Jumia, Egypt’s leading e-commerce platform, announced Wednesday an expansion of its strategic partnership with Contact CrediTech, the digital consumer finance arm of Contact Financial Holding. The collaboration aims to provide enhanced services and financial solutions to customers of both companies.
This expanded partnership builds upon a successful collaboration initiated in January 2023, which focused on diversifying payment methods for Jumia customers and facilitating the online purchasing process.
As part of Jumia’s 12th-anniversary celebrations in Egypt, customers will be able to finance their purchases through Contact from May 27th to June 9th, without incurring administrative fees, interest, or down payments for up to six months.
Abdellatif Olama, CEO of Jumia Egypt, expressed his enthusiasm about the continued collaboration: “This step is part of JumiaPay and Contact’s commitment to providing the best online shopping experience for consumers in the market, reinforcing cooperation between the two companies as strategic partners working together to achieve common goals and better meet customer needs.”
Omar El Fiky, MD of Contact CrediTech, echoed this sentiment, stating that the partnership aims to offer “fee-free, interest-free, and down payment-free options” to benefit their joint customers.
Contact Financial Holding’s CEO, Said Zater, emphasised the strategic importance of the partnership: “At Contact, we highly value the close cooperation and strategic partnership we have with Jumia. This partnership is not just a business agreement; it represents a shared vision to enhance the online shopping experience for our customers.”
The partnership aligns with Contact’s emphasis on digital transformation and the Egyptian government’s vision for 2030, which seeks to expand digital services in the market.
Both Jumia and Contact CrediTech have expressed optimism about the future of this partnership, aiming to achieve further success in providing exceptional shopping experiences that cater to the evolving needs and aspirations of Egyptian consumers.