Popular Pan-American e-commerce company, Jumia has revealed that it will end its food delivery service by the end of the year because the business has been certified unprofitable.
This decision will affect all of the seven countries the enterprise is providing the service: Nigeria, Uganda, Kenya, Tunisia, Morocco, Algeria and Ivory Coast.
Jumia had made this announcement via a statement it released, saying that food delivery was “a business with very demanding and tasking economics”, therefore it decided to concentrate on the physical goods side of the business, where mobile phones were the most purchased item on the company’s platform.
Jumia is the first Africa-focused tech firm to list on the New York Stock Exchange (NYSE) in 2019 – about seven years after it was established in Nigeria by two French entrepreneurs.
