Cairo, Egypt: Jumia, the leading e-commerce platform in Africa, and Contact Creditech, the consumer financing arm of Contact Financial Holding, announced today a collaboration to launch a new group of financial services for consumers in Egypt.

This partnership will enable Jumia to offer different payment methods to simplify the buying process and create a variety of financial solutions for the customers of both companies.

This is why Contact Creditech has worked on several axes to keep pace with recent changes, and these axes include strategic partners at all levels in various fields to allow the use of digital credit assessment based on artificial intelligence technology and linking the multiple systems of success partners to achieve the best customer experience.

"At Contact Creditech, we always strive to find financial solutions that are in line with customer needs and, at the same time, give the best customer experience. Through this partnership, we will provide all Jumia customers with financial solutions aimed at enabling customers to complete the purchase process with ease using the latest technological solutions in the field of consumer financing, which will help increase purchasing power," said  Mr. Ahmed Samir Kamel, Managing Director of Contact Creditech.

"We are proud of our leadership in the Egyptian market, as Jumia and JumiaPay are always striving to provide unprecedented services to their customers, whether existing or new and through our strategic partnership with Contact Creditech, we will help our customers to have a new and improved purchase experience, especially since Contact financing services will be available to all Jumia customers, regardless if they are current customers of Contact or not, indicating that Jumia always seeks to meet all the needs of its customers through one platform and that it is necessary to continuously develop the services available to ensure a unique experience for customers, which brings us to our agreement today with Connect," Mr. Abdellatif Olama, Vice President of JumiaPay, Egypt.

"I am proud today of this partnership with Jumia and JumiaPay as a partner in success, especially since we share the same goal, which is that the customer always comes first. Through this partnership, the needs of the platform users will be met, whether they deal with the banking system or not. What sets Contact apart is the fast response to all the customer's financial needs and providing services in simple ways, which contributes to facilitating the workflow and serving the customer to the fullest extent, and this comes from our extensive experience in the field of financing in Egypt, which began more than 20 years ago," Mr. Saeed Zater, CEO of Contact Financial Holding.

About Jumia

We believe that technology has the potential to transform everyday life in Africa, for the better. We built Jumia to help consumers access millions of goods and services conveniently and at the best prices while opening up a new way for sellers to reach consumers and grow their businesses.

Jumia is a leading e-commerce platform in Africa. Our marketplace is supported by our proprietary logistics business, Jumia Logistics, and our digital payment and fintech platform, JumiaPay. Jumia Logistics enables the seamless delivery of millions of packages while JumiaPay facilitates online payments and the distribution of a broad range of digital and financial services.

About Contact

Contact Financial Holding (Egyptian stock code CNFN,CA) is a leading group in providing non-bank financial solutions and services, managing a group of companies that provides a full range of financing and insurance products and services. Contact adopts an innovative approach to ensure the provision of its services of the highest quality in the fields of finance and insurance, with the easiest process to reach a wide segment of the market.

Through Contact credit, Contact offers various financing programs to finance the purchase of new and used cars and vehicles, durable goods financing programs, in addition to the home finance and finishing programs through Contact Mortgage and trade finance programs through its sister companies Contact Leasing and Contact Factoring. Contact also provides insurance services through Sarwa Insurance and Sarwa Life Insurance. The company is also the first and largest issuer of securitization bonds in various fields in the Egyptian market. Contact Financial Holding Company LLC. Is licensed and regulated by the Financial Regulatory Authority.