The partnership was born out of a need to increase the quality of goods and services purchased on Jumia’s platform. The e-commerce company with presence in over 15 African countries is seeking to leverage the opportunities abounding in blockchain technology to deliver efficient services to customers.
The duo will be kick-starting with a partnership that will commence in Nigeria. The West African country seems to be a hub for e-commerce and the partnership will help Jumia add value to its cross-border transactions. Ms Lee-Ann Cassie, the Head of Africa for Telcoin explained that the firm would be working to increase the sales traffic and transactions from Nigerians in the Diaspora as well as increasing and adding value to e-commerce transactions within the country.
Telcoin is focused on creating a mobile cryptocurrency solution that would connect with global mobile networks and enable the ease of converting cash on mobile money, prepaid credit, and post-paid billing platforms. Telcoin aims to utilise existing mobile network providers, to give people access to needed financial services that include e-commerce, online remittances and payments.
The Chief Executive Officer for Jumia Nigeria, Mrs Juliet Anammah explained the partnership saying:
“We’re excited, to say the least, about our partnership with Telcoin, because we believe this will have a huge impact on our commitment to improving the lives of Africans through the internet, helping them to save time and money. She also explained that the firm aims to provide services to Nigerians in the Diaspora who want to convert their digital currency to shopping vouchers on their platform. She added, “We rely on and trust Telcoin to facilitate the currency conversion since digital currency is, in the interim, not a payment method on Jumia.”
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