(3 Minutes Read)
Jumia Technologies, a well- known e-commerce platform having considerable presence in Africa will reportedly cease its food delivery operations across 7 markets by the end of this month to focus on its online retail business.
Jumia Technologies, a well- known e-commerce platform having considerable presence in Africa will reportedly cease its food delivery operations across 7 markets by the end of this month to focus on its online retail business.
Jumia Food represented about 11% of Jumia’s general merchandise value for the nine months ended September 30. The food delivery service currently operates in Nigeria, Kenya, Uganda, Morocco, Tunisia, Algeria and Ivory Coast. Jumia has been cutting costs in order to turn profitable. The company which was founded in 2012 was dubbed the“ the Amazon of Africa.”
Read also:
https://trendsnafrica.com/mtn-group-to-divest-shares-in-jumia-technologies/
https://trendsnafrica.com/the-rwandan-unit-of-jumia-technologies-shuts-shop/
In April 2019, it became the first tech stock from the continent to list on Wall Street. In mid-November, news website The Crunch reported that Jumia’s customers are around 2.3 million, down 24.3% from the 3rd quarter of 2022. On a more positive note, the firm reported its lowest losses since its initial public offering at the New York Stock Exchange (NYSE).
