Jumia Technologies AG (NYSE:JMIA) Q2 2023 Earnings Call Transcript

Catherine O’Neill: Yes, no problem. I was just wondering if you could give a bit more detail on the current cash situation in terms of whether there’s any trapped cash anywhere and what the composition of [indiscernible] cash balance is?

Antoine Maillet-Mezeray: Yes. So, you know that are operating in 11 different jurisdictions, and they all have their own ForEx regulation. Some of them — in some of them, it’s very easy to repatriate cash, some of them are a bit more difficult to deal with, because the regulation is a bit complex. What I can tell you is that as we speak, we have — there are no countries where we have material amount of cash from which we cannot repatriate. And we have already started to repatriate for more than a couple of countries. There is no, as you speak, cash trap in any country where we would have cash that we are not going to use. And maybe an additional point, the recent evolution in Nigeria, which is probably a very good move in terms of macro, will help to rest our confidence in the ForEx market and makes it easier to repatriate cash from the country.

Catherine O’Neill: Great. Thank you.

Operator: Thank you, ladies and gentlemen. At this time, we have reached the end of our question-and-answer session, and this concludes today’s conference. So, you may disconnect your lines at this time, and we thank you for your participation.