute of limitations. These provisions are expected to be utilized or released as a result of the regular tax audits in the Countries where the Group operates.

Marketplace and consignment goods

The provision for marketplace and consignment goods relates to the lost and damaged items, which are to be reimbursed to the sellers. The provision is calculated based on the detailed review of these items, and it is expected that these costs will be incurred in the next financial year.

Provision for other expenses

The provision for other expenses includes the end-of-service gratuity provision of USD454 thousand (December 31, 2023: USD631 thousand) and various litigation and penalty provisions of USD2,818 thousand (December 31, 2023: USD2,561 thousand). The provisions are calculated based on our best estimate considering past experience. Subsequent to the reporting date, USD1.8 million of the provisions were utilized to settle a claim by a regulatory authority.

20 Deferred income

As of June 30, 2024 deferred income included contract liabilities related to payments received from customers in advance for goods that have been ordered but are not yet delivered amounting to USD14,943 thousand (December 31, 2023: USD2,712 thousand), variable consideration deferred amounting to USD1,231 thousand (December 31, 2023: nil) and USD186 thousand (December 31, 2023: USD390 thousand) related to a depositary fee from BNY Mellon, deferred over the course of 5 years which will end in 2024.

21 Revenue

Revenue is comprised of the following:

						For the three months ended June 30												For the six months ended June 30
In thousands of USD						2023						2024						2023						2024
First-party sales						21,129						16,110						38,497						38,541
Commissions						9,158						10,246						18,900						27,505
Fulfillment						4,569						3,788						9,402						7,435
Value added services						4,879						3,575						11,057						7,085
Marketing and advertising						3,691						2,437						6,290						3,892
Other revenue						606						318						1,135						909
Revenue						44,032						36,474						85,281						85,367

Our primary sources of revenue are first-party sales and commissions, fulfillment and value added services from third-party sales.

Revenue remained stable at USD85,367 thousand in the six months ended June 30, 2024 compared to USD85,281 thousand in the six months ended June 30, 2023, driven by higher third-party commissions in corporate sales to local and regional retailers, distributors and other corporate buyers, primarily in Egypt, partially offset by the impact of foreign exchange fluctuations, in particular the Nigerian Naira and the Egyptian Pound depreciation.

As previously disclosed in the annual consolidated financial statements, the Group had one operating and reportable segment. The chief operating decision maker, comprised of the CEO and the Executive Vice President, Finance & Operations, makes decisions as to how to allocate resources based on the long-term growth potential of the Group as determined by market research, growth potential in regions, and various internal key performance indicators.

No single customer accounted for more than 10% of Group revenues for the six months ended June 30, 2024 and 2023.

The Group’s geographical distribution of revenue was as follows:

Revenue						For the three months ended June 30												For the six months ended June 30
In thousands of USD						2023						2024						2023						2024
West Africa(1)						20,621						17,121						40,907						36,114
North Africa(2)						17,133						13,089						32,028						38,346
East and South Africa(3)						6,078						6,208						11,827						10,671
Europe(4)						13						16						1						186
United Arab Emirates						187						32						514						34
Others						—						8						4						16
Total						44,032						36,474						85,281						85,367

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(1)West Africa covers Nigeria, Ivory Coast, Senegal and Ghana.

(2)North Africa covers Egypt, Tunisia, Morocco and Algeria.

(3)East and South Africa covers Kenya, Uganda and South Africa.

(4)Germany.

22 Fulfillment expense

Fulfillment expense is comprised of the following:

						For the three months ended June 30												For the six months ended June 30
In thousands of USD						2023						2024						2023						2024
Fulfillment staff costs						3,274						2,543						6,882						5,601
Fulfillment centers expense						774						551						1,586						918
Freight and shipping expense						6,564						6,228						13,961						12,181
Fulfillment expense						10,612						9,322						22,429						18,700

23 Sales and advertising expense

Sales and advertising expense is comprised of the following:

						For the three months ended June 30												For the six months ended June 30
In thousands of USD						2023						2024						2023						2024
Staff costs						1,830						1,359						3,760						2,887
Advertising campaigns						3,217						2,659						6,211						4,473
Selling expenses						425						405						840						805
Sales and advertising expense						5,472						4,423						10,811						8,165

Sales and advertising expense decreased by 24.5% from USD10,811 thousand in the six months ended June 30, 2023 to USD8,165 thousand in the six months ended June 30, 2024, as we continue our efforts to grow orders through supply enhancements rather than increased marketing expenditure.

---

24 Technology and content expense

Technology and content expense is comprised of the following:

						For the three months ended June 30												For the six months ended June 30
In thousands of USD						2023						2024						2023						2024
Staff Costs						4,660						3,112						9,828						6,961
Technology license and maintenance expenses						6,035						5,610						12,050						10,870
Technology and content expense						10,695						8,722						21,878						17,831

Technology and content expense decreased by 18.5% from USD21,878 thousand in the six months ended June 30, 2023 to USD17,831 thousand in the six months ended June 30, 2024, driven by savings achieved through better management of hosting infrastructure, operational tools, and reductions in overhead.

25 General and administrative expense

General and administrative expense

General and administrative expense is comprised of the following:

						For the three months ended June 30												For the six months ended June 30
In thousands of USD						2023						2024						2023						2024
Staff Costs						10,816						9,581						23,169						20,488
Occupancy Costs						547						352						1,065						740
Professional fees						2,682						2,808						5,079						4,949
Travel and entertainment						462						498						952						1,061
Office and related expenses						1,698						1,079						3,486						2,195
Bank fees & payment costs						115						140						297						322
Bad debt expense						5						(15)						(216)						(32)
Tax expense / (reversal)						(1,580)						1,587						2,234						986
Depreciation and amortization						2,608						2,033						5,436						3,914
Other general and administrative expense						1,174						1,145						2,187						2,037
General and administrative expense						18,527						19,208						43,689						36,660

For the six months ended June 30, 2024, staff costs expense includes share options and stock units granted to eligible employees of USD3,806 thousand (For the six months ended June 30, 2023: USD2,252 thousand).

For the six months ended June 30, 2024, other general and administrative expense includes USD1,554 thousand (For the six months ended June 30, 2023: USD1,876 thousand) for insurance premiums.

---

26 Finance income and finance costs

Finance income and finance costs comprise of the following:

						For the three months ended June 30												For the six months ended June 30
In thousands of USD						2023						2024						2023						2024
Foreign exchange gain / (loss)						1,682						(86)						3,333						650
Interest and similar income						490						286						762						524
Interest income from financial assets at fair value through OCI						712						142						1,625						584
Fair value gain on financial assets at fair value through profit or loss						—						—						237						—
Other income						11						349						55						226
Finance income						2,895						691						6,012						1,984
Foreign exchange loss						9,866						94						13,459						14,095
Interest and similar expense						279						439						630						1,932
Fair value loss on financial assets at fair value through profit and loss						—						65						—						16,163
Loss recognized on disposal of debt instruments held at fair value through OCI (Note 10)						1,372						2,196						1,372						3,427
Other charges						172						155						157						(73)
Finance costs						11,689						2,949						15,618						35,544

For the six months ended June 30, 2024, financial assets measured at fair value through profit or loss included investments in securities (Note 10). These financial assets incurred a fair value loss of USD16,163 thousand (For the six months ended June 30, 2023: nil ) realized upon sale, along with transaction costs of USD1,372 thousand (For the six months ended June 30, 2023: nil) recognized under interest and similar expense. These financial assets were fully disposed of in the six months ended June 30, 2024.

Interest income from financial assets at fair value through OCI includes the interest measured and recognized according to effective interest rate method and amounts to USD584 thousand in the six months ended June 30, 2024 (For the six months ended June 30, 2023: USD1,625 thousand).

27 Income tax

Income tax payables and receivables are comprised of the following:

						As of
In thousands of USD						December 31, 2023						June 30, 2024
Income Tax Prepayments						2,000						2,486
Total Income tax receivables						2,000						2,486
Income Tax Payables						547						221
Provision for Income Tax						12,880						12,031
Total Income tax payables						13,427						12,252

Income tax benefit / (expense) is comprised of the following:

						For the three months ended June 30												For the six months ended June 30
In thousands of USD						2023						2024						2023						2024
Current tax (expense) / benefit						(381)						(31)						(1,729)						(204)
Deferred tax (expense) / benefit						550						507						1,799						(342)
Total Income tax (expense) / benefit						169						476						70						(546)

---

28 Earnings per share

The following table reflects the loss and share data used in the basic and diluted EPS calculations from continuous operations:

						For the three months ended June 30												For the six months ended June 30
In thousands of USD						2023						2024						2023						2024
Numerator
Loss for the period from continuing operations						(30,690)						(22,012)						(60,031)						(62,669)
Less: net loss attributable to non-controlling interest from continuing operations						(14)						(8)						(23)						(15)
Loss attributable to Equity of the Company from continuing operations						(30,676)						(22,004)						(60,008)						(62,654)
Denominator
Weighted average number of shares for basic and diluted EPS						201,348,650						203,688,733						201,290,284						202,988,661
Loss per share from continuing operations - basic and diluted						(0.15)						(0.11)						(0.30)						(0.31)

The following table reflects the loss and share data used in the basic and diluted EPS calculations from discontinued operations:

						For the three months ended June 30												For the six months ended June 30
In thousands of USD						2023						2024						2023						2024
Numerator
Loss for the period from discontinued operations						(1,201)						—						(3,629)						—
Loss attributable to Equity of the Company from discontinued operations						(1,201)						—						(3,629)						—
Denominator
Weighted average number of shares for basic and diluted EPS						201,348,650						203,688,733						201,290,284						202,988,661
Loss per share from discontinued operations - basic and diluted						(0.01)						—						(0.02)						—

The following table reflects the loss and share data used in the basic and diluted EPS calculations:

						For the three months ended June 30												For the six months ended June 30
In thousands of USD						2023						2024						2023						2024
Numerator
Loss for the period						(31,891)						(22,012)						(63,660)						(62,669)
Less: net loss attributable to non-controlling interest						(14)						(8)						(23)						(15)
Loss attributable to Equity of the Company						(31,877)						(22,004)						(63,637)						(62,654)
Denominator
Weighted average number of shares for basic and diluted EPS						201,348,650						203,688,733						201,290,284						202,988,661
Loss per share - basic and diluted						(0.16)						(0.11)						(0.32)						(0.31)

---

29 Transactions and balances with related parties

Transactions with Key management

Key management includes the senior executives. The compensation paid or payable to key management for employee services is shown below:

						For the three months ended June 30												For the six months ended June 30
In thousands of USD						2023						2024						2023						2024
Short-term employee benefits						765						945						1,576						1,757
Other benefits						14						15						48						30
Share-based compensation						326						453						792						1,162
Total						1,105						1,413						2,416						2,949

30 Fair Values of Financial Instruments

Financial instruments comprise of financial assets and financial liabilities. Financial assets consist of term deposits and other financial assets, cash and cash equivalents and trade and other receivables. Financial liabilities consist of borrowings and trade and other payables.

Management considers that the carrying amounts of financial assets measured at amortized cost, and financial liabilities in the financial statements approximate their fair values, due to their short term maturities.

Financial investments measured at fair value

As of June 30, 2024 other financial assets were measured using as inputs quoted prices in an active market, corresponding to the Level 1 of the fair value hierarchy of IFRS 13.

When transfers into and out of fair value hierarchy levels are required, it is the Group's policy to transfer the amounts at the end of the reporting period.

Amounts of other financial assets corresponding to the Level 1 of the fair value hierarchy are transferred to Level 2 when quoted prices cease to be available. Level 2 measurements of fair value are determined by maximizing the use of market data other than the quoted price, such as interest rate yield curves and publicly available credit ratings. Conversely, amounts of other financial assets corresponding to the Level 2 are transferred to Level 1 when quoted prices become available.

31 Financial risk management

Market risk

Foreign currency risk

Due to its international business activities, the Group is exposed to the risk of changes in foreign exchange rates in connection with trade payables and trade receivables resulting from purchase and sales transactions denominated in a different currency from the functional currency of the respective operation as well as intercompany financing. However, the Group maintains a natural hedge across most of the Group’s cash flows as the Group’s revenue streams are generated in local currencies matched by Group’s costs mostly incurred in the respective local currencies, limiting the risk of foreign currency exposure.

In respect of currency risk, management sets limits on the level of exposure by currency and in total. The positions are monitored monthly. The Group does not use derivatives as hedging instruments to limit its exposure from foreign currency risks.

Interest rate risk

The Group has invested excess cash in financial instruments such as listed investment grade bonds pursuant to its cash management strategy, as discussed in Note 10. Changes in the interest rate curve will affect the fair value and/or cash flows of the listed investment grade bonds.

In respect of interest rate risk, management monitors the change in interest rates. The Group does not use derivatives as hedging instruments to limit its exposure from interest rate risks.

As of June 30, 2024, the listed investment grade bonds held by the Group are fixed-rate instruments.

Credit risk

Trade receivables

As of June 30, 2024, the Group has as an allowance for uncollectible receivables of USD3,877 thousand (December 31, 2023: USD5,101 thousand) as set out in the Note 11.

The Group evaluates the concentration of risk with respect to trade receivables and contract assets as low, as its customers are located in several jurisdictions and industries and operate in largely independent markets.

Cash deposits

The expected credit losses (“ECL”) from cash and cash equivalents, are estimated by the Group as immaterial as of June 30, 2024, due to ratings of the financial institutions that indicate low credit risk.

Other financial assets

The Group’s maximum exposure to credit risk for other financial assets of June 30, 2024 is the respective carrying amount.

As of June 30, 2024, all of the Group’s debt investments measured at fair value through other comprehensive income are considered to have low credit risk (stage 1 of the 3-stage model), and the loss allowance recognized during the period was therefore limited to expected credit losses for 12 months. Management considers ‘low credit risk’ for listed bonds to be an investment grade credit rating by a major rating agency. The Group considers that credit risk increases significantly if the credit rating deteriorates to a non-investment grade rating.

