Jumia has revealed its latest plans for the coming period in Egypt, including an agreement with the country’s five largest banks to offer interest-free instalment services for customers. The plans come to mark the e-commerce website’s eighth anniversary.

Hisham Safwat, CEO of Jumia, said that the company will work with banks, including the National Bank of Egypt (NBE), Banque Misr, Bank Audi, and Mashreq Bank among others, to offer the instalment service.

Safwat noted that the agreement with the banks included that the instalments be without interest if its duration is between six and twelve months.

The e-commerce marketplace has also introduced a 20% discount on products purchased using Banque Misr and CIB credit cards, and Vodafone Cash.

Safwat  said that due to the coronavirus (COVID-19) pandemic, there has been an increase in demand on a number of products. He added that Egypt’s e-commerce market has grown by almost 80% due to the pandemic.

The e-commerce website has witnessed a significant growth in the demand for sports equipment due to the state-imposed curfew. This has come on the back of customers looking to exercise more often as they stay at homes for longer periods, as gyms and exercise areas have also been closed to curb the virus’ spread.

The demand has also increased demand for groceries and face masks, as well as clothes and electronic games.

© 2020 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.