Tuesday 19 November 2019

‘Amazon of Africa’ Jumia To Shutdown Operations in Cameroon

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Online retailer Jumia Technologies announced on Monday that it has halted e-commerce platform activity in Cameroon because it "does not fit" the African country.
‘Amazon of Africa’ Jumia Shutdown Operations in Cameroon

Jumia did not publicly announce its imminent closure in the country, and the move surprised many local customers and employees.

Jumia, as the first African technology company to be listed on the New York Stock Exchange, made the decision to leave the market because of poor conditions for success.

Jumia, said based on its review, the company came to the conclusion its transactional portal as it is run currently is not suitable to the current operating environment in Cameroon.
“For this reason, we made the difficult decision to suspend our e-commerce operations in Cameroon.”

The company said it will continue to support buyers and vendors in Cameroon online through its classified portal, previously called Jumia Deals—where thousands of buyers and vendors get in touch every month.

Jumia operates in 14 African countries, with brands that encompass travel booking service Jumia Flights, online takeout service, Jumia Food and classified services Jumia Deals.

Don’t blame Jumia, blame the economy because Jumia is currently running at a loss.

via: Reuter

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