The probability of default (PD) and loss given default (LGD) are determined for the investments on an individual basis, using available public corporate PD and LGD assessments of the securities performed by credit rating agencies, which incorporate both historical and forward-looking information, according to market standards. Forward-looking information includes credit rating outlooks and economic forecast measured using country GDP and CDS.

Liquidity risk

As all funding has been exclusively obtained from the shareholders and there are no external borrowings, the Group does not incur an interest rate risk in this regard.

32 Commitments and contingencies

Tax contingencies

The Group has contingent liabilities related to potential tax claims arising in the ordinary course of business.

As of June 30, 2024, there are ongoing tax audits in various countries. Some of these tax inquiries have resulted in re-assessments, whilst others are still at an early stage and no re-assessment has yet been raised. Management is required to make estimates and judgments about the ultimate outcome of these investigations or litigation in determining legal provisions. Final claims or court rulings may differ from management estimates. In addition, Management is required to make estimates and judgements about the ultimate outcome of other tax risks that have not led to an investigation or litigation but that, based on Management’s own assessment, may lead to potential tax claims.

As of June 30, 2024, the Group has accruals for net tax provisions (excluding Uncertainty over Income Tax payables in accordance with IFRIC 23 interpretation) in the amount of USD11,635 thousand (December 31, 2023: USD15,288 thousand) as a result of the assessment of potential exposures due to uncertain tax positions as well as pending and resolved matters with the relevant tax authorities (Note 19). Additionally, as of June 30, 2024 Uncertainty over Income Tax payables in accordance with IFRIC 23 interpretation amounts to USD12,031 thousand (December 31, 2023: USD12,880 thousand)

In addition to the above tax risks, in common with other international groups, the conflict between the Group’s international operating model, the jurisdictional approach of tax authorities and some domestic tax requirements in relation to withholding tax and VAT compliance and recoverability rules, could lead to a further USD21,403 thousand in additional uncertainty on tax positions. The likelihood of future economic outflows with regard to these potential tax claims is however considered as only possible, but not probable. Accordingly, no provision for a liability has been made in these consolidated financial statements.

The Group may also be subject to other tax claims for which the risk of future economic outflows is currently evaluated to be remote.

Commitments

The Group has committed to allocate USD12.5 million to a service supplier by November 2024 and USD13.0 million by November 2025. As of June 30, 2024, USD1.7 million has already been paid.

33 Subsequent events

Management has not identified events occurred after June 30, 2024, for which, due to their materiality, additional disclosure in the Notes to the unaudited interim condensed financial statements is required.

---

---

v3.24.2.u1

Cover	6 Months Ended
	Jun. 30, 2024
Cover [Abstract]
Document Type	6-K
Document Period End Date	Jun. 30, 2024
Entity Registrant Name	Jumia Technologies AG
Entity Central Index Key	0001756708
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Amendment Flag	false

v3.24.2.u1

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Non-current assets
Property and equipment	$ 14,849	$ 14,361
Deferred tax assets	517	531
Other taxes receivable	4,107	4,721
Other non-current assets	979	1,289
Total Non-current assets	20,452	20,902
Current assets
Inventories	7,239	9,699
Trade and other receivables	14,127	23,157
Income tax receivables	2,486	2,000
Other taxes receivable	4,354	4,143
Prepaid expenses	7,465	9,470
Term deposits and other financial assets	47,747	85,088
Cash and cash equivalents	45,057	35,483
Total Current assets	128,475	169,040
Total Assets	148,927	189,942
Equity
Share capital	239,163	236,800
Share premium	1,736,469	1,736,469
Other reserves	177,358	160,729
Accumulated losses	(2,127,440)	(2,064,763)
Equity attributable to the equity holders of the Company	25,550	69,235
Non-controlling interests	(513)	(511)
Total Equity	25,037	68,724
Non-current liabilities
Non-current borrowings	5,524	2,357
Trade and other payables	55	125
Deferred tax liabilities	1,381	204
Other taxes payable	862	474
Provisions for liabilities and other charges	454	514
Total Non-current liabilities	8,276	3,674
Current liabilities
Current borrowings	2,725	3,718
Trade and other payables	48,432	55,425
Income tax payables	12,252	13,427
Other taxes payable	21,084	23,452
Provisions for liabilities and other charges	14,761	18,420
Deferred income	16,360	3,102
Total Current liabilities	115,614	117,544
Total Liabilities	123,890	121,218
Total Equity and Liabilities	$ 148,927	$ 189,942

v3.24.2.u1

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of comprehensive income [abstract]
Revenue	$ 36,474	$ 44,032	$ 85,367	$ 85,281
Cost of revenue	(14,895)	(21,141)	(32,604)	(37,483)
Gross profit	21,579	22,891	52,763	47,798
Fulfillment expense	(9,322)	(10,612)	(18,700)	(22,429)
Sales and advertising expense	(4,423)	(5,472)	(8,165)	(10,811)
Technology and content expense	(8,722)	(10,695)	(17,831)	(21,878)
General and administrative expense	(19,208)	(18,527)	(36,660)	(43,689)
Other operating income	223	368	473	578
Other operating expense	(357)	(18)	(443)	(64)
Operating loss	(20,230)	(22,065)	(28,563)	(50,495)
Finance income	691	2,895	1,984	6,012
Finance costs	(2,949)	(11,689)	(35,544)	(15,618)
Loss before Income tax from continuing operations	(22,488)	(30,859)	(62,123)	(60,101)
Income tax benefit / (expense)	476	169	(546)	70
Loss for the period from continuing operations	(22,012)	(30,690)	(62,669)	(60,031)
Loss after Income tax for the period from discontinued operations	0	(1,201)	0	(3,629)
Loss for the period	(22,012)	(31,891)	(62,669)	(63,660)
Attributable to:
Equity holders of the Company	(22,004)	(31,877)	(62,654)	(63,637)
from continuing operations	(22,004)	(30,676)	(62,654)	(60,008)
from discontinued operations	0	(1,201)	0	(3,629)
Non-controlling interests	(8)	(14)	(15)	(23)
from continuing operations	(8)	(14)	(15)	(23)
Loss for the period	(22,012)	(31,891)	(62,669)	(63,660)
Other comprehensive loss that may be classified to profit or loss in subsequent periods
Exchange differences gain / (loss) on translation of foreign operations	33,105	120,415	202,778	179,881
Other comprehensive loss on net investment in foreign operations	(31,903)	(127,027)	(190,487)	(187,389)
Other comprehensive income / (loss) on financial assets at fair value through OCI	1,771	366	3,152	619
Other comprehensive income / (loss)	2,973	(6,246)	15,443	(6,889)
Total comprehensive loss for the period	(19,039)	(38,137)	(47,226)	(70,549)
Attributable to:
Equity holders of the Company	(19,035)	(38,118)	(47,224)	(70,515)
Non-controlling interests	(4)	(19)	(2)	(34)
Total comprehensive loss for the period	$ (19,039)	$ (38,137)	$ (47,226)	$ (70,549)
Earnings per share (EPS) from continuing operations in USD:
Basic Loss for the period attributable to ordinary equity holders of the parent (in dollars per share)	$ (0.11)	$ (0.15)	$ (0.31)	$ (0.30)
Diluted Loss for the period attributable to ordinary equity holders of the parent (in dollars per share)	(0.11)	(0.15)	(0.31)	(0.30)
Earnings per share (EPS) from discontinued operations in USD:
Basic Loss for the period attributable to ordinary equity holders of the parent (in dollars per share)	0	(0.01)	0	(0.02)
Diluted Loss for the period attributable to ordinary equity holders of the parent (in dollars per share)	0	(0.01)	0	(0.02)
Earnings per share (EPS) in USD:
Basic Loss for the period attributable to ordinary equity holders of the parent (in dollars per share)	(0.11)	(0.16)	(0.31)	(0.32)
Diluted Loss for the period attributable to ordinary equity holders of the parent (in dollars per share)	$ (0.11)	$ (0.16)	$ (0.31)	$ (0.32)

v3.24.2.u1

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Share Capital	Share premium	Accumulated losses	Other reserves	Total	Non- controlling interests
Beginning balance at Dec. 31, 2022	$ 174,249	$ 235,659	$ 1,736,469	$ (1,960,584)	$ 163,174	$ 174,718	$ (469)
Loss for the period	(63,660)			(63,637)		(63,637)	(23)
Other comprehensive loss	(6,889)				(6,878)	(6,878)	(11)
Total comprehensive loss for the period	(70,549)			(63,637)	(6,878)	(70,515)	(34)
Capital contribution (Note 13)	0	1,141			(1,141)	0
Share-based payments (Note 15)	2,150				2,151	2,151	(1)
Change in Non-controlling interests	(8)			(8)		(8)
Ending balance at Jun. 30, 2023	105,842	236,800	1,736,469	(2,024,229)	157,306	106,346	(504)
Beginning balance at Dec. 31, 2023	68,724	236,800	1,736,469	(2,064,763)	160,729	69,235	(511)
Loss for the period	(62,669)			(62,654)		(62,654)	(15)
Other comprehensive loss	15,443				15,430	15,430	13
Total comprehensive loss for the period	(47,226)			(62,654)	15,430	(47,224)	(2)
Stock units issued	2	2,363			(2,361)	2
Share-based payments (Note 15)	3,560				3,560	3,560
Equity transaction costs (Note 13)	(32)			(32)		(32)
Change in Non-controlling interests	9			9		9
Ending balance at Jun. 30, 2024	$ 25,037	$ 239,163	$ 1,736,469	$ (2,127,440)	$ 177,358	$ 25,550	$ (513)

v3.24.2.u1

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities
Loss before Income tax from continuing operations	$ (22,488)	$ (30,859)	$ (62,123)	$ (60,101)
Loss before Income tax from discontinued operations	0	(1,201)	0	(3,629)
Loss before Income tax	(22,488)	(32,060)	(62,123)	(63,730)
Depreciation and amortization of tangible and intangible assets	2,238	2,641	4,119	5,511
Impairment losses / (reversals) on loans, receivables and other assets	(8)	(101)	(76)	6
Impairment losses on obsolete inventories	40	233	200	347
Share-based payment expense	1,650	1,302	3,806	2,252
Net (gain) / loss from disposal of tangible and intangible assets	352	(2)	307	(14)
Change in provision for liabilities and other charges	350	(4,062)	(1,605)	(3,612)
Lease modification (income)/expense	(67)	(21)	(72)	9
Interest (income) / expense	11	(923)	824	(1,757)
Discounting effect (income) / expense	(87)	141	(206)	56
Net foreign exchange loss	646	8,644	13,939	10,816
Net (gain) / loss on financial instruments at fair value through profit or loss	65	0	16,163	(237)
Impairment reversals on financial assets at fair value through OCI	(17)	(7)	(17)	(7)
Net loss recognized on disposal of debt instruments held at fair value through OCI	2,196	1,372	3,427	1,372
Share-based payment expense - settlement	(14)	(64)	(142)	(248)
Decrease in trade and other receivables, prepaid expenses and other tax receivables	1,081	417	5,017	3,494
(Increase)/Decrease in inventories	1,593	(270)	240	(1,143)
(Decrease) in trade and other payables, deferred income and other tax payables	4,836	3,626	14,364	9,462
Income taxes paid	(769)	(391)	(2,075)	(1,478)
Net cash flows used in operating activities	(8,392)	(19,525)	(3,910)	(38,901)
Cash flows from investing activities
Purchase of property and equipment	(681)	(331)	(926)	(1,142)
Proceeds from sale of property and equipment	4	15	84	50
Interest received	810	1,798		2,533
Interest received			(13)
Movement in other non-current assets	91	203	48	251
Movement in term deposits and other financial assets	25,019	12,499	21,579	51,329
Net cash flows (used in) / from investing activities	25,243	14,184	20,772	53,021
Cash flows from financing activities
Payment of lease interest	(259)	(318)	(436)	(678)
Repayment of lease liabilities	(1,572)	(1,161)	(2,381)	(3,499)
Equity transaction costs	0	(6)	0	(18)
Net cash flows (used in) / from financing activities	(1,831)	(1,485)	(2,817)	(4,195)
Net increase / (decrease) in cash and cash equivalents	15,020	(6,826)	14,045	9,925
Effect of exchange rate changes on cash and cash equivalents	1,410	(18,995)	(4,471)	(20,464)
Cash and cash equivalents at the beginning of the period	28,627	86,861	35,483	71,579
Cash and cash equivalents at the end of the period	$ 45,057	$ 61,040	$ 45,057	$ 61,040

v3.24.2.u1

Corporate information	6 Months Ended
	Jun. 30, 2024
Corporate information
Corporate information	1 Corporate information The accompanying unaudited interim condensed consolidated financial statements and notes present the operations of Jumia Technologies AG (the “Company” or “Jumia Tech”) and its subsidiaries (the “Group” or “Jumia”). The Company was incorporated as Africa Internet Holding GmbH on June 26, 2012, and was transformed into Jumia Technologies AG, a German stock corporation on January 31, 2019. The Company is domiciled in Germany and has its registered office located at Skalitzer Strasse 104, 10997 Berlin, Germany. The Group operates in e-commerce across the African continent. In April 2019 Jumia Tech became a listed company on New York Stock Exchange (NYSE), with ticker symbol “JMIA”. Jumia is the leading pan-African e-commerce platform. Jumia’s platform consists of a marketplace, which connects sellers with customers, a logistics service, which enables the shipping and delivery of packages from sellers to customers, and a payment service, which facilitates transactions among participants active on Jumia’s platform. The Group has incurred significant losses since its incorporation. The Group expects to continue generating losses as it makes the necessary investments to grow and/or rebalance its business. The Group will therefore continue to require additional funding either from existing or new shareholders. The interim condensed consolidated financial statements disclose all matters of which the Group is aware, and which are relevant to the Group’s ability to continue as a going concern, including all significant events and mitigating factors. Further details can be found in Note 31. The interim condensed consolidated financial statements have been prepared on a basis which assumes that the Group will continue as a going concern, and which contemplates the recoverability of assets and the satisfaction of the liabilities and commitments in the normal course of business. The Group has sufficient resources to operate as a going concern for the next 12 months.

