Jumia to close food delivery business
Business
By
Standard Reporter
| Dec 14, 2023
Jumia technologies is set to close its food delivery business in a bid to cut costs.
According to Reuters, Jumia will focus on growing its online retail business.
"It's a segment that's very difficult across the world, with very challenging economics and big losses. It's also a segment that is extremely competitive across the world and Africa," Chief Executive Officer Francis Dufay told Reuters.
"The economics are tough in this market because the costs are very high and there is plenty of competition so there is downward pressure on the commissions that we make and upward pressure on marketing costs because everyone is fighting for customers."
Some of the countries that Jumia operates in are; Kenya, Algeria, Egypt, Ghana and Senegal.
READ MORE
Curriculum delivery is a marathon, not a sprint
Recipe for rigging: Battle looms over plan to scrap IEBC's livestreaming of election results
Why Ruto rejected Public Procurement (Amendment) Bill, 2024
Kenya shines at Zone Individual Chess Championship in Ethiopia
Police-linked brutality victims in court, claim opaque compensation process
Safe but scared...: Tales of Mathare floods survivors
Inside huge cash withdrawals from affordable housing kitty
Prof Mutua should face MPs for grilling on victims payouts
Government should address issues raised by young people without resorting to intimidation
Subaru driver in a dramatic high-speed chase after alleged hit-and-run in Nairobi
Mandatory Sh6.5 million visitor insurance rule sparks tourism fears
Foreign visitors travelling to Kenya will now be required to obtain mandatory travel health insurance with a minimum benefit limit of $50,000.Kenya seeks deeper US investment in tourism, conservation
Kenya is seeking deeper cooperation with the United States in tourism and wildlife conservation as both countries explore new partnerships to support sustainable development.Wachinga's court fight reopens Kenya Re's history of boardroom wrangles
The Kenya Re CEO claims a plan has been hatched to unceremoniously kick him out of office, reigniting the never-ending boardroom wars that have dogged the State-owned reinsurer.Uganda takes control of Kenya Pipeline as Museveni secures veto power, two board seats
Uganda has gained board seats and veto powers at KPC, raising concerns over Kenya's control of its strategic fuel transport infrastructure.Excitement as government announces opening of new tourism college at the Coast
Coast tourism players welcome the September opening of Ronald Ngala Utalii College, saying it will boost hospitality skills and workforce training.MOST READ
Mandatory Sh6.5 million visitor insurance rule sparks tourism fears
FINANCIAL STANDARD