Jumia (NYSE:JMIA) shares tumbled Thursday. The company, a leading e-commerce platform in Africa, has partnered with Spiro to launch a fleet of electric bikes (e-bikes) to power deliveries in Uganda, within Kampala. This initiative marks a significant step in Jumia's ongoing Environmental, Social, and Governance (ESG) strategy to reduce carbon emissions and promote sustainable business practices.
The pilot program introduces e-bikes into Jumia's logistics operations, replacing part of its existing fuel-based fleet. With hundreds of deliveries made daily across the city, this transition is expected to cut emissions, lower operational costs, and support greener urban mobility.
"At Jumia, we are committed to leveraging technology and innovation to create long-term value for our stakeholders and the communities we serve. This partnership with Spiro is more than just about deliveries - it is about building a cleaner, more sustainable future for Kampala. Almost half of our fleet will be e-bikes. By introducing electric bikes into our fleet, we are demonstrating that e-commerce can be both convenient and climate-conscious," said Steven Lamony, Managing Director, Jumia Uganda.
By adopting e-bikes, to quote this morning’s news release, “riders will benefit from reduced fuel and maintenance expenses, ultimately leading to improved earnings. Customers will also enjoy more affordable delivery fees as cost efficiencies are passed along.”
JMIA shares dumped 94 cents, or 8.2%, to $10.54.