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Basis of preparation	6 Months Ended
	Jun. 30, 2024
Summary of significant accounting policies
Basis of preparation	2 Basis of preparation These unaudited condensed interim consolidated financial statements for the quarterly reporting period ended June 30, 2024 have been prepared in accordance with International Financial Reporting Standards («IFRS») applicable to the preparation of interim financial statements, including International Accounting Standard («IAS») 34, Interim Financial Reporting, as issued by the International Accounting Standard Board («IASB»). Our business is seasonal and, consequently, our results tend to fluctuate from quarter to quarter. However, the comparability of the Group's results and financial position of the interim period, is not significantly affected by the level of seasonality. The interim report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the consolidated financial statements for the year ended December 31, 2023. The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period, except for the adoption of the new standards effective as of January 1, 2024 (Note 4 a)). The interim condensed consolidated financial statements are presented in US dollars and all values are rounded to the nearest thousand ($000), except when otherwise indicated.

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Significant changes in the current reporting period	6 Months Ended
	Jun. 30, 2024
Disclosure of changes in accounting estimates [abstract]
Significant changes in the current reporting period	3 Significant changes in the current reporting period The financial position and performance of the Group, during the six months ended June 30, 2024, was affected by Egypt and Nigeria currency fluctuations. Both Egypt and Nigeria face significant macroeconomic challenges, further exacerbated by ongoing regional conflicts. In 2023, the Egyptian government, while seeking increased access to a support program, collaborated with the International Monetary Fund (IMF) to implement policies aimed at promoting exchange rate flexibility and enhancing economic resilience. This resulted in a devaluation of the Egyptian Pound (EGP). The EGP was allowed to float more freely on the market, aligning with IMF loan conditions. During Six months ended June 30, 2024, the accumulated devaluation of the EGP against the US Dollar (USD) was 55%. Similarly, in June 2023, Nigeria experienced a significant devaluation of the Nigerian Naira (NGN) against the US Dollar following a policy shift by the Central Bank of Nigeria. They abandoned their previous system of multiple exchange rates and allowed the NGN to trade more freely on the foreign exchange market. In February 2024, there was a further devaluation as the methodology for calculating the official exchange rate was revised, bringing it closer to the freely traded rate. During the Six months ended June 30, 2024, the accumulated devaluation of the NGN against the US Dollar (USD) was 71%. Changes in accounting policies, estimates and assumptions There have been no material changes in the accounting policies and basis of consolidation adopted in prior periods. None of the standards and interpretations that have been adopted for the first time have had a material impact on the Group's accounting policies. There have been no material revisions to the nature and amount of estimates and assumptions reported in prior periods. In view of the business activities in which the Group engages, transactions are not substantially cyclical or seasonal in nature. Therefore, no specific disclosures are included in this connection in the explanatory notes to the interim condensed consolidated financial statements.

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New accounting pronouncements	6 Months Ended
	Jun. 30, 2024
New accounting pronouncements
New accounting pronouncements	4 New accounting pronouncements a) New standards, interpretations and amendments adopted by the Group During the current period the Group has adopted the following amendments, which have no material impacts on the Group’s interim consolidated financial statements. •Amendments to IAS 1: Classification of Liabilities as Current or Non-Current •Amendments to IFRS 16: Lease Liability in a Sale and Leaseback •Amendments to IAS 1: Non-current Liabilities with Covenants •Amendments to IAS 7 and IFRS 7: Supplier Finance Arrangements b) Standards issued during the interim period but not yet effective in the interim condensed consolidated financial statements IAS 21 ("The Effects of Changes in Foreign Exchange Rates") amendment on lack of exchangeability On 15 August 2023, the IASB issued ‘The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability (Amendment to IAS 21)' that adds requirements for determining whether a currency can be exchanged for another currency (exchangeability) and defining how to determine the spot exchange rate to be used when it is not possible to exchange a currency for a long period of time. This change also requires the disclosure of information that allows understanding how the currency that cannot be exchanged for another currency affects, or is expected to affect, the financial performance, financial position and cash flows of the entity, in addition to the spot exchange rate used on the reporting date and how it was determined. The amendment is effective for annual reporting periods beginning on or after January 1, 2025. The group does not expect a material impact upon adoption of this amendment. Amendments IFRS 9 ("Financial Instruments") and IFRS 7 ("Financial Instruments: Disclosures") regarding the classification and measurement of financial instruments On 30 May 2024, the IASB issued ‘Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7)'. These amendments intend to: i) clarify the date of recognition and derecognition of some financial assets and liabilities, with a new exception for some financial liabilities settled through an electronic cash transfer system; ii) clarify and add further guidance for assessing whether a financial asset meets the solely payments of principal and interest (SPPI) criterion; iii) add new disclosure requirements for instruments with contractual conditions that can change cash flows, like those linked to ESG targets; and iv) update the disclosure requirements for equity instruments designated at fair value through other comprehensive income, separating the fair value reserve into the fair value gains or losses of the investments derecognised and those held at the end of the period. These amendments apply at the date they become effective without restating the comparatives. The amendments are effective for annual reporting periods beginning on or after January 1, 2026. The group does not expect a material impact upon adoption of these amendments. IFRS 18 Presentation and Disclosures in Financial Statements On 9 April 2024, the IASB issued ‘IFRS 18 - Presentation and Disclosures in Financial Statements'. This new standard will replace the current IAS 1. While retaining many of the existing principles of IAS 1, it is focused on the specification of a structure for the statement of profit or loss, composed of categories and required subtotals. Items in the statement of profit or loss will be classified into one of three categories: operating, investing, financing. Specified subtotals and totals will be required being the main change the mandatory inclusion of the subtotal “Operating profit or loss”. This standard also includes improvements to the disclosure of management performance measures including the reconciliation with the most similar specified subtotal in IFRS Accounting standards. This standard also enhances guidance on the principles of aggregation and disaggregation of information in the financial statements and respective notes, based on their shared characteristics. This standard applies retrospectively. The standard is effective for annual reporting periods beginning on or after January 1, 2027. The group is analyzing the potential impacts of adoption of this standard in the presentation of financial statements (in particular comprehensive income statement), and disclosures of management performance measures. IFRS 19 Subsidiaries without Public Accountability: Disclosures On 9 May 2024, the IASB issued ‘IFRS 19 Subsidiaries without Public Accountability: Disclosures'. This new standard is still subject to endorsement by the European Union. IFRS 19 is a voluntary standard which allows “Eligible” subsidiaries to use IFRS Accounting Standards with reduced disclosure requirements. IFRS 19 is a disclosure-only standard and works alongside other IFRS Accounting Standards for recognition, measurement, and presentation requirements. A subsidiary is “Eligible” if (i) it does not have public accountability; and (ii) has a parent that prepares consolidated financial statements available for public use that comply with IFRS Accounting Standards. IFRS 19 can be applied by “Eligible” subsidiaries when preparing their own consolidated, separate or individual financial statements. Complete comparative information needs to be prepared under IFRS 19 unless any exemption applies. The standard is effective for annual reporting periods beginning on or after January 1, 2027. The group will not have a material impact upon adoption of this standard.

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Property and Equipment	6 Months Ended
	Jun. 30, 2024
Disclosure of detailed information about property, plant and equipment [abstract]
Property and Equipment	5 Property and Equipment Movements in the carrying amount of property and equipment were as follows: In thousands of USD Buildings Technical equipment and machinery Transportation equipment, office equipment and other equipment Right of use assets - Office and Warehouse Total Cost Balance as of December 31, 2023 2,483  5,263  18,524  20,593  46,863  Additions 139  418  408  6,547  7,512  Lease modifications —  —  —  (2,803) (2,803) Disposals (613) (283) (3,190) —  (4,086) Impairment (111) —  (126) —  (237) Effect of translation (132) (548) (2,640) (1,932) (5,252) Balance as of June 30, 2024 1,766  4,850  12,976  22,405  41,997  Accumulated depreciation Balance as of December 31, 2023 (1,849) (3,196) (13,118) (14,339) (32,502) Depreciation charge (127) (394) (1,179) (2,178) (3,878) Accumulated depreciation on disposals 586  158  2,952  —  3,696  Lease modifications —  —  —  2,598  2,598  Effect of translation 84  259  1,771  824  2,938  Balance as of June 30, 2024 (1,306) (3,173) (9,574) (13,095) (27,148) Carrying amount as of December 31, 2023 634  2,067  5,406  6,254  14,361  Carrying amount as of June 30, 2024 460  1,677  3,402  9,310  14,849  Set out below, are the carrying amounts of the Group’s right-of-use assets and lease liabilities and the movements during the period: In thousands of USD Right of use assets Lease Liabilities As of December 31, 2023 6,254  6,075  Additions 6,547  5,426  Depreciation (2,178) —  Interest expense —  566  Lease modifications (205) (268) Payments —  (2,824) Effect of translation (1,108) (726) As of June 30, 2024 9,310  8,249  During the six months ended on June 30, 2024, the Group’s main additions on Right of use assets include new lease contracts for new warehouse facilities in Nigeria, Morocco, and Egypt as the new office facilities in China and Algeria. Lease modifications are mainly driven by the early termination of warehouse contracts in Egypt and Algeria and by the early termination of office contract in Nigeria. These effects are partially offset by the renewal of warehouse contracts in Senegal.

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Deferred Tax Assets and Liabilities	6 Months Ended
	Jun. 30, 2024
Net deferred tax assets and liabilities [abstract]
Deferred Tax Assets and Liabilities	6 Deferred Tax Assets and Liabilities The Group records the tax effect resulting from temporary differences between the assets and liabilities determined on an accounting basis and on a tax basis. The balance of the deferred tax assets and deferred tax liabilities, on a consolidated basis, is USD517 thousand as of June 30, 2024 (December 31, 2023: USD531 thousand), consisting of tax benefits to be used in future periods and USD1,381 thousand as of June 30, 2024 (December 31, 2023: USD204 thousand), comprised primarily of unrealized foreign exchange gains. The variance of the tax effect described above impacted “Other reserves” by USD877 thousand, which relates to the fair value of financial assets measured at fair value through other comprehensive income, and “Income tax expense” by USD342 thousand, relating to remaining impacts. As mentioned on the annual report, the offset between deferred tax assets and liabilities is performed at each subsidiary level.

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Other non-current assets	6 Months Ended
	Jun. 30, 2024
Other Non-current Assets [Abstract]
Other non-current assets	7 Other non-current assets As of June 30, 2024, other non-current assets were comprised of rent, trade, and other term deposits amounting to USD938 thousand (December 31, 2023: USD1,245 thousand), restricted from being exchanged or used to settle a liability for at least twelve months after the reporting period, and other non-current assets amounting to USD41 thousand as of June 30, 2024 (December 31, 2023: USD44 thousand).

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Inventories	6 Months Ended
	Jun. 30, 2024
Classes of current inventories [abstract]
Inventories	8 Inventories Inventories are comprised of the following: As of In thousands of USD December 31, 2023 June 30, 2024 Merchandise available for sale 10,868  8,277  Less: Provision for slow moving and obsolete inventories (1,169) (1,038) Total Inventories 9,699  7,239  The total cost of inventory, which consists primarily of the purchase price of customer products, recognized as an expense in the interim consolidated profit or loss for the six months ended June 30, 2024 was USD32,129 thousand. The total cost of revenue recognized as an expense in the interim consolidated profit or loss for the six months ended June 30, 2024 amounted to USD32,604 thousand and consists primarily of the cost of inventory. The amount of write-down of inventories recognized in the consolidated profit or loss was USD575 thousand. The amount of reversal of write-down recognized as reduction in the amount of inventories recognized as an expense in the consolidated profit or loss was USD159 thousand. The reversal of write-down primarily arises from our ability to increase the net realizable value of certain inventory items through price increases, driving higher margins.

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Cash and cash equivalents	6 Months Ended
	Jun. 30, 2024
Cash and cash equivalents [abstract]
Cash and cash equivalents	9 Cash and cash equivalents Cash and cash equivalents are comprised of the following: As of In thousands of USD December 31, 2023 June 30, 2024 Cash at bank and in hand 29,367  41,800  Short-term deposits 6,116  3,257  Total Cash and cash equivalents 35,483  45,057  Cash at banks earns interest at floating rates based on daily bank deposit rates. Short-term deposits are made for varying periods, depending on the immediate cash requirements of the Group, and earn interest at the respective short-term deposit rates. The Group has no restricted cash presented in cash and cash equivalents as of June 30, 2024 (December 31, 2023: none). While cash and cash equivalents are also subject to the impairment requirements of IFRS 9 ("Financial Instruments"), the identified expected credit loss was immaterial, due to low credit risk rating of the financial institutions.

