E-commerce firm Jumia appoints new chief commercial officer

E-commerce platform Jumia has appointed Kenneth Oyolla as its chief commercial officer (CCO), taking over from Diana Owusu-Kyereko.

The former office holder has been promoted to the position of CEO for Jumia Ghana as the firm reorganises amid its plan to cut down on losses.

Mr Oyolla joins Jumia after a stint at the Industrial Promotion Services (IPS) Limited where he held a similar position. In the past, he has held senior commercial and management positions across Nokia, Unilever and Multichoice.

He brings a vast knowledge in branding, marketing, business development and e-commerce that Jumia says he will look into “connecting consumers to brands and create jobs across the value chain which is transformative.”

He holds a Bachelor of Science degree from the University of Nairobi.

He joins Jumia after the e-commerce cut down its operations in Africa and reduced its staff across its markets in a cost-cutting measure that is part of its plan to turn a profit.

Jumia in its financials up to September 2019 said it will continue to balance growth with profitability, adding that it will seek to focus on more promising markets that can help it reverse its losses.

The company made a net loss of €163.4 million (Sh18.3 billion) in the nine months ended September, representing a 39 percent jump from €117.3 million (Sh13.1 billion) the year before.

This was despite sales rising 28 percent to €111.1 million (Sh12.4 billion) from €86.7 million (Sh9.7 billion), with the larger loss brought by a surge in administrative and other expenses.