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After Cameroon, Jumia shuts down business in Tanzania

Friday 29 November 2019 11:03 CET | News

Jumia, the largest ecommerce operator in Africa, has just closed operations in Tanzania a week after  is shuttered business in Cameroon, as per Quartz news.

The company claims the need to “focus resources” on other markets as part of an “ongoing portfolio optimization effort.”

This means that Jumia now operates in just 12 of Africa’s 54 countries, with Egypt and Nigeria counting as its largest markets.

Like the shutdown in Cameroon, Jumia’s operations in Tanzania ceased abruptly. Last week, the company had claimed that it had no plans to pull out of more African markets.

The company has advanced plans for a partial pivot to fintech as it looks to spin-off Jumia Pay, its in-house payments solution. In addition to payment processing for third-party users, Jumia Pay’s off-platform strategy will include facilitating payments through QR codes as well as powering mobile point-of-sale systems.
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Keywords: Jumia, ecommerce
Categories: Payments & Commerce | Ecommerce
Countries: Tanzania, United Republic of
This article is part of category

Payments & Commerce