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
Why Omtatah wants court to block Sh2.8tr railway works
Road accident-related deaths rise by 3.4pc in 2025
Making agriculture 'cool' again: How to win the youth back into big farming
Alarming clause in Religious Organisations Bill threatens our democracy
Two schools in one: Principals brace for complex CBE transition
Dispensaries to offer maternity services under SHA, says Barasa
Kenya inks Sh40 billion deal to transmit renewable power
Controversial Bill seeking to regulate churches put on hold
Wildlife census report key in increasing action
Algiers shows Africa's struggle between radical zeal and dependency