Jumia Nigeria, First Bank partnership allows customers to pay in installments

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Nigerian e-commerce platform Jumia has formed a partnership with First Bank to enable customers to pay in installments for their products.

As part of the deal, customers wishing to obtain a First Bank Naira Card can apply directly on the Jumia website while they place their order.

First Bank said it understands e-commerce has become a strong factor for economic growth in Nigeria, and also recognises the shift in the way customers want.

“Jumia Nigeria has carved a niche for itself both as an innovator and market leader. At First Bank, we pride ourselves in our ability to create value for our customers through our strategic and innovative partnerships,” said Abiodun Ajadi of the e-business group at First Bank.

“Associating with Jumia is in consonance with our culture of putting the customer first always. This unique partnership takes the customer experience to another level like we have never seen before in e-commerce. The customer, apart from having a wide assortment of products and excellent services available to him, he is also empowered to purchase them.”

Jumia has been on an expansion push across Africa of late, with Disrupt Africa reporting last month the Africa Internet Group (AIG)-owned company had expanded into Tanzania. This month it expanded its operations in Kenya by launching its third logistics centre in the country in the town of Nakuru.

This followed the company’s latest funding round in November, which saw Jumia secure EUR120 million (US$149.5 million) in funding.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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