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Pan-African e-commerce giant, Jumia shuts down in Cameroon

Pan-African e-commerce giant, Jumia shuts down in Cameroon

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Pan-African e-commerce giant, Jumia shuts down in Cameroon

Pan-African e-commerce giant, Jumia has shut down its operations in Cameroon. The company, which is headquartered in Europe but sells as an African company, has been undergoing a series of troubles, which were magnified once it went public a couple of months ago.

The Cameroun operations are said to have been axed sometime on Monday (yesterday) after the company determined it could not remain afloat in the West African state. Sources close to the company stated that Jumia fired its entire Cameroun workforce, as it is the case with organizations that restructure their operations by letting go of their staff.

The latest development also means that Cameroon is the third country Jumia will be shutting down its operation after Gabon and the Congo Republic.

The company will, however, continue to support buyers and vendors in Cameroon online through its classified portal, previously called Jumia Deals—where thousands of buyers and vendors get in touch every month.

Jumia became the first Africa tech stock to list on Wall Street in April 2019, although it had to struggle amidst several backlashes in the following months with cases related to improper sales practices.

 

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Pan-African e-commerce giant, Jumia shuts down in Cameroon

 

 

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