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Term deposits and other financial assets	6 Months Ended
	Jun. 30, 2024
Term Deposits
Term deposits and other financial assets	10 Term deposits and other financial assets Term deposits and other financial assets are comprised of the following: As of In thousands of USD December 31, 2023   June 30, 2024 Financial assets at fair value through OCI 84,023  46,782  Short term deposits - banks 1,065  965  Term Deposits and other financial assets 85,088  47,747  Deposits represent interest bearing deposits with a commercial bank for a fixed period of more than 3 months. Other financial assets comprised the following: As of In thousands of USD December 31, 2023 June 30, 2024 Current financial assets measured at fair value through other comprehensive income 84,023  46,782  Other financial assets – current 84,023  46,782  Financial assets measured at fair value through other comprehensive income comprise investments in listed investment grade bonds, via a discretionary account managed by Citi Private Bank, with the objective of maintaining capital and obtaining benchmark yields. The Group holds these investments under a “hold to collect and sell” business model as defined under IFRS 9. Interest income from financial assets at fair value through OCI are disclosed in Note 26. The reduction in the amount of the assets occurred throughout the six months ended June 30, 2024, is explained by the sale of listed investment grade bonds and the fair value loss. Financial assets measured at fair value through profit or loss comprise investments in securities, with the objective of obtaining returns in line with specific market benchmarks. Fair value variances are disclosed in Note 26. Other financial assets are presented as current whenever maturity of the investments is within 12 months of the reporting date or if management expects to sell the asset within 12 months. Fair value reserve The movement in the fair value reserve for financial assets at fair value through other comprehensive income (“FVOCI”), including the allowance for expected credit losses (“ECL”), is as follows: In thousands of USD OCI on financial assets at fair value Balance as of December 31, 2023 (5,820) Changes in fair value of financial assets 619  Deferred tax assets on fair value loss through other comprehensive income (877) Reclassification from fair value reserve to profit or loss of the period due to maturity or sale of financial assets 3,427  Changes in allowance for expected credit losses - reversal (17) Changes recognized in other comprehensive income of the period (Note 14) 3,152  Balance as of June 30, 2024 (2,668)

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Trade and other receivables	6 Months Ended
	Jun. 30, 2024
Trade and other current receivables [abstract]
Trade and other receivables	11 Trade and other receivables Trade and other receivables are comprised of the following: As of In thousands of USD December 31, 2023 June 30, 2024 Advances to suppliers 2,667  3,934  Trade notes and accounts receivable 16,357  12,125  Unbilled revenues 6,786  573  Other receivables 2,448  1,372  28,258  18,004  Less: Allowance for expected credit loss (5,101) (3,877) Trade and other receivables 23,157  14,127  Allowance for expected credit losses The movement of allowance for expected credit losses (“ECL”) of trade and other receivables is as follows: In thousands of USD ECL of trade and other receivables Balance as of December 31, 2023 5,101  Provision for expected credit losses (76) Write-off (726) Effect of translation (422) Balance as of June 30, 2024 3,877

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Prepaid expenses	6 Months Ended
	Jun. 30, 2024
Prepaid expenses
Prepaid expenses	12 Prepaid expenses As of June 30, 2024, prepaid expenses were comprised of prepaid server hosting fees and software licenses of USD4,129 thousand (December 31, 2023: USD5,155 thousand), prepaid rent of USD367 thousand (December 31, 2023: USD2,550 thousand), prepaid insurance of USD2,396 thousand (December 31, 2023: USD1,064 thousand) and advance payments to the Group’s partners for online payment services amounting to USD89 thousand (December 31, 2023: USD364 thousand). The remaining amount of USD484 thousand (December 31, 2023: USD337 thousand) relates to other goods and services, namely travel and entertainment and professional fees.

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Share capital and share premium	6 Months Ended
	Jun. 30, 2024
Disclosure of classes of share capital [abstract]
Share capital and share premium	13 Share capital and share premium Ordinary shares issued and fully paid as of June 30, 2024 Number of shares Class Par value (EUR) Share capital (in thousands of USD) Share premium (in thousands of USD) Total 204,470,178 Ordinary 1 239,163 1,736,469 1,975,632 Total 1 239,163 1,736,469 1,975,632 The total issued number of ordinary shares is 204,470,178 shares as of June 30, 2024 with a par value of EUR 1.00 per share. All issued ordinary shares are fully paid. Each ordinary share carries one vote. During six months ended June 30, 2024, 2,192,812 shares were issued, all fully paid, relating to the settlement of different equity programs of the company. Related transaction costs of USD32 thousand are recognized directly in the accumulated losses. Ordinary shares issued and fully paid as of December 31, 2023 Number of shares Class Par value (EUR) Share capital (in thousands of USD) Share premium (in thousands of USD) Total 202,277,366 Ordinary 1 236,800 1,736,469 1,973,269 Total 1 236,800 1,736,469 1,973,269 The total issued number of ordinary shares is 202,277,366 shares as of December 31, 2023 with a par value of EUR 1.00 per share. All issued ordinary shares are fully paid. Each ordinary share carries one vote. During 2023, 1,044,806 shares were issued, all fully paid, relating to the settlement of different equity programs of the company. Related transaction costs of USD24 thousand are recognized directly in the accumulated losses.

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Other Reserves	6 Months Ended
	Jun. 30, 2024
Disclosure of reserves within equity [abstract]
Other Reserves	14 Other Reserves In thousands of USD Share-based payment capital reserves Exchange difference on net investment in foreign operations Fair value reserve of financial assets at FVOCI Currency translation adjustment Total other reserves As of December 31, 2023 188,249 (576,733) (5,820) 555,033 160,729 Other comprehensive (loss) / income — (190,348) 3,152  202,626  15,430  Total comprehensive (loss) / income for the period — (190,348) 3,152 202,626 15,430 Share-based payments 3,560 — — — 3,560 Exercise of options (2,361) — — — (2,361) As of June 30, 2024 189,448 (767,081) (2,668) 757,659 177,358

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Share based compensation	6 Months Ended
	Jun. 30, 2024
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Share-based compensation	15 Share-based compensation There were no new share-based compensation plans adopted during the Six months ended June 30, 2024. The Group recognized share-based compensation expenses of USD1,650 thousand in the three months ended June 30, 2024 and USD3,806 thousand in the Six months ended June 30, 2024 (For the three months ended June 30, 2023: USD1,302 thousand; For the Six months ended June 30, 2023: USD2,252 thousand).

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Trade and other payables	6 Months Ended
	Jun. 30, 2024
Trade and other current payables [abstract]
Trade and other payables	16 Trade and other payables Trade and other payables are comprised of the following: As of In thousands of USD December 31, 2023   June 30, 2024 Trade payables 20,780  19,285  Invoices not yet received 15,246  11,962  Accrued employee benefit costs 9,191  8,569  Share-based compensation - Cash settled payable 206  310  Trade Deposits 730  617  Sundry accruals 9,397  7,744  Trade and Other Payables 55,550  48,487  Current 55,425  48,432  Non-current 125  55  Sundry accruals relate principally to IT, consulting and marketing.

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Borrowings	6 Months Ended
	Jun. 30, 2024
Financial Instruments [Abstract]
Borrowings	17 Borrowings Lease liabilities are presented in the statement of financial position as follows: As of In thousands of USD December 31, 2023 June 30, 2024 Current 3,718  2,725  Non-current 2,357  5,524  Total Lease liabilities 6,075  8,249  Set out below is the maturity of the lease liabilities classified as non-current: In thousands of USD One to five years More than five years Total Lease liability future payments 5,524  —  5,524  The Group has several lease contracts that include extension and termination options. Whenever the contracts do not include a mutual agreement clause, the Group applies judgement in evaluating whether it is reasonably certain whether or not to exercise the option to renew or terminate the lease. Changes in liabilities arising from financing activities In thousands of USD December 31, 2023 Additions and modifications Payments Reclassification Effect of translation June 30, 2024 Current lease liabilities 3,718  1,208  (2,824) 838  (215) 2,725  Non-current lease liabilities 2,357  4,516  —  (838) (511) 5,524  Total liabilities from financing activities 6,075  5,724  (2,824) —  (726) 8,249  Additions and modifications include USD566 thousand of accrued interest.

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Other taxes receivable & Other taxes payable	6 Months Ended
	Jun. 30, 2024
Other taxes payable & Other taxes receivable
Other taxes receivable & Other taxes payable	18 Other taxes receivable & Other taxes payable Other taxes receivable are comprised of the following: As of In thousands of USD December 31, 2023 June 30, 2024 Value added taxes 8,785  8,450  Other taxes receivable 79  11  Other taxes receivable 8,864  8,461  Current 4,143  4,354  Non-Current 4,721  4,107  Other taxes payable are comprised of the following: As of In thousands of USD December 31, 2023 June 30, 2024 Value added taxes 10,106  9,519  Withholding Tax 11,840  11,921  Other taxes payable 1,980  506  Other taxes payable 23,926  21,946  Current 23,452  21,084  Non-Current 474  862

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Provisions for liabilities and other charges	6 Months Ended
	Jun. 30, 2024
Disclosure of other provisions [abstract]
Provisions for liabilities and other charges	19 Provisions for liabilities and other charges Movements in provisions for liabilities and other charges are as follows: In thousands of USD Uncertain tax positions Marketplace and consignment goods Provision for other expenses Total Balance as of December 31, 2023 15,288  454  3,191  18,933  Additions 277  —  425  702  Reversals (875) (49) (59) (983) Use of provision (1,324) —  —  (1,324) Effect of translation (1,731) (97) (285) (2,113) Balance as of June 30, 2024 11,635  308  3,272  15,215  Current 11,635  308  2,818  14,761  Non-current —  —  454  454  Uncertain tax positions Uncertain tax positions includes provisions related to VAT for USD1,880 thousand (December 31, 2023: USD3,253 thousand), provisions related to Withholding Tax (WHT) for USD9,117 thousand (December 31, 2023: USD10,758 thousand) and provisions related to other taxes for USD638 thousand (December 31, 2023: USD1,277 thousand). The use of provision pertained to the settlement of tax audits. Provision is calculated based on the detailed review of uncertain tax positions completed by management across the group and in consideration of the probability of a liability arising, within the applicable statute of limitations. These provisions are expected to be utilized or released as a result of the regular tax audits in the Countries where the Group operates. Marketplace and consignment goods The provision for marketplace and consignment goods relates to the lost and damaged items, which are to be reimbursed to the sellers. The provision is calculated based on the detailed review of these items, and it is expected that these costs will be incurred in the next financial year. Provision for other expenses The provision for other expenses includes the end-of-service gratuity provision of USD454 thousand (December 31, 2023: USD631 thousand) and various litigation and penalty provisions of USD2,818 thousand (December 31, 2023: USD2,561 thousand). The provisions are calculated based on our best estimate considering past experience. Subsequent to the reporting date, USD1.8 million of the provisions were utilized to settle a claim by a regulatory authority.

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Deferred income	6 Months Ended
	Jun. 30, 2024
Accruals and deferred income including contract liabilities [abstract]
Deferred income	20 Deferred income As of June 30, 2024 deferred income included contract liabilities related to payments received from customers in advance for goods that have been ordered but are not yet delivered amounting to USD14,943 thousand (December 31, 2023: USD2,712 thousand), variable consideration deferred amounting to USD1,231 thousand (December 31, 2023: nil) and USD186 thousand (December 31, 2023: USD390 thousand) related to a depositary fee from BNY Mellon, deferred over the course of 5 years which will end in 2024.

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Revenue	6 Months Ended
	Jun. 30, 2024
Revenue [abstract]
Revenue	21 Revenue Revenue is comprised of the following: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 First-party sales 21,129  16,110  38,497  38,541  Commissions 9,158  10,246  18,900  27,505  Fulfillment 4,569  3,788  9,402  7,435  Value added services 4,879  3,575  11,057  7,085  Marketing and advertising 3,691  2,437  6,290  3,892  Other revenue 606  318  1,135  909  Revenue 44,032  36,474  85,281  85,367  Our primary sources of revenue are first-party sales and commissions, fulfillment and value added services from third-party sales. Revenue remained stable at USD85,367 thousand in the six months ended June 30, 2024 compared to USD85,281 thousand in the six months ended June 30, 2023, driven by higher third-party commissions in corporate sales to local and regional retailers, distributors and other corporate buyers, primarily in Egypt, partially offset by the impact of foreign exchange fluctuations, in particular the Nigerian Naira and the Egyptian Pound depreciation. As previously disclosed in the annual consolidated financial statements, the Group had one operating and reportable segment. The chief operating decision maker, comprised of the CEO and the Executive Vice President, Finance & Operations, makes decisions as to how to allocate resources based on the long-term growth potential of the Group as determined by market research, growth potential in regions, and various internal key performance indicators. No single customer accounted for more than 10% of Group revenues for the six months ended June 30, 2024 and 2023. The Group’s geographical distribution of revenue was as follows: Revenue For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 West Africa(1) 20,621  17,121  40,907  36,114  North Africa(2) 17,133  13,089  32,028  38,346  East and South Africa(3) 6,078  6,208  11,827  10,671  Europe(4) 13  16  1  186  United Arab Emirates 187  32  514  34  Others —  8  4  16  Total 44,032  36,474  85,281  85,367  ___________________________ (1)West Africa covers Nigeria, Ivory Coast, Senegal and Ghana. (2)North Africa covers Egypt, Tunisia, Morocco and Algeria. (3)East and South Africa covers Kenya, Uganda and South Africa. (4)Germany.

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Fulfillment expense	6 Months Ended
	Jun. 30, 2024
Fulfillment expense
Fulfillment expense	22 Fulfillment expense Fulfillment expense is comprised of the following: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Fulfillment staff costs 3,274  2,543  6,882  5,601  Fulfillment centers expense 774  551  1,586  918  Freight and shipping expense 6,564  6,228  13,961  12,181  Fulfillment expense 10,612  9,322  22,429  18,700  Fulfillment expense decreased by 16.6% from USD22,429 thousand in the six months ended June 30, 2023 to USD18,700 thousand in the six months ended June 30, 2024, driven by the effects of currency devaluation and the implementation of optimization and cost reduction initiatives. On a per Order basis, fulfillment expense decreased from USD2.78 to USD2.28.

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Sales and advertising expense	6 Months Ended
	Jun. 30, 2024
Sales and advertising expense
Sales and advertising expense	23 Sales and advertising expense Sales and advertising expense is comprised of the following: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Staff costs 1,830  1,359  3,760  2,887  Advertising campaigns 3,217  2,659  6,211  4,473  Selling expenses 425  405  840  805  Sales and advertising expense 5,472  4,423  10,811  8,165  Sales and advertising expense decreased by 24.5% from USD10,811 thousand in the six months ended June 30, 2023 to USD8,165 thousand in the six months ended June 30, 2024, as we continue our efforts to grow orders through supply enhancements rather than increased marketing expenditure.

