The firm, which has been experiencing losses in the Kenyan market, says it detected the scam in September last year, in its recent reports issued to US regulators.
“In September 2022, we discovered that an employee in Kenya manipulated certain vendor payment entries and misappropriated payments in 2021 and 2022,” Berlin-based Jumia Technologies AG said in the filing.
The e-commerce platform gives vendors the ability to feature goods online on the site while sellers are given the privilege to order and pay before or on delivery.
However, the firm is making moves to frustrate the activities on the platform given that the e-commerce platform has many populations thereby giving room for those with bad intentions.
Read more: https://www.investingport.com/see-h...50000-by-manipulating-vendor-payment-records/