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Browsing: Jumia Tanzania
Africa’s largest e-commerce platform—Jumia has closed its operations in Tanzania.
According to Reuters, the company gave out the news of its exodus which noted: “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 statement reads.
The company which as of today has its operations in twelve countries out of 54 in Africa, has been experiencing a rather stiff challenge which includes significant losses for the past two years.
According to Jumia’s financial report, the company’s operating loss increased from $ 46 million in the second quarter of 2018 to $ 73 million in the second quarter of 2019.
The company shut down in Tanzania comes after 10 days whereby the Cameroon market lost Jumia as well.
Jumia came in Tanzania five years ago …