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Technology and content expense	6 Months Ended
	Jun. 30, 2024
Technology and content expense
Technology and content expense	24 Technology and content expense Technology and content expense is comprised of the following: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Staff Costs 4,660  3,112  9,828  6,961  Technology license and maintenance expenses 6,035  5,610  12,050  10,870  Technology and content expense 10,695  8,722  21,878  17,831  Technology and content expense decreased by 18.5% from USD21,878 thousand in the six months ended June 30, 2023 to USD17,831 thousand in the six months ended June 30, 2024, driven by savings achieved through better management of hosting infrastructure, operational tools, and reductions in overhead.

v3.24.2.u1

General and administrative expense	6 Months Ended
	Jun. 30, 2024
General and administrative expense [Abstract]
General and administrative expense	25 General and administrative expense General and administrative expense General and administrative expense is comprised of the following: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Staff Costs 10,816  9,581  23,169  20,488  Occupancy Costs 547  352  1,065  740  Professional fees 2,682  2,808  5,079  4,949  Travel and entertainment 462  498  952  1,061  Office and related expenses 1,698  1,079  3,486  2,195  Bank fees & payment costs 115  140  297  322  Bad debt expense 5  (15) (216) (32) Tax expense / (reversal) (1,580) 1,587  2,234  986  Depreciation and amortization 2,608  2,033  5,436  3,914  Other general and administrative expense 1,174  1,145  2,187  2,037  General and administrative expense 18,527  19,208  43,689  36,660  For the six months ended June 30, 2024, staff costs expense includes share options and stock units granted to eligible employees of USD3,806 thousand (For the six months ended June 30, 2023: USD2,252 thousand). For the six months ended June 30, 2024, other general and administrative expense includes USD1,554 thousand (For the six months ended June 30, 2023: USD1,876 thousand) for insurance premiums.

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Finance income and finance costs	6 Months Ended
	Jun. 30, 2024
Finance income and finance costs
Finance income and finance costs	26 Finance income and finance costs Finance income and finance costs comprise of the following: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Foreign exchange gain / (loss) 1,682  (86) 3,333  650  Interest and similar income 490  286  762  524  Interest income from financial assets at fair value through OCI 712  142  1,625  584  Fair value gain on financial assets at fair value through profit or loss —  —  237  —  Other income 11  349  55  226  Finance income 2,895  691  6,012  1,984  Foreign exchange loss 9,866  94  13,459  14,095  Interest and similar expense 279  439  630  1,932  Fair value loss on financial assets at fair value through profit and loss —  65  —  16,163  Loss recognized on disposal of debt instruments held at fair value through OCI (Note 10) 1,372  2,196  1,372  3,427  Other charges 172  155  157  (73) Finance costs 11,689  2,949  15,618  35,544  For the six months ended June 30, 2024, financial assets measured at fair value through profit or loss included investments in securities (Note 10). These financial assets incurred a fair value loss of USD16,163 thousand (For the six months ended June 30, 2023: nil ) realized upon sale, along with transaction costs of USD1,372 thousand (For the six months ended June 30, 2023: nil) recognized under interest and similar expense. These financial assets were fully disposed of in the six months ended June 30, 2024. Interest income from financial assets at fair value through OCI includes the interest measured and recognized according to effective interest rate method and amounts to USD584 thousand in the six months ended June 30, 2024 (For the six months ended June 30, 2023: USD1,625 thousand).

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Income tax	6 Months Ended
	Jun. 30, 2024
Major components of tax expense (income) [abstract]
Income tax	27 Income tax Income tax payables and receivables are comprised of the following: As of In thousands of USD December 31, 2023 June 30, 2024 Income Tax Prepayments 2,000  2,486  Total Income tax receivables 2,000  2,486  Income Tax Payables 547  221  Provision for Income Tax 12,880  12,031  Total Income tax payables 13,427  12,252  Income tax benefit / (expense) is comprised of the following: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Current tax (expense) / benefit (381) (31) (1,729) (204) Deferred tax (expense) / benefit 550  507  1,799  (342) Total Income tax (expense) / benefit 169  476  70  (546)

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Earnings per share	6 Months Ended
	Jun. 30, 2024
Earnings per share [abstract]
Earnings per share	28 Earnings per share The following table reflects the loss and share data used in the basic and diluted EPS calculations from continuous operations: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Numerator Loss for the period from continuing operations (30,690) (22,012) (60,031) (62,669) Less: net loss attributable to non-controlling interest from continuing operations (14) (8) (23) (15) Loss attributable to Equity of the Company from continuing operations (30,676) (22,004) (60,008) (62,654) Denominator Weighted average number of shares for basic and diluted EPS 201,348,650 203,688,733 201,290,284 202,988,661 Loss per share from continuing operations - basic and diluted (0.15) (0.11) (0.30) (0.31) The following table reflects the loss and share data used in the basic and diluted EPS calculations from discontinued operations: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Numerator Loss for the period from discontinued operations (1,201) —  (3,629) —  Loss attributable to Equity of the Company from discontinued operations (1,201) —  (3,629) —  Denominator Weighted average number of shares for basic and diluted EPS 201,348,650 203,688,733 201,290,284 202,988,661 Loss per share from discontinued operations - basic and diluted (0.01) —  (0.02) —  The following table reflects the loss and share data used in the basic and diluted EPS calculations: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Numerator Loss for the period (31,891) (22,012) (63,660) (62,669) Less: net loss attributable to non-controlling interest (14) (8) (23) (15) Loss attributable to Equity of the Company (31,877) (22,004) (63,637) (62,654) Denominator Weighted average number of shares for basic and diluted EPS 201,348,650 203,688,733 201,290,284 202,988,661 Loss per share - basic and diluted (0.16) (0.11) (0.32) (0.31)

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Transactions and balances with related parties	6 Months Ended
	Jun. 30, 2024
Disclosure of transactions between related parties [abstract]
Transactions and balances with related parties	29 Transactions and balances with related parties Transactions with Key management Key management includes the senior executives. The compensation paid or payable to key management for employee services is shown below: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Short-term employee benefits 765  945  1,576  1,757  Other benefits 14  15  48  30  Share-based compensation 326  453  792  1,162  Total 1,105  1,413  2,416  2,949

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Fair Values of Financial Instruments	6 Months Ended
	Jun. 30, 2024
Disclosure of detailed information about financial instruments [abstract]
Fair Values of Financial Instruments	30 Fair Values of Financial Instruments Financial instruments comprise of financial assets and financial liabilities. Financial assets consist of term deposits and other financial assets, cash and cash equivalents and trade and other receivables. Financial liabilities consist of borrowings and trade and other payables. Management considers that the carrying amounts of financial assets measured at amortized cost, and financial liabilities in the financial statements approximate their fair values, due to their short term maturities. Financial investments measured at fair value As of June 30, 2024 other financial assets were measured using as inputs quoted prices in an active market, corresponding to the Level 1 of the fair value hierarchy of IFRS 13. When transfers into and out of fair value hierarchy levels are required, it is the Group's policy to transfer the amounts at the end of the reporting period. Amounts of other financial assets corresponding to the Level 1 of the fair value hierarchy are transferred to Level 2 when quoted prices cease to be available. Level 2 measurements of fair value are determined by maximizing the use of market data other than the quoted price, such as interest rate yield curves and publicly available credit ratings. Conversely, amounts of other financial assets corresponding to the Level 2 are transferred to Level 1 when quoted prices become available.

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Financial risk management objectives and policies	6 Months Ended
	Jun. 30, 2024
Disclosure of risk management strategy related to hedge accounting [abstract]
Financial risk management objectives and policies	31 Financial risk management Market risk Foreign currency risk Due to its international business activities, the Group is exposed to the risk of changes in foreign exchange rates in connection with trade payables and trade receivables resulting from purchase and sales transactions denominated in a different currency from the functional currency of the respective operation as well as intercompany financing. However, the Group maintains a natural hedge across most of the Group’s cash flows as the Group’s revenue streams are generated in local currencies matched by Group’s costs mostly incurred in the respective local currencies, limiting the risk of foreign currency exposure. In respect of currency risk, management sets limits on the level of exposure by currency and in total. The positions are monitored monthly. The Group does not use derivatives as hedging instruments to limit its exposure from foreign currency risks. Interest rate risk The Group has invested excess cash in financial instruments such as listed investment grade bonds pursuant to its cash management strategy, as discussed in Note 10. Changes in the interest rate curve will affect the fair value and/or cash flows of the listed investment grade bonds. In respect of interest rate risk, management monitors the change in interest rates. The Group does not use derivatives as hedging instruments to limit its exposure from interest rate risks. As of June 30, 2024, the listed investment grade bonds held by the Group are fixed-rate instruments. Credit risk Trade receivables As of June 30, 2024, the Group has as an allowance for uncollectible receivables of USD3,877 thousand (December 31, 2023: USD5,101 thousand) as set out in the Note 11. The Group evaluates the concentration of risk with respect to trade receivables and contract assets as low, as its customers are located in several jurisdictions and industries and operate in largely independent markets. Cash deposits The expected credit losses (“ECL”) from cash and cash equivalents, are estimated by the Group as immaterial as of June 30, 2024, due to ratings of the financial institutions that indicate low credit risk. Other financial assets The Group’s maximum exposure to credit risk for other financial assets of June 30, 2024 is the respective carrying amount. As of June 30, 2024, all of the Group’s debt investments measured at fair value through other comprehensive income are considered to have low credit risk (stage 1 of the 3-stage model), and the loss allowance recognized during the period was therefore limited to expected credit losses for 12 months. Management considers ‘low credit risk’ for listed bonds to be an investment grade credit rating by a major rating agency. The Group considers that credit risk increases significantly if the credit rating deteriorates to a non-investment grade rating. The probability of default (PD) and loss given default (LGD) are determined for the investments on an individual basis, using available public corporate PD and LGD assessments of the securities performed by credit rating agencies, which incorporate both historical and forward-looking information, according to market standards. Forward-looking information includes credit rating outlooks and economic forecast measured using country GDP and CDS. Liquidity risk As all funding has been exclusively obtained from the shareholders and there are no external borrowings, the Group does not incur an interest rate risk in this regard. Based on the cash flow forecast for 2025 and 2026, the Group has sufficient liquidity as of June 30, 2024 for the next twelve months.

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Commitments and contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and contingencies
Commitments and contingencies	32 Commitments and contingencies Tax contingencies The Group has contingent liabilities related to potential tax claims arising in the ordinary course of business. As of June 30, 2024, there are ongoing tax audits in various countries. Some of these tax inquiries have resulted in re-assessments, whilst others are still at an early stage and no re-assessment has yet been raised. Management is required to make estimates and judgments about the ultimate outcome of these investigations or litigation in determining legal provisions. Final claims or court rulings may differ from management estimates. In addition, Management is required to make estimates and judgements about the ultimate outcome of other tax risks that have not led to an investigation or litigation but that, based on Management’s own assessment, may lead to potential tax claims. As of June 30, 2024, the Group has accruals for net tax provisions (excluding Uncertainty over Income Tax payables in accordance with IFRIC 23 interpretation) in the amount of USD11,635 thousand (December 31, 2023: USD15,288 thousand) as a result of the assessment of potential exposures due to uncertain tax positions as well as pending and resolved matters with the relevant tax authorities (Note 19). Additionally, as of June 30, 2024 Uncertainty over Income Tax payables in accordance with IFRIC 23 interpretation amounts to USD12,031 thousand (December 31, 2023: USD12,880 thousand) In addition to the above tax risks, in common with other international groups, the conflict between the Group’s international operating model, the jurisdictional approach of tax authorities and some domestic tax requirements in relation to withholding tax and VAT compliance and recoverability rules, could lead to a further USD21,403 thousand in additional uncertainty on tax positions. The likelihood of future economic outflows with regard to these potential tax claims is however considered as only possible, but not probable. Accordingly, no provision for a liability has been made in these consolidated financial statements. The Group may also be subject to other tax claims for which the risk of future economic outflows is currently evaluated to be remote. Commitments The Group has committed to allocate USD12.5 million to a service supplier by November 2024 and USD13.0 million by November 2025. As of June 30, 2024, USD1.7 million has already been paid.

v3.24.2.u1

Subsequent events	6 Months Ended
	Jun. 30, 2024
Disclosure of non-adjusting events after reporting period [abstract]
Subsequent events	33 Subsequent events Management has not identified events occurred after June 30, 2024, for which, due to their materiality, additional disclosure in the Notes to the unaudited interim condensed financial statements is required.

