Jumia closes down business in Tanzania just 10 days after exiting Cameroon, here’s why

Jumia has announced that it has closed its business done in Tanzania just ten days after leaving Cameroon.

Jumia closes down business in Tanzania just 10 days after exiting Cameroon, here’s why

A statement from the company revealed that the retailer left Tanzania to focus on operations in other countries.

“Based on our review of the path to success, we have made a difficult decision to cease operations in Tanzania as of 27th November. While Tanzania has strong potential, we have to focus our resources on our other markets. This decision will help put our focus and resources where they can bring the best value and help Jumia thrive,” the statement said.

The statement added that the retailer will, however, still run its classified services in the country through Jumia deals, just like in Cameroon.

“Jumia will continue to support buyers and vendors through our classifieds portal, previously called Jumia Deals, which will now be the main portal. We believe it will continue to become increasingly relevant in the future for buyers and vendors.”

Report has shown that Jumia’s exit from Tanzania and Cameroon comes at a time when the company is struggling with losses and a falling stock price. Jumia’s Q3 loss stood at $55m, as compared to $45m in 2018 Q3.

After the Tanzanian exit, the retailer remains with 12 countries in the continent.

These countries include Nigeria, Egypt, Morocco, Kenya, Ivory Coast, South Africa, Tunisia, Algeria, Ghana, Senegal, Uganda, and Rwanda.

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