Jumia Group has been named as the only Africa-focused company to make the World's Top 50 Smartest Companies list (2016), published by the Massachusetts Institute of Technology (MIT). The announcement comes shortly after Jumia Group (formerly known as Africa Internet Group) earned the impressive title of ‘Africa’s First Unicorn’.
MIT mentioned, among other credits, the company’s flagship project ‘Jumia’ - Africa’s biggest online shopping mall - and it’s online booking portal ‘Jumia Travel’ as the continent's leaders in their respective sectors.
“Jumia Group is proud to be on this list, as it is great testimony to our relentless efforts in tapping into, and bringing to full the potential in Africa’s digital market” said Sacha Poignonnec, co-founder of the company.
“We are committed to filling the gaps in this massively growing economy through technology; we believe that for every challenge encountered therein lies an opportunity”.
Ranked at number 47, Jumia joins an exclusive list of iconic companies including: Microsoft; Facebook; Chinese eCommerce giant Alibaba; and the world's leading automobile manufacturer Toyota.
"This list draws a lot of attention to what new age companies are doing to capitalise on the digital possibilities brought forth by the Internet. We chose to focus on Africa as the leading digital frontier," Paul Midy, the CEO for Jumia Travel said.
MIT Smartest Companies was first published in 2010 under the title, Most Innovative Companies.
This year’s list mainly spread between Biotech, Computing & Telecommunication, Transportation and Internet & Digital Media.