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Basis of preparation (Policies)	6 Months Ended
	Jun. 30, 2024
Summary of significant accounting policies
Basis of preparation	These unaudited condensed interim consolidated financial statements for the quarterly reporting period ended June 30, 2024 have been prepared in accordance with International Financial Reporting Standards («IFRS») applicable to the preparation of interim financial statements, including International Accounting Standard («IAS») 34, Interim Financial Reporting, as issued by the International Accounting Standard Board («IASB»). Our business is seasonal and, consequently, our results tend to fluctuate from quarter to quarter. However, the comparability of the Group's results and financial position of the interim period, is not significantly affected by the level of seasonality. The interim report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the consolidated financial statements for the year ended December 31, 2023. The accounting policies adopted are consistent with those of the previous financial year and corresponding interim reporting period, except for the adoption of the new standards effective as of January 1, 2024 (Note 4 a)). The interim condensed consolidated financial statements are presented in US dollars and all values are rounded to the nearest thousand ($000), except when otherwise indicated.

v3.24.2.u1

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2024
Disclosure of detailed information about property, plant and equipment [abstract]
Schedule of movements in the carrying amount of property and equipment	Movements in the carrying amount of property and equipment were as follows: In thousands of USD Buildings Technical equipment and machinery Transportation equipment, office equipment and other equipment Right of use assets - Office and Warehouse Total Cost Balance as of December 31, 2023 2,483  5,263  18,524  20,593  46,863  Additions 139  418  408  6,547  7,512  Lease modifications —  —  —  (2,803) (2,803) Disposals (613) (283) (3,190) —  (4,086) Impairment (111) —  (126) —  (237) Effect of translation (132) (548) (2,640) (1,932) (5,252) Balance as of June 30, 2024 1,766  4,850  12,976  22,405  41,997  Accumulated depreciation Balance as of December 31, 2023 (1,849) (3,196) (13,118) (14,339) (32,502) Depreciation charge (127) (394) (1,179) (2,178) (3,878) Accumulated depreciation on disposals 586  158  2,952  —  3,696  Lease modifications —  —  —  2,598  2,598  Effect of translation 84  259  1,771  824  2,938  Balance as of June 30, 2024 (1,306) (3,173) (9,574) (13,095) (27,148) Carrying amount as of December 31, 2023 634  2,067  5,406  6,254  14,361  Carrying amount as of June 30, 2024 460  1,677  3,402  9,310  14,849
Schedule of lease liabilities and movements during the period	Set out below, are the carrying amounts of the Group’s right-of-use assets and lease liabilities and the movements during the period: In thousands of USD Right of use assets Lease Liabilities As of December 31, 2023 6,254  6,075  Additions 6,547  5,426  Depreciation (2,178) —  Interest expense —  566  Lease modifications (205) (268) Payments —  (2,824) Effect of translation (1,108) (726) As of June 30, 2024 9,310  8,249

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Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Classes of current inventories [abstract]
Schedule of inventory components and movement in the provision	Inventories are comprised of the following: As of In thousands of USD December 31, 2023 June 30, 2024 Merchandise available for sale 10,868  8,277  Less: Provision for slow moving and obsolete inventories (1,169) (1,038) Total Inventories 9,699  7,239

v3.24.2.u1

Cash and cash equivalents (Tables)	6 Months Ended
	Jun. 30, 2024
Cash and cash equivalents [abstract]
Schedule of cash and cash equivalents	Cash and cash equivalents are comprised of the following: As of In thousands of USD December 31, 2023 June 30, 2024 Cash at bank and in hand 29,367  41,800  Short-term deposits 6,116  3,257  Total Cash and cash equivalents 35,483  45,057

v3.24.2.u1

Term deposits and other financial assets (Tables)	6 Months Ended
	Jun. 30, 2024
Term Deposits
Schedule of term deposits	Term deposits and other financial assets are comprised of the following: As of In thousands of USD December 31, 2023   June 30, 2024 Financial assets at fair value through OCI 84,023  46,782  Short term deposits - banks 1,065  965  Term Deposits and other financial assets 85,088  47,747
Schedule of other financial assets	Other financial assets comprised the following: As of In thousands of USD December 31, 2023 June 30, 2024 Current financial assets measured at fair value through other comprehensive income 84,023  46,782  Other financial assets – current 84,023  46,782
Schedule of financial assets at fair value through FVOCI of allowance for ECL of other financial assets	The movement in the fair value reserve for financial assets at fair value through other comprehensive income (“FVOCI”), including the allowance for expected credit losses (“ECL”), is as follows: In thousands of USD OCI on financial assets at fair value Balance as of December 31, 2023 (5,820) Changes in fair value of financial assets 619  Deferred tax assets on fair value loss through other comprehensive income (877) Reclassification from fair value reserve to profit or loss of the period due to maturity or sale of financial assets 3,427  Changes in allowance for expected credit losses - reversal (17) Changes recognized in other comprehensive income of the period (Note 14) 3,152  Balance as of June 30, 2024 (2,668)

v3.24.2.u1

Trade and other receivables (Tables)	6 Months Ended
	Jun. 30, 2024
Trade and other current receivables [abstract]
Schedule of trade and other receivables	Trade and other receivables are comprised of the following: As of In thousands of USD December 31, 2023 June 30, 2024 Advances to suppliers 2,667  3,934  Trade notes and accounts receivable 16,357  12,125  Unbilled revenues 6,786  573  Other receivables 2,448  1,372  28,258  18,004  Less: Allowance for expected credit loss (5,101) (3,877) Trade and other receivables 23,157  14,127
Schedule of movement of allowance for expected credit losses of trade notes and accounts receivables and other receivables	The movement of allowance for expected credit losses (“ECL”) of trade and other receivables is as follows: In thousands of USD ECL of trade and other receivables Balance as of December 31, 2023 5,101  Provision for expected credit losses (76) Write-off (726) Effect of translation (422) Balance as of June 30, 2024 3,877

v3.24.2.u1

Share capital and share premium (Tables)	6 Months Ended
	Jun. 30, 2024
Disclosure of classes of share capital [abstract]
Schedule of share capital structure	Ordinary shares issued and fully paid as of June 30, 2024 Number of shares Class Par value (EUR) Share capital (in thousands of USD) Share premium (in thousands of USD) Total 204,470,178 Ordinary 1 239,163 1,736,469 1,975,632 Total 1 239,163 1,736,469 1,975,632 Ordinary shares issued and fully paid as of December 31, 2023 Number of shares Class Par value (EUR) Share capital (in thousands of USD) Share premium (in thousands of USD) Total 202,277,366 Ordinary 1 236,800 1,736,469 1,973,269 Total 1 236,800 1,736,469 1,973,269

v3.24.2.u1

Other Reserves (Tables)	6 Months Ended
	Jun. 30, 2024
Disclosure of reserves within equity [abstract]
Schedule of other reserves	In thousands of USD Share-based payment capital reserves Exchange difference on net investment in foreign operations Fair value reserve of financial assets at FVOCI Currency translation adjustment Total other reserves As of December 31, 2023 188,249 (576,733) (5,820) 555,033 160,729 Other comprehensive (loss) / income — (190,348) 3,152  202,626  15,430  Total comprehensive (loss) / income for the period — (190,348) 3,152 202,626 15,430 Share-based payments 3,560 — — — 3,560 Exercise of options (2,361) — — — (2,361) As of June 30, 2024 189,448 (767,081) (2,668) 757,659 177,358

v3.24.2.u1

Trade and other payables (Tables)	6 Months Ended
	Jun. 30, 2024
Trade and other current payables [abstract]
Schedule of trade and other payables	Trade and other payables are comprised of the following: As of In thousands of USD December 31, 2023   June 30, 2024 Trade payables 20,780  19,285  Invoices not yet received 15,246  11,962  Accrued employee benefit costs 9,191  8,569  Share-based compensation - Cash settled payable 206  310  Trade Deposits 730  617  Sundry accruals 9,397  7,744  Trade and Other Payables 55,550  48,487  Current 55,425  48,432  Non-current 125  55

v3.24.2.u1

Borrowings (Tables)	6 Months Ended
	Jun. 30, 2024
Financial Instruments [Abstract]
Schedule of lease liabilities	Lease liabilities are presented in the statement of financial position as follows: As of In thousands of USD December 31, 2023 June 30, 2024 Current 3,718  2,725  Non-current 2,357  5,524  Total Lease liabilities 6,075  8,249
Schedule of future minimum lease payments under non-cancellable operating leases	Set out below is the maturity of the lease liabilities classified as non-current: In thousands of USD One to five years More than five years Total Lease liability future payments 5,524  —  5,524
Schedule of changes in liabilities arising from financing activities	In thousands of USD December 31, 2023 Additions and modifications Payments Reclassification Effect of translation June 30, 2024 Current lease liabilities 3,718  1,208  (2,824) 838  (215) 2,725  Non-current lease liabilities 2,357  4,516  —  (838) (511) 5,524  Total liabilities from financing activities 6,075  5,724  (2,824) —  (726) 8,249

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Other taxes receivable & Other taxes payable (Tables)	6 Months Ended
	Jun. 30, 2024
Other taxes payable & Other taxes receivable
Schedule of other taxes receivable and other taxes payable	Other taxes receivable are comprised of the following: As of In thousands of USD December 31, 2023 June 30, 2024 Value added taxes 8,785  8,450  Other taxes receivable 79  11  Other taxes receivable 8,864  8,461  Current 4,143  4,354  Non-Current 4,721  4,107  Other taxes payable are comprised of the following: As of In thousands of USD December 31, 2023 June 30, 2024 Value added taxes 10,106  9,519  Withholding Tax 11,840  11,921  Other taxes payable 1,980  506  Other taxes payable 23,926  21,946  Current 23,452  21,084  Non-Current 474  862

v3.24.2.u1

Provision for liabilities and other charges (Tables)	6 Months Ended
	Jun. 30, 2024
Disclosure of other provisions [abstract]
Schedule of movements in provisions for liabilities and other charges	Movements in provisions for liabilities and other charges are as follows: In thousands of USD Uncertain tax positions Marketplace and consignment goods Provision for other expenses Total Balance as of December 31, 2023 15,288  454  3,191  18,933  Additions 277  —  425  702  Reversals (875) (49) (59) (983) Use of provision (1,324) —  —  (1,324) Effect of translation (1,731) (97) (285) (2,113) Balance as of June 30, 2024 11,635  308  3,272  15,215  Current 11,635  308  2,818  14,761  Non-current —  —  454  454

v3.24.2.u1

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue [abstract]
Summary of revenue	Revenue is comprised of the following: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 First-party sales 21,129  16,110  38,497  38,541  Commissions 9,158  10,246  18,900  27,505  Fulfillment 4,569  3,788  9,402  7,435  Value added services 4,879  3,575  11,057  7,085  Marketing and advertising 3,691  2,437  6,290  3,892  Other revenue 606  318  1,135  909  Revenue 44,032  36,474  85,281  85,367  The Group’s geographical distribution of revenue was as follows: Revenue For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 West Africa(1) 20,621  17,121  40,907  36,114  North Africa(2) 17,133  13,089  32,028  38,346  East and South Africa(3) 6,078  6,208  11,827  10,671  Europe(4) 13  16  1  186  United Arab Emirates 187  32  514  34  Others —  8  4  16  Total 44,032  36,474  85,281  85,367  ___________________________ (1)West Africa covers Nigeria, Ivory Coast, Senegal and Ghana. (2)North Africa covers Egypt, Tunisia, Morocco and Algeria. (3)East and South Africa covers Kenya, Uganda and South Africa. (4)Germany.

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Fulfillment expense (Tables)	6 Months Ended
	Jun. 30, 2024
Fulfillment expense
Schedule of fulfillment expense	Fulfillment expense is comprised of the following: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Fulfillment staff costs 3,274  2,543  6,882  5,601  Fulfillment centers expense 774  551  1,586  918  Freight and shipping expense 6,564  6,228  13,961  12,181  Fulfillment expense 10,612  9,322  22,429  18,700

v3.24.2.u1

Sales and advertising expense (Tables)	6 Months Ended
	Jun. 30, 2024
Sales and advertising expense
Schedule of sales and advertisement expenses	Sales and advertising expense is comprised of the following: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Staff costs 1,830  1,359  3,760  2,887  Advertising campaigns 3,217  2,659  6,211  4,473  Selling expenses 425  405  840  805  Sales and advertising expense 5,472  4,423  10,811  8,165

v3.24.2.u1

Technology and content expense (Tables)	6 Months Ended
	Jun. 30, 2024
Technology and content expense
Schedule of technology and content expense	Technology and content expense is comprised of the following: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Staff Costs 4,660  3,112  9,828  6,961  Technology license and maintenance expenses 6,035  5,610  12,050  10,870  Technology and content expense 10,695  8,722  21,878  17,831

v3.24.2.u1

General and administrative expense (Tables)	6 Months Ended
	Jun. 30, 2024
General and administrative expense [Abstract]
Schedule of general and administrative expense	General and administrative expense is comprised of the following: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Staff Costs 10,816  9,581  23,169  20,488  Occupancy Costs 547  352  1,065  740  Professional fees 2,682  2,808  5,079  4,949  Travel and entertainment 462  498  952  1,061  Office and related expenses 1,698  1,079  3,486  2,195  Bank fees & payment costs 115  140  297  322  Bad debt expense 5  (15) (216) (32) Tax expense / (reversal) (1,580) 1,587  2,234  986  Depreciation and amortization 2,608  2,033  5,436  3,914  Other general and administrative expense 1,174  1,145  2,187  2,037  General and administrative expense 18,527  19,208  43,689  36,660

v3.24.2.u1

Finance income and finance costs (Tables)	6 Months Ended
	Jun. 30, 2024
Finance income and finance costs
Schedule of finance income and finance costs	Finance income and finance costs comprise of the following: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Foreign exchange gain / (loss) 1,682  (86) 3,333  650  Interest and similar income 490  286  762  524  Interest income from financial assets at fair value through OCI 712  142  1,625  584  Fair value gain on financial assets at fair value through profit or loss —  —  237  —  Other income 11  349  55  226  Finance income 2,895  691  6,012  1,984  Foreign exchange loss 9,866  94  13,459  14,095  Interest and similar expense 279  439  630  1,932  Fair value loss on financial assets at fair value through profit and loss —  65  —  16,163  Loss recognized on disposal of debt instruments held at fair value through OCI (Note 10) 1,372  2,196  1,372  3,427  Other charges 172  155  157  (73) Finance costs 11,689  2,949  15,618  35,544

v3.24.2.u1

Income tax (Tables)	6 Months Ended
	Jun. 30, 2024
Major components of tax expense (income) [abstract]
Schedule of income tax payables	Income tax payables and receivables are comprised of the following: As of In thousands of USD December 31, 2023 June 30, 2024 Income Tax Prepayments 2,000  2,486  Total Income tax receivables 2,000  2,486  Income Tax Payables 547  221  Provision for Income Tax 12,880  12,031  Total Income tax payables 13,427  12,252
Schedule of components of income tax expense	Income tax benefit / (expense) is comprised of the following: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Current tax (expense) / benefit (381) (31) (1,729) (204) Deferred tax (expense) / benefit 550  507  1,799  (342) Total Income tax (expense) / benefit 169  476  70  (546)

