Jumia has revealed its latest plans for the coming period in Egypt, including an agreement with the country’s five largest banks to offer interest-free instalment services for customers. The plans come to mark the e-commerce website’s eighth anniversary.
Hisham Safwat, CEO of Jumia, said that the company will work with banks, including the National Bank of Egypt (NBE), Banque Misr, Bank Audi, and Mashreq Bank among others, to offer the instalment service.
Safwat noted that the agreement with the banks included that the instalments be without interest if its duration is between six and twelve months.
The e-commerce marketplace has also introduced a 20% discount on products purchased using Banque Misr and CIB credit cards, and Vodafone Cash.
Safwat said that due to the coronavirus (COVID-19) pandemic, there has been an increase in demand on a number of products. He added that Egypt’s e-commerce market has grown by almost 80% due to the pandemic.
The e-commerce website has witnessed a significant growth in the demand for sports equipment due to the state-imposed curfew. This has come on the back of customers looking to exercise more often as they stay at homes for longer periods, as gyms and exercise areas have also been closed to curb the virus’ spread.
The demand has also increased demand for groceries and face masks, as well as clothes and electronic games.