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Headline : Jumia Halts Operations in South Africa and Tunisia

Read more from the original article on here at kenyanwallstreet.com.






Tags : #jumia #halts #operations #south #africa #tunisia


No. of Paragraph 12

E-commerce retailer, Jumia Technologies, will double down on its operations and solidify its market in Kenya, Egypt, Morocco, and Nigeria to recover lost revenues incurred by its latest exit from South Africa and Tunisia. 

“After a thorough analysis, we made the difficult decision to close down our operations in South Africa and Tunisia. Both businesses account for negligible portions of our overall operations,” said Francis Dufay, Jumia CEO. 

The closures will hemmorhage 110 jobs in both countries, however, Dufay assured that some of the staff would be reallocated to other markets. The Group has regretted its optimization measures but cited them as necessary actions to restore pre-2019 profitability. 

“Decisions like these are never easy and we are extremely grateful to team members in both countries, who worked tirelessly to serve our customers every day. We are also grateful to our suppliers, vendors and logistics partners in those markets,” Dufay added. 

Read more from the original article on here at kenyanwallstreet.com.


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