Jumia Technologies AG, a Nigerian-based online shopping platform with a presence in several countries in Africa, including Kenya, has posted a 49% reduction in operating losses to $ 33 Million. Gross profit reached US$ 27.3 Million, an increase of 22%, while Sales & Advertising expense was US$ 7.3Million, the lowest quarterly amount in three years. According to Jeremy Hodara and Sacha Poignonnec, Co-Chief Executive Officers of Jumia, the platform is making significant progress on its path to profitability with Adjusted EBITDA loss in the third quarter of 2020 decreasing by 50% year-over-year. Considered one of Africa's leading e-commerce platforms, Jumia said that disruptive effects of the COVID-19 pandemic continued playing out during Q3, 2020, but with lesser supply and logistics disruption than was seen in the first half of 2020. Jumia said the pandemic created economic challenges that negatively impacted consumer sentiment in countries where it operates.