Jumia Technologies, the NYSE-listed African e-commerce company, has appointed former African Development Bank (AfDB) President, Dr. Akinwumi Adesina, to its supervisory board as part of efforts to strengthen governance and accelerate its path to profitability. The appointment was approved during the company’s Annual General Meeting held on May 15, according to a statement released by Jumia.
Alongside Adesina, shareholders also elected Hassanein Hiridjee, Chief Executive Officer of Axian Group, and Benjamin Faw, a US-based investor and business adviser to the board. Meanwhile, current Chairman Jonathan Klein, co-founder and former CEO of Getty Images, and Deputy Chair Anne Ooga Eriksson were re-elected.
The company said the new board composition combines experience in development finance, African business operations and capital markets at a time when the company is seeking to achieve sustainable profitability after years of losses. Adesina, a former Nigerian Minister of Agriculture, led the African Development Bank between 2015 and 2025, during which the institution’s capital base reportedly increased from $93 billion to $318 billion. He is also known for introducing Nigeria’s electronic fertiliser voucher programme, which reached millions of smallholder farmers.
Hiridjee heads Axian Group, a Madagascar-based conglomerate with operations in telecommunications, energy, financial services and real estate across 21 African countries, several of which overlap with Jumia’s markets. Benjamin Faw brings experience in marketing, institutional investment and e-commerce, with a focus on helping growth-stage companies achieve positive cash flow.
The statement quoted the chairman, Jonathan Klein, as saying the restructured board would provide the experience needed for the company’s next phase of growth. “This Supervisory Board brings together deep knowledge of African markets, governance experience and financial discipline needed as Jumia transitions toward sustainable profitability,” Klein said.
While Adesina was quoted as describing Africa’s digital economy as a growing reality and expressing confidence in Jumia’s future. “Africa’s digital economy and e-commerce sector are no longer future promises. Jumia has played a central role in building that ecosystem,” he said.
