Listen to ABR

Jumia Quits Tanzanian Market, Days After Pulling Out of Cameroon

Nov 29, 2019 05:09 PM
Jumia Quits Tanzanian Market, Days After Pulling Out of Cameroon Africa Business Radio, Jumia Retailer, Jumia Tanzania, Africa Business News, Cameroon, Jumia Technologies, Ecommerce

Online retailer Jumia Technologies, has quit the Tanzanian market, only days after pulling out of Cameroon. Jumia becomes the second digital trading company to exit the local market after money lender, Tala, closed business last September. Dubbed "the Amazon of Africa," Jumia announced yesterday a review of its portfolio had led to shutting its e-commerce business in Tanzania. Reuters reported that Jumia's share price has plummeted since a Wall Street debut in April. "We have to focus our resources on our other markets. It is more important now than ever to put our focus and resources where they can bring the best value and help us thrive," the company said in the statement. Jumia entered the Tanzania market five years ago and its abrupt exit appears like a continuation of a scale back on its-e-commerce operations across Africa. It was not immediately clear what the impact the exit would have on enrolled dealers as well as job loses. With an e-commerce business similar to Amazon's and a classified portal like Alibaba, Jumia sells its own stock and takes a cut of third-party transactions on its website. The firm has a presence in 12 African markets including Nigeria, Kenya, SA, Egypt, Ghana, Morocco, Uganda, Senegal, Rwanda, Ivory Coast, Tunisia, and Algeria

Get the latest headlines and unique ABR stories, sent every weekday.

Upcoming Events

Wed 17

ABR social sensitization on HIV & AIDs

Jul 17 @ 07 AM - Jul 24 @ 05 AM

Job Listing

Software Developer



News Updates

  • India Passed The Controversial Religion-base Citizenship Amendment Bill

  • Massive Boycourt Expected As Algerians Attempt to Replace Ousted Leader Abdelaziz Bouteflika

  • Africans Await South Africa to Follow-Suit, As Nigeria Kills Entry Visa

  • Nigerian Debt Manager Justifies New Borrowing

  • West African Court Trashes IPOB's Nnamdi Kanu's Case

  • Blackout Averted, Nigerian Electricity Workers Bow to Pressure

  • Carbon-Intensive Corporations May Lose Billions

  • Trade War Bites Chinese Export

  • Investors Monitor South African Rand For a Clue on Economy

  • Nigeria Takkles Immigration With New Visa Regime