Jumia shuts down Tanzania business in portfolio review

In Summary

• Strategy is part of portfolio optimisation effort.

A woman works at the packaging unit at a warehouse for an online store, Jumia in Ikeja district, in Nigeria's commercial capital Lagos June 10, 2016.
A woman works at the packaging unit at a warehouse for an online store, Jumia in Ikeja district, in Nigeria's commercial capital Lagos June 10, 2016.
Image: REUTERS

Online retailer Jumia Technologies, often called “the Amazon of Africa,” has closed its e-commerce business in Tanzania, it said in a statement on Thursday, less than two weeks after shutting down in Cameroon.

“As part of our ongoing portfolio optimisation effort, Jumia has come to the difficult decision to cease our operations in Tanzania effective on November 27,” the company said in a statement.

Jumia is currently conducting a Black November sale with the majority of their goods on sale with prices slashed up to more than 50 per cent.

Jumia is a consumer goods e-commerce retail platform that connects sellers with consumers.

The company is also a logistics service, which enables the shipment and delivery of packages from sellers to consumers, and a payment service, which facilitates transactions among participants active and Jumia's platform in selected markets.