Jumia, the leading eCommerce platform in Africa, has suspended eCommerce Operations in Cameroon.
The startup, which recently released its 3rd quarter report, said in a statement that after a thorough review of its investments in Cameroon, they concluded that its transactional portal is not suitable for the current context in the country.
The statement continues: “This is why we took the difficult decision to suspend our ecommerce operations in Cameroon effective on 18th Nov 2019.”
Despite its exit from Cameroon, the NYSE listed company said it will continue to provide support its classified portal-Jumia Deals.
“We will continue to support buyers and vendors to do business online on our classifieds portal, previously called Jumia Deals and which will now be the main portal jumia.cm – thousands of buyers and vendors get in touch every month on this portal and we believe it will continue to become more and more relevant in the future.”
Jumia Co-Founders Sacha Poignonnec and Jeremy Hodara said: “Jumia is grateful to its employees in Cameroon for the hard work over the past five years and we know that Cameroon is not short of talent.
“The team has fought to change the way business is done and with the support of its employees, the Company has proven to be the leading ecommerce in the region. This would not be possible without the combined efforts, great contribution and dedication of our Jumia Cameroon team.“
The suspension may be as a result of the fact that it wants to streamline its business offerings in Africa, eventually break even and finally become profitable.
1 Comment