v3.24.2.u1

Earnings per share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings per share [abstract]
Schedule of loss and share data used in the EPS calculations	The following table reflects the loss and share data used in the basic and diluted EPS calculations from continuous operations: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Numerator Loss for the period from continuing operations (30,690) (22,012) (60,031) (62,669) Less: net loss attributable to non-controlling interest from continuing operations (14) (8) (23) (15) Loss attributable to Equity of the Company from continuing operations (30,676) (22,004) (60,008) (62,654) Denominator Weighted average number of shares for basic and diluted EPS 201,348,650 203,688,733 201,290,284 202,988,661 Loss per share from continuing operations - basic and diluted (0.15) (0.11) (0.30) (0.31) The following table reflects the loss and share data used in the basic and diluted EPS calculations from discontinued operations: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Numerator Loss for the period from discontinued operations (1,201) —  (3,629) —  Loss attributable to Equity of the Company from discontinued operations (1,201) —  (3,629) —  Denominator Weighted average number of shares for basic and diluted EPS 201,348,650 203,688,733 201,290,284 202,988,661 Loss per share from discontinued operations - basic and diluted (0.01) —  (0.02) —  The following table reflects the loss and share data used in the basic and diluted EPS calculations: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Numerator Loss for the period (31,891) (22,012) (63,660) (62,669) Less: net loss attributable to non-controlling interest (14) (8) (23) (15) Loss attributable to Equity of the Company (31,877) (22,004) (63,637) (62,654) Denominator Weighted average number of shares for basic and diluted EPS 201,348,650 203,688,733 201,290,284 202,988,661 Loss per share - basic and diluted (0.16) (0.11) (0.32) (0.31)

v3.24.2.u1

Transactions and balances with related parties (Tables)	6 Months Ended
	Jun. 30, 2024
Disclosure of transactions between related parties [abstract]
Schedule of compensation paid or payable to key management	The compensation paid or payable to key management for employee services is shown below: For the three months ended June 30 For the six months ended June 30 In thousands of USD 2023 2024 2023 2024 Short-term employee benefits 765  945  1,576  1,757  Other benefits 14  15  48  30  Share-based compensation 326  453  792  1,162  Total 1,105  1,413  2,416  2,949

v3.24.2.u1

Significant changes in the current reporting period (Details)	6 Months Ended
	Jun. 30, 2024
Egyptian Pound (EGP)
Disclosure Of Summary Of Significant Accounting Policies [Line Items]
Accumulated devaluation	55.00%
Nigerian Naira (NGN)
Disclosure Of Summary Of Significant Accounting Policies [Line Items]
Accumulated devaluation	71.00%

v3.24.2.u1

Property and Equipment - Carrying amount of property and equipment (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Reconciliation of changes in property, plant and equipment [abstract]
Beginning Balance	$ 14,361
Ending Balance	14,849
Gross Carrying Amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning Balance	46,863
Additions	7,512
Lease modifications	(2,803)
Accumulated depreciation on disposals	(4,086)
Impairment	(237)
Effect of translation	(5,252)
Ending Balance	41,997
Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning Balance	(32,502)
Lease modifications	2,598
Accumulated depreciation on disposals	3,696
Effect of translation	2,938
Depreciation charge	(3,878)
Ending Balance	(27,148)
Buildings
Reconciliation of changes in property, plant and equipment [abstract]
Beginning Balance	634
Ending Balance	460
Buildings | Gross Carrying Amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning Balance	2,483
Additions	139
Lease modifications	0
Accumulated depreciation on disposals	(613)
Impairment	(111)
Effect of translation	(132)
Ending Balance	1,766
Buildings | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning Balance	(1,849)
Lease modifications	0
Accumulated depreciation on disposals	586
Effect of translation	84
Depreciation charge	(127)
Ending Balance	(1,306)
Technical equipment and machinery
Reconciliation of changes in property, plant and equipment [abstract]
Beginning Balance	2,067
Ending Balance	1,677
Technical equipment and machinery | Gross Carrying Amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning Balance	5,263
Additions	418
Lease modifications	0
Accumulated depreciation on disposals	(283)
Impairment	0
Effect of translation	(548)
Ending Balance	4,850
Technical equipment and machinery | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning Balance	(3,196)
Lease modifications	0
Accumulated depreciation on disposals	158
Effect of translation	259
Depreciation charge	(394)
Ending Balance	(3,173)
Transportation equipment, office equipment and other equipment
Reconciliation of changes in property, plant and equipment [abstract]
Beginning Balance	5,406
Ending Balance	3,402
Transportation equipment, office equipment and other equipment | Gross Carrying Amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning Balance	18,524
Additions	408
Lease modifications	0
Accumulated depreciation on disposals	(3,190)
Impairment	(126)
Effect of translation	(2,640)
Ending Balance	12,976
Transportation equipment, office equipment and other equipment | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning Balance	(13,118)
Lease modifications	0
Accumulated depreciation on disposals	2,952
Effect of translation	1,771
Depreciation charge	(1,179)
Ending Balance	(9,574)
Right of use assets - Office and Warehouse
Reconciliation of changes in property, plant and equipment [abstract]
Beginning Balance	6,254
Ending Balance	9,310
Right of use assets - Office and Warehouse | Gross Carrying Amount
Reconciliation of changes in property, plant and equipment [abstract]
Beginning Balance	20,593
Additions	6,547
Lease modifications	(2,803)
Accumulated depreciation on disposals	0
Impairment	0
Effect of translation	(1,932)
Ending Balance	22,405
Right of use assets - Office and Warehouse | Accumulated depreciation
Reconciliation of changes in property, plant and equipment [abstract]
Beginning Balance	(14,339)
Lease modifications	2,598
Accumulated depreciation on disposals	0
Effect of translation	824
Depreciation charge	(2,178)
Ending Balance	$ (13,095)

v3.24.2.u1

Property and Equipment - Leases (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Right of use assets
Right-of-use assets, beginning of period	$ 6,254
Additions, right-of-use assets	6,547
Depreciation, right-of-use assets	(2,178)
Lease modifications, right of use assets	(205)
Effect of translation, right of use assets	(1,108)
Right-of-use assets, end of period	9,310
Lease Liabilities
Lease liabilities, beginning of period	6,075
Additions, lease liabilities	5,426
Interest expense, lease liabilities	566
Lease modifications, lease liabilities	(268)
Payments, lease liabilities	(2,824)
Effect of translation, lease liabilities	(726)
Lease liabilities, end of period	$ 8,249

v3.24.2.u1

Deferred Tax Assets and Liabilities - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax assets	$ 517	$ 531
Deferred tax liabilities	1,381	$ 204
Financial assets measured at fair value through other comprehensive income, category
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax expense (income) recognised in profit or loss	877
Financial assets at fair value through profit or loss
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax expense (income) recognised in profit or loss	$ 342

v3.24.2.u1

Other non-current assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Other Non-current Assets [Line Items]
Other non-current assets	$ 979	$ 1,289
Rent, Trade and Other Term Deposits
Other Non-current Assets [Line Items]
Other non-current assets	938	1,245
Miscellaneous Other Non-Current Assets
Other Non-current Assets [Line Items]
Other non-current assets	$ 41	$ 44

v3.24.2.u1

Inventories - Components (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Disclosure Of Inventory [Line Items]
Inventories	$ 7,239	$ 9,699
Merchandise available for sale
Disclosure Of Inventory [Line Items]
Inventories	8,277	10,868
Less: Provision for slow moving and obsolete inventories
Disclosure Of Inventory [Line Items]
Inventories	$ (1,038)	$ (1,169)

v3.24.2.u1

Inventories - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Classes of current inventories [abstract]
Cost of inventories recognised as expense during period			$ 32,129
Cost of revenue	$ (14,895)	$ (21,141)	(32,604)	$ (37,483)
Inventory write-down			575
Reversal of inventory write-down			$ 159

v3.24.2.u1

Cash and cash equivalents (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Cash and cash equivalents [abstract]
Cash at bank and in hand	$ 41,800		$ 29,367
Short-term deposits	3,257		6,116
Total Cash and cash equivalents	45,057	$ 28,627	35,483	$ 61,040	$ 86,861	$ 71,579
Restricted cash in cash and cash equivalents	$ 0		$ 0

v3.24.2.u1

Term deposits and other financial assets - Term deposits (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Disclosure of financial assets [line items]
Term deposits and other financial assets	$ 47,747	$ 85,088
Financial assets at fair value through OCI
Disclosure of financial assets [line items]
Term deposits and other financial assets	46,782	84,023
Short term deposits - banks
Disclosure of financial assets [line items]
Term deposits and other financial assets	$ 965	$ 1,065

v3.24.2.u1

Term deposits and other financial assets - Other financial assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Disclosure of financial assets [line items]
Other financial assets – current	$ 46,782	$ 84,023
Current financial assets measured at fair value through other comprehensive income
Disclosure of financial assets [line items]
Other financial assets – current	$ 46,782	$ 84,023

v3.24.2.u1

Term deposits and other financial assets - Fair value reserve (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Movement In Fair Value Reserve For Financial Assets At Fair Value Through Other Comprehensive Income [Roll Forward]
Changes recognized in other comprehensive income of the period (Note 14)	$ 1,771	$ 366	$ 3,152	$ 619
Financial assets at fair value through OCI
Movement In Fair Value Reserve For Financial Assets At Fair Value Through Other Comprehensive Income [Roll Forward]
Beginning balance			(5,820)
Changes in fair value of financial assets			619
Deferred tax assets on fair value loss through other comprehensive income			(877)
Reclassification from fair value reserve to profit or loss of the period due to maturity or sale of financial assets			3,427
Changes in allowance for expected credit losses - reversal			(17)
Changes recognized in other comprehensive income of the period (Note 14)			3,152
Ending balance	$ (2,668)		$ (2,668)

v3.24.2.u1

Trade and other receivables - Components (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Disclosure of detailed information about financial instruments [line items]
Advances to suppliers	$ 3,934	$ 2,667
Trade notes and accounts receivable	12,125	16,357
Unbilled revenues	573	6,786
Other receivables	1,372	2,448
Financial assets	18,004	28,258
Trade and other receivables	14,127	23,157
Accumulated Impairment
Disclosure of detailed information about financial instruments [line items]
Financial assets	$ (3,877)	$ (5,101)

v3.24.2.u1

Trade and other receivables - ECL (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Reconciliation of changes in allowance account for credit losses of financial assets [abstract]
Beginning balance	$ (28,258)
Ending balance	(18,004)
Accumulated Impairment
Reconciliation of changes in allowance account for credit losses of financial assets [abstract]
Beginning balance	5,101
Ending balance	3,877
ECL of trade and other receivables | Accumulated Impairment
Reconciliation of changes in allowance account for credit losses of financial assets [abstract]
Beginning balance	5,101
Provision for expected credit losses	(76)
Write-off	(726)
Effect of translation	(422)
Ending balance	$ 3,877

v3.24.2.u1

Prepaid expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Prepaid expenses
Prepaid hosting fees and software licenses	$ 4,129	$ 5,155
Prepaid rent	367	2,550
Prepaid insurance	2,396	1,064
Advance payments to the Group's partners for online payment services	89	364
Prepaid insurance and other goods and services	$ 484	$ 337

v3.24.2.u1

Share capital and share premium (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($) vote shares	Dec. 31, 2023 USD ($) vote shares	Jun. 30, 2024 € / shares	Dec. 31, 2023 € / shares
Disclosure of classes of share capital [line items]
Par value per share (in euros per share) | € / shares			€ 1	€ 1
Share capital	$ 239,163	$ 236,800
Share premium	1,736,469	1,736,469
Total share capital and share premium	$ 1,975,632	$ 1,973,269
Ordinary Shares
Disclosure of classes of share capital [line items]
Number of ordinary shares issued (in shares) | shares	204,470,178	202,277,366
Par value per share (in euros per share) | € / shares			€ 1	€ 1.00
Share capital	$ 239,163	$ 236,800
Share premium	1,736,469	1,736,469
Total share capital and share premium	$ 1,975,632	$ 1,973,269
Number of shares authorised (in shares) | shares	204,470,178	202,277,366
Number of votes per share | vote	1	1
Ordinary Shares | Settlement of Equity Programs
Disclosure of classes of share capital [line items]
Shares issued during the period (in shares) | shares	2,192,812	1,044,806
Shares issued, transaction costs	$ 32	$ 24

v3.24.2.u1

Other Reserves (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Changes in Reserves
Beginning balance			$ 160,729
Other comprehensive (loss) / income	$ 2,973	$ (6,246)	15,443	$ (6,889)
Total comprehensive loss for the period	(19,039)	$ (38,137)	(47,226)	(70,549)
Share-based payments			3,560	2,150
Exercise of options			2
Ending balance	177,358		177,358
Total other reserves
Changes in Reserves
Beginning balance			160,729
Other comprehensive (loss) / income			15,430	(6,878)
Total comprehensive loss for the period			15,430	(6,878)
Share-based payments			3,560	$ 2,151
Exercise of options			(2,361)
Ending balance	177,358		177,358
Share-based payment capital reserves
Changes in Reserves
Beginning balance			188,249
Share-based payments			3,560
Exercise of options			(2,361)
Ending balance	189,448		189,448
Exchange difference on net investment in foreign operations
Changes in Reserves
Beginning balance			(576,733)
Other comprehensive (loss) / income			(190,348)
Total comprehensive loss for the period			(190,348)
Ending balance	(767,081)		(767,081)
Fair value reserve of financial assets at FVOCI
Changes in Reserves
Beginning balance			(5,820)
Other comprehensive (loss) / income			3,152
Total comprehensive loss for the period			3,152
Ending balance	(2,668)		(2,668)
Currency translation adjustment
Changes in Reserves
Beginning balance			555,033
Other comprehensive (loss) / income			202,626
Total comprehensive loss for the period			202,626
Ending balance	$ 757,659		$ 757,659

v3.24.2.u1

Share-based compensation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of terms and conditions of share-based payment arrangement [abstract]
Total share-based payment expense recognized	$ 1,650	$ 1,302	$ 3,806	$ 2,252

