Jumia Technologies, one of Africa’s biggest eCommerce platforms, has announced that it will cease operations in South Africa and Tunisia as part of a strategic shift to optimise resources.
According to the company, it will cease operations in those markets at the end of 2024.
Digging Deeper
Jumia’s South African and Tunisian operations, contributed only 3.5% and 2.7% of total orders respectively in 2024. Those figures fell further in the first half of 2024.
The strategic decision to shut down operations in both markets is expected to improve overall operational efficiency across the company.
What They’re Saying
“Since taking over as CEO, my priority has been to strengthen our business and drive profitability. The macroeconomic conditions in South Africa and Tunisia, coupled with stiff competition, have limited growth in both markets,” Francis Dufay, Jumia CEO explained.
What Happens Next
Jumia will now focus on its core markets: Nigeria, Kenya, Egypt, and Morocco, and focus on efforts to streamline operations and return to profitability.
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