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
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
Bottled water exempted from excise duty
Kenya out to increase its participation at LA28
Initiative to upskill youth in construction sector launched
Cyril Maloba: The math teacher who refused to stop
Knec call for KCSE candidates as curtain falls on 8-4-4 education system
'A criminal act of the State,' Orengo says of Lichuma torture claims
From Kenya to Zambia: Kenyan firm wins role in school meals overhaul
Revealed: Why millions are unable to afford Sh387 daily spent
The World Bank warns that rising fuel costs, weak job creation and widespread informal employment could push up to 2.4 million more Kenyans into poverty in 2026.Agoa extension gives industry breathing room, results in highest-ever export earnings
The extension of the Growth and Opportunity Act (Agoa) until the end of 2028, has promoted certainity to exporters in textile industries and also created jobs in Kenya.County workers' pension at risk in Sh2 billion Lapfund real estate mess
The Auditor General has flagged irregular contract changes and project delays that risk the loss of Sh2 billion at the Local Authorities Provident Fund (Lapfund).Beverage price wars loom as Indian billionaire acquires Kenyan firm for Sh4.8b
Kenya's soft drinks market is on brink after Indian billionaire Ravi Jaipuria snapped up a Kenyan dairy and juice plant for $32 million (Sh4.8 billion).SRC gazettes regulations to strengthen remuneration governance in public service
The Salaries and Remuneration Commission has introduced new regulations to improve transparency, link pay to performance and help control Kenya’s rising public wage bill.MOST READ
- Agoa extension gives industry breathing room, results in highest-ever export earnings
FINANCIAL STANDARD
- County workers' pension at risk in Sh2 billion Lapfund real estate mess
FINANCIAL STANDARD
- Beverage price wars loom as Indian billionaire acquires Kenyan firm for Sh4.8b
FINANCIAL STANDARD
By Brian Ngugi