v3.24.2.u1

Trade and other payables - Components (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Trade and other current payables [abstract]
Trade payables	$ 19,285	$ 20,780
Invoices not yet received	11,962	15,246
Accrued employee benefit costs	8,569	9,191
Share-based compensation - Cash settled payable	310	206
Trade Deposits	617	730
Sundry accruals	7,744	9,397
Trade and Other Payables	48,487	55,550
Current	48,432	55,425
Non-current	$ 55	$ 125

v3.24.2.u1

Borrowings - Lease liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Lease Liabilities
Current	$ 2,725	$ 3,718
Non-current	5,524	2,357
Total Lease liabilities	8,249	$ 6,075
One to five years
Lease Liabilities
Non-current	5,524
More than five years
Lease Liabilities
Non-current	$ 0

v3.24.2.u1

Borrowings - Lease liabilities rollforward (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Disclosure of quantitative information about leases for lessee [abstract]
Current lease liabilities at beginning of period	$ 3,718
Additions and modifications, current	1,208
Payments, current	(2,824)
Reclassifications, current	838
Effect of translation, current	(215)
Current lease liabilities at end of period	2,725
Non-current lease liabilities at beginning of period	2,357
Additions and modifications, non-current	4,516
Payments, non-current	0
Reclassifications, non-current	(838)
Effect of translation, non-current	(511)
Non-current lease liabilities at end of period	5,524
Lease liabilities, beginning of period	6,075
Additions and modifications, total	5,724
Payments, total	(2,824)
Reclassifications, total	0
Effect of translation, total	(726)
Lease liabilities, end of period	8,249
Accrued interest	$ 566

v3.24.2.u1

Other taxes receivable & Other taxes payable - Components (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Other taxes receivable:
Value added taxes	$ 8,450	$ 8,785
Other taxes receivable	11	79
Other taxes receivable	8,461	8,864
Current	4,354	4,143
Non-Current	4,107	4,721
Other taxes payable:
Value added taxes	9,519	10,106
Withholding Tax	11,921	11,840
Other taxes payable	506	1,980
Other taxes payable	21,946	23,926
Current	21,084	23,452
Non-Current	$ 862	$ 474

v3.24.2.u1

Provisions for liabilities and other charges (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Aug. 06, 2024	Jun. 30, 2024	Dec. 31, 2023
Changes in Reserves
Balance at beginning	$ 15,215	$ 18,933
Additions		702
Reversals		(983)
Use of provision		(1,324)
Effect of translation		(2,113)
Balance at ending		15,215
Current		14,761	$ 18,420
Non-current		454	514
Claim Settlement
Changes in Reserves
Use of provision	(1,800)
Uncertain tax positions
Changes in Reserves
Balance at beginning	11,635	15,288
Additions		277
Reversals		(875)
Use of provision		(1,324)
Effect of translation		(1,731)
Balance at ending		11,635
Current		11,635
Non-current		0
Provision for Value-Added Tax
Changes in Reserves
Balance at beginning	1,880	3,253
Balance at ending		1,880
Provisions related to Withholding Tax
Changes in Reserves
Balance at beginning	9,117	10,758
Balance at ending		9,117
Provisions related to Other Taxes
Changes in Reserves
Balance at beginning	638	1,277
Balance at ending		638
Marketplace and consignment goods
Changes in Reserves
Balance at beginning	308	454
Additions		0
Reversals		(49)
Use of provision		0
Effect of translation		(97)
Balance at ending		308
Current		308
Non-current		0
Provision for other expenses
Changes in Reserves
Balance at beginning	$ 3,272	3,191
Additions		425
Reversals		(59)
Use of provision		0
Effect of translation		(285)
Balance at ending		3,272
Current		2,818
Non-current		454
End of service benefits provision		454	631
Litigation and penalty provisions		$ 2,818	$ 2,561

v3.24.2.u1

Deferred income (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Accruals and deferred income including contract liabilities [abstract]
Contract liabilities	$ 14,943	$ 2,712
Variable consideration	1,231	0
Deferred income other than contract liabilities	$ 186	$ 390
Deferred income, period	5 years

v3.24.2.u1

Revenue - Components (Details) $ in Thousands	3 Months Ended		6 Months Ended			12 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) customer	Jun. 30, 2023 USD ($) customer	Jun. 30, 2022 customer	Dec. 31, 2023 segment
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 36,474	$ 44,032	$ 85,367	$ 85,281
Number of operating segments | segment						1
Number of reportable segments | segment						1
Number of customers individually representing more than 5 per cent of entity's revenues | customer			0	0	0
Threshold percentage for reporting individual customer revenue			10.00%	10.00%	10.00%
First-party sales
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	16,110	21,129	$ 38,541	$ 38,497
Commissions
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	10,246	9,158	27,505	18,900
Fulfillment
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	3,788	4,569	7,435	9,402
Value added services
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	3,575	4,879	7,085	11,057
Marketing and advertising
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	2,437	3,691	3,892	6,290
Other revenue
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 318	$ 606	$ 909	$ 1,135

v3.24.2.u1

Revenue - Geographical Distribution Of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 36,474	$ 44,032	$ 85,367	$ 85,281
West Africa
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	17,121	20,621	36,114	40,907
North Africa
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	13,089	17,133	38,346	32,028
East and South Africa
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	6,208	6,078	10,671	11,827
Europe
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	16	13	186	1
United Arab Emirates
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	32	187	34	514
Others
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	$ 8	$ 0	$ 16	$ 4

v3.24.2.u1

Fulfillment expense (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of attribution of expenses by nature to their function [line items]
Fulfillment expense	$ 9,322	$ 10,612	$ 18,700	$ 22,429
Fulfillment expense per order basis (in dollars per share)			$ 2.28	$ 2.78
Fulfillment expense
Disclosure of attribution of expenses by nature to their function [line items]
Fulfillment staff costs	2,543	3,274	$ 5,601	$ 6,882
Fulfillment centers expense	551	774	918	1,586
Freight and shipping expense	6,228	6,564	12,181	13,961
Fulfillment expense	$ 9,322	$ 10,612	$ 18,700	$ 22,429
Percentual decrease in expenses (as a percent)			16.60%

v3.24.2.u1

Sales and advertising expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of attribution of expenses by nature to their function [line items]
Sales and advertising expense	$ 4,423	$ 5,472	$ 8,165	$ 10,811
Sales and marketing expense
Disclosure of attribution of expenses by nature to their function [line items]
Staff costs	1,359	1,830	2,887	3,760
Advertising campaigns	2,659	3,217	4,473	6,211
Selling expenses	405	425	805	840
Sales and advertising expense	$ 4,423	$ 5,472	$ 8,165	$ 10,811
Percentual decrease in expenses (as a percent)			24.50%

v3.24.2.u1

Technology and content expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of attribution of expenses by nature to their function [line items]
Technology and content expense	$ 8,722	$ 10,695	$ 17,831	$ 21,878
Technology and content expense
Disclosure of attribution of expenses by nature to their function [line items]
Staff Costs	3,112	4,660	6,961	9,828
Technology license and maintenance expenses	5,610	6,035	10,870	12,050
Technology and content expense	$ 8,722	$ 10,695	$ 17,831	$ 21,878
Percentual decrease in expenses (as a percent)			18.50%

v3.24.2.u1

General and administrative expense - Components (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of attribution of expenses by nature to their function [line items]
General and administrative expense	$ 19,208	$ 18,527	$ 36,660	$ 43,689
General and administrative expense
Disclosure of attribution of expenses by nature to their function [line items]
Staff costs	9,581	10,816	20,488	23,169
Occupancy Costs	352	547	740	1,065
Professional fees	2,808	2,682	4,949	5,079
Travel and entertainment	498	462	1,061	952
Office and related expenses	1,079	1,698	2,195	3,486
Bank fees & payment costs	140	115	322	297
Bad debt expense	(15)	5	(32)	(216)
Tax expense / (reversal)	1,587	(1,580)	986	2,234
Depreciation and amortization	2,033	2,608	3,914	5,436
Other general and administrative expense	1,145	1,174	2,037	2,187
General and administrative expense	$ 19,208	$ 18,527	$ 36,660	$ 43,689

v3.24.2.u1

General and administrative expense - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disclosure of attribution of expenses by nature to their function [line items]
Total share-based payment expense recognized	$ 1,650	$ 1,302	$ 3,806	$ 2,252
General and administrative expense
Disclosure of attribution of expenses by nature to their function [line items]
Total share-based payment expense recognized			3,806	2,252
Insurance expense			$ 1,554	$ 1,876

v3.24.2.u1

Finance income and finance costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Finance income and finance costs
Foreign exchange gain / (loss)	$ (86)	$ 1,682	$ 650	$ 3,333
Interest and similar income	286	490	524	762
Interest income from financial assets at fair value through OCI	142	712	584	1,625
Fair value gain on financial assets at fair value through profit or loss	0	0	0	237
Other income	349	11	226	55
Finance income	691	2,895	1,984	6,012
Foreign exchange loss	94	9,866	14,095	13,459
Interest and similar expense	439	279	1,932	630
Fair value loss on financial assets at fair value through profit and loss	65	0	16,163	0
Loss recognized on disposal of debt instruments held at fair value through OCI (Note 10)	2,196	1,372	3,427	1,372
Other charges	155	172	(73)	157
Finance costs	$ 2,949	$ 11,689	35,544	15,618
Transaction costs			$ 1,372	$ 0

v3.24.2.u1

Income tax - Payables and receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Major components of tax expense (income) [abstract]
Income Tax Prepayments	$ 2,486	$ 2,000
Total Income tax receivables	2,486	2,000
Income Tax Payables	221	547
Provision for Income Tax	12,031	12,880
Total Income tax payables	$ 12,252	$ 13,427

v3.24.2.u1

Income tax - Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Major components of tax expense (income) [abstract]
Current tax (expense) / benefit	$ (31)	$ (381)	$ (204)	$ (1,729)
Deferred tax (expense) / benefit	507	550	(342)	1,799
Total Income tax (expense) / benefit	$ 476	$ 169	$ (546)	$ 70

v3.24.2.u1

Earnings per share - Basic and Diluted EPS Continuing Operation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings per share [abstract]
Loss for the period from continuing operations	$ (22,012)	$ (30,690)	$ (62,669)	$ (60,031)
Less: net loss attributable to non-controlling interest from continuing operations	(8)	(14)	(15)	(23)
Loss attributable to Equity of the Company from continuing operations	$ (22,004)	$ (30,676)	$ (62,654)	$ (60,008)
Denominator
Weighted average number of shares for basic EPS (in shares)	203,688,733	201,348,650	202,988,661	201,290,284
Weighted average number of shares for diluted EPS (in shares)	203,688,733	201,348,650	202,988,661	201,290,284
Loss per share from continuous operations - basic (in dollars per share)	$ (0.11)	$ (0.15)	$ (0.31)	$ (0.30)
Loss per share from continuous operations - diluted (in dollars per share)	$ (0.11)	$ (0.15)	$ (0.31)	$ (0.30)

v3.24.2.u1

Earnings per share - Basic and Diluted EPS Discontinued Operation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings per share [abstract]
Loss for the period from discontinued operations	$ 0	$ (1,201)	$ 0	$ (3,629)
Loss attributable to Equity of the Company from discontinued operations	$ 0	$ (1,201)	$ 0	$ (3,629)
Denominator
Weighted average number of shares for basic EPS (in shares)	203,688,733	201,348,650	202,988,661	201,290,284
Weighted average number of shares for diluted EPS (in shares)	203,688,733	201,348,650	202,988,661	201,290,284
Loss per share from discontinued operations - basic (in dollars per share)	$ 0	$ (0.01)	$ 0	$ (0.02)
Loss per share from discontinued operations - diluted (in dollars per share)	$ 0	$ (0.01)	$ 0	$ (0.02)

v3.24.2.u1

Earnings per share - Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings per share [abstract]
Loss for the period	$ (22,012)	$ (31,891)	$ (62,669)	$ (63,660)
Less: net loss attributable to non-controlling interest	(8)	(14)	(15)	(23)
Loss attributable to Equity of the Company	$ (22,004)	$ (31,877)	$ (62,654)	$ (63,637)
Denominator
Weighted average number of shares for basic EPS (in shares)	203,688,733	201,348,650	202,988,661	201,290,284
Weighted average number of shares for diluted EPS (in shares)	203,688,733	201,348,650	202,988,661	201,290,284
Basic Loss for the period attributable to ordinary equity holders of the parent (in dollars per share)	$ (0.11)	$ (0.16)	$ (0.31)	$ (0.32)
Diluted Loss for the period attributable to ordinary equity holders of the parent (in dollars per share)	$ (0.11)	$ (0.16)	$ (0.31)	$ (0.32)

v3.24.2.u1

Transactions and balances with related parties - Key management (Details) - Key Management Personnel of Entity or Parent - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Deferred income
Short-term employee benefits	$ 945	$ 765	$ 1,757	$ 1,576
Other benefits	15	14	30	48
Share-based compensation	453	326	1,162	792
Total	$ 1,413	$ 1,105	$ 2,949	$ 2,416

v3.24.2.u1

Financial risk management objectives and policies - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Disclosure of risk management strategy related to hedge accounting [line items]
Financial assets	$ (18,004)	$ (28,258)
Expected credit loss allowance recognition period	12 months
Accumulated Impairment
Disclosure of risk management strategy related to hedge accounting [line items]
Financial assets	$ 3,877	5,101
Accumulated Impairment | Trade notes and accounts receivable
Disclosure of risk management strategy related to hedge accounting [line items]
Financial assets	$ 3,877	$ 5,101

v3.24.2.u1

Commitments and contingencies (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Commitments and contingencies
Tax provisions	$ 14,761	$ 18,420
Uncertain tax positions for which no provision has been made	12,031	12,880
Commitments paid to date	1,700
November 2024
Commitments and contingencies
Commitments	12,500
November 2025
Commitments and contingencies
Commitments	13,000
Tax provisions
Commitments and contingencies
Tax provisions	11,635	$ 15,288
Withholding tax and VAT
Commitments and contingencies
Uncertain tax positions for which no provision has been made	$ 21,403

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