E-commerce giants Jumia folded up its operations in Cameroon without prior information. However, the rumor mill was grinding for quite some time about the closure of the e-commerce company. Immediately after closure of operations, Jumia has taken off Cameroon from its website. The services of entire staff stand terminated without any notice to them. Cameroon becomes the third African country in which it has folded up operations. The earlier two being in Gabon and Congo Republic.
Jumia, the German based e-commerce company became the first African tech stock to list on Wall Street in April 2019 , though its shares tumbled subsequently after a short period of rise since listing. The Jumia platform connects its 81,000 sellers with 4 million active customers as on December 2018 and offers a number of products, which include dresses, leggings, skirts, polo shorts, belts, watches, sunglasses, health and beauty products, a range of kid products etc. Jumia has pan-African operations across 14 countries as on April 2019. Its biggest operation is in Africa’s most populous nation, Nigeria.
