Jumia’s Cameroon exit could be the first step to shrinking its beleaguered e-commerce business
22 November 2019
Pan-African e-commerce giant Jumia has suspended its Marketplace business in Cameroon.
Jumia did not publicly announced it imminent closure in the country and the move took many customers and local staff by surprise. “It came as a bombshell and all operations just stopped abruptly,” a Yaounde-based staff member, who asked not to be named, said.
The company that has positioned itself as the first African tech firm to be listed on the New York Stock Exchange, indicated the decision to quit the market is due to unfavorable conditions on their path to achieve 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. Read the full article on Quartz here.