Several staff at Jumia suspended over Fraud.

Today Jumia revealed:
• it has suspended some staff over an $18m sales fraud
*is facing “several” lawsuits in New York over its IPO
• losses continue to widen to more than $70m in the second quarter alone
•Shares down 14%

Link:
https://t.co/mVKI6c4vob

kwanza, congratulations for bringing full info you beetle.

this online shop model is pretty new here. and as usual, the african attempts to defraud his employer na “madeal” for quick personal benefit. we’re stuck.

It’s catching on.

It’s our colonized mentality at its best…

How can they hack it when the powers that be are competitors in the same game.

Won’t speak for fear of being labled a self hater, But Africans are not yet Human Beings

I think hiyo fraud intokea kwa hizo item huwa zimeandikwa “shipped from abroad” na kitu iko tu hapa Moi Avenue…so waafrika wanaibia hapo kwa shipping fees. Its a collaboration between some staff members na hao suppliers.

But to run an online business is a tough job. Even Amazon has never turned a true profit in it’s history. It’s about holding on for many years.

At the same time Jumia are competing against kawaida brick and mortar stores e.g. Gathecha’s Carrefour, naivas, quickmart etc.

Nigga you crazy even if you pretend to know all about US. Stick to politics.

But amazon hasn’t ever made any profits.

Ama unataka ikuwe debate tupelekane hadi page 8?

They play the system, don’t be dumb enough to think that Bezos is the richest man when his company is not profitable. Staki debate I’m pointing that the point is misleading.

There’s a difference between revenue and profits.

Amazon revenue is huge because they sell a lot of crap and are involved in numerous types of businesses but their profits are non existent.

Amazon doesn’t make profits. They rely on their big name to attract more and more resellers.

Bezos sells a name. That’s how he survives. If people don’t trust Amazon, he is finished.

So he survives without profits, simply because his website sells a lot!! Customers and resellers trust him for that and believe that this is a longterm objective.

Sijui kama umeelewa?

Similarly shareholders trust him and inject capital into his brand.

They have bought into the belief that this is a company with a long term plan… one day they will make profits just keep on selling. And Bezos rewards shareholders promptly including himself to maintain that trust.

Lastly Amazon is nowadays highly diversified. New businesses within amazon cover their losses. And when investors, customers, resellers see these new businesses they trust him even more. So Amazon never lacks capital, BUT THEY DON’T MAKE PROFITS.

Hio ni Grammer lesson my friend na economics. Hio ni upuss

[ATTACH=full]255492[/ATTACH]ghasia

Biashara zote hazifanani. Duka ya internet ni tricky.

And don’t forget that Bezos is a perfectionist. His website and delivery system are darn near perfect.

Customers trust that such that even when they hear that Amazon makes no profits, they never leave Amazon because they know Amazon delivers.

So ecommerce is not for the greedy, you first build the trust over many moons by injecting huge amounts of money, using clever SEO tactics and making sure the customer is always happy.

Hio uwongo unatoa wapi? Look at the attachment above.

:smiley: @patco hananga akili ni kupayuka tu kama chizi…
Leta counter ya ii patricia wacha kuharia server ovyoovyo

kizungu mingi tu na jargon he doesn’t even understand. I think he is a very idle and lone guy. Gashwin and makena same gang. Very old also :D:D najua wataumwa lakini lazima ukweli tuseme

Patco baki kwa trump ghaseer takataka hapana leta ujinga village

@Sokwe mtu dont joke with me. You have to be very good to corner me. :D:D

Excellent!! First of all for a company of Amazon’s size $11 billion in profits is peanuts. Pure peanuts.

Apple makes almost similar revenue to Amazon, but they made a pure profit of $60 billion in 2018!!

SECONDLY. Hata hamjasoma hizo articles mwuelewe. [SIZE=7]Where did the $11 billion come from !!![/SIZE]

[SIZE=7]Where?[/SIZE]

For starters Amazon made a profit of $7.3 billion from [SIZE=5]cloud computing services [/SIZE]NOT e-commerce!!

And e-commerce is their CORE BUSINESS!!

Amazon has a cloud computing service called Amazon Web Services (AWS). That’s where the profits are coming from.

@Sokwe mtu surely when you subtract $7.3 billion from 11 billion what are you left with?

The rest of the profits came from digital video streaming and online advertisements.

Don’t fuck with @patco .