The African e-commerce behemoth Jumia sells its North African real estate subsidiary to Mubawab
Mubawab is a market leader when it comes to real estate portals in Morocco. Owned by the Emerging Markets Property Group (EMPG), the Dubai-based company has recently acquired property portal Jumia House, a subsidiary of African e-commerce giant Jumia. Though the amount of the purchase is yet to be disclosed, it is certain that Mubawab will take over Jumia House Maghreb, which currently operates in Morocco, Algeria and Tunisia.
Jumia’s management believes that this operation is going to help the company to concentrate on its core activity of being a “marketplace for physical products and digital services while expanding the scope of our payment and logistics activities,” said Sacha Poignonnec, the co-founder of Jumia.
Jumia, the premium pan-African e-commerce platform, was founded in 2012. The main objective of the organization is to connect seller with consumers in most convenient ways. Its services include shipment and delivery of packages and making payments. These services facilitate transactions in Jumia’s platform in selected marketplaces and among the active participants. Till date, Jumia has partnered with over 81,000 local African companies and employed over 5,000 people.