Jumia has announced it has completed the closure of its entire operations in Cameroon, firing all its staff amid mounting losses. The closure, which started in 2014 comes a few months after an alleged fraud which cost the business up to $1 billion. In 2017, the online retailer closed its Rwandan e-commerce business over quality issues, focusing on its food delivery services in the country.
Earlier, the Berlin-based company recorded a loss of KSh 6.2 billion in Q2, a 60% increased from Q1 losses.
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The firm further says it is shifting to focus more on its payment platform, Jumia pay while cutting back on the e-commerce business. Additionally, there is unconfirmed information that the platform is mulling pulling out of Congo and Gabon.
The company will now operate in 13 countries including Kenya, Ghana, Senegal, Nigeria, South Africa, Egypt, Morocco, Uganda, Tanzania, Rwanda, Ivory Coast, Tunisia, and Algeria.
