{"id":131194,"date":"2023-12-14T15:53:48","date_gmt":"2023-12-14T15:53:48","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/12\/14\/jumia-food-to-exit-nigeria-other-african-markets-by-end-of-december-2023\/"},"modified":"2023-12-14T15:53:48","modified_gmt":"2023-12-14T15:53:48","slug":"jumia-food-to-exit-nigeria-other-african-markets-by-end-of-december-2023","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/12\/14\/jumia-food-to-exit-nigeria-other-african-markets-by-end-of-december-2023\/","title":{"rendered":"Jumia Food To Exit Nigeria, Other African Markets By End Of December 2023"},"content":{"rendered":"<p><\/p>\n<div>\n<p>African e-commerce firm, Jumia Technologies has set to close its food delivery business in all seven countries in which the unit operates by the end of the year to focus on growing its core online retail business.<\/p>\n<p>INFORMATION NIGERIA learnt that more Nigerians might end up losing their job as a result of the mass exit of the online company in Nigeria.<\/p>\n<p>It was gathered that Jumia food is currently operating in Nigeria, Kenya, Morocco, Ivory Coast, Tunisia, Uganda, and Algeria.<\/p>\n<p class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-2\">The move is in line with Jumia\u2019s strategy to optimize its capital and resource allocation and to continue its path to profitability, adding that Jumia Food is not suitable to the current operating environment and macroeconomic conditions.<\/p>\n<p class=\"text__text__1FZLe text__dark-grey__3Ml43 text__regular__2N1Xr text__small__1kGq2 body__full_width__ekUdw body__small_body__2vQyf article-body__paragraph__2-BtD\" data-testid=\"paragraph-3\">Jumia Food represents about 11% of Jumia\u2019s general merchandise value for the nine months ended Sept. 30, and has not been profitable since its inception.<\/p>\n<p data-testid=\"paragraph-3\"><strong>READ MORE:\u00a0Jumia CEOs Step Down As Company Suffers Losses<\/strong><\/p>\n<p data-testid=\"paragraph-3\">According to the company\u2019s CEO, Francis Dufay, in a statement released on Wednesday, cited a clear focus on the company\u2019s core physical goods business and Jumia Pay platform as the reason for the exit.<\/p>\n<p>He said: \u201cThe more we concentrate on our physical goods business, the more we recognize the substantial opportunities for Jumia to flourish and achieve profitability.<\/p>\n<p>\u201cHence, we must make the right decision by directing our management, teams, and capital resources towards seizing this opportunity.\u201d<\/p>\n<p>\u201cIt\u2019s a segment that\u2019s very difficult across the world, with very challenging economics and big losses. It\u2019s also a segment that is extremely competitive across the world and Africa.\u201d<\/p>\n<div class=\"code-block code-block-7\" style=\"margin: 8px auto; text-align: center; display: block; clear: both;\">\n<div data-advadstrackid=\"890536\" data-advadstrackbid=\"1\" class=\"infor-target\" id=\"infor-2113638643\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/12\/300x250b.gif\" alt=\"\" width=\"300\" height=\"250\"\/><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>African e-commerce firm, Jumia Technologies has set to close its food delivery business in all seven countries in which the unit operates by the end of the year to focus on growing its core online retail business. INFORMATION NIGERIA learnt that more Nigerians might end up losing their job as a result of the mass [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":131195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-131194","post","type-post","status-publish","format-standard","has-post-thumbnail","category-nigeria-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Jumia Food To Exit Nigeria, Other African Markets By End Of December 2023 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2023\/12\/14\/jumia-food-to-exit-nigeria-other-african-markets-by-end-of-december-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jumia Food To Exit Nigeria, Other African Markets By End Of December 2023 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"African e-commerce firm, Jumia Technologies has set to close its food delivery business in all seven countries in which the unit operates by the end of the year to focus on growing its core online retail business. 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