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
Jilted lover attacks woman in Bungoma
Pilot, co-pilot killed in LaGuardia runway collision
A free lecture for those who want professors to retire early
How NARC resuscitated imperial presidency that Kenyans loathed
KNEC opens KCSE registration for 8-4-4 candidates
Family calls for justice over woman's murder
How Kenya missed out on Sh125b World Bank project
From austerity to handouts: Ruto's Sh4.7tr pre-election budget to appease Kenyans
Kenya's school categorisation gives us a false sense of unity