Jumia Technologies AG announced on October 16, 2024, the planned closure of its operations in South Africa, which operated under the brand name Zando, and in Tunisia. This strategic decision is set to take effect by the end of 2024.
The company stated that ceasing operations in these non-strategic markets will allow Jumia to optimize resources and focus on its most promising markets that have stronger growth potential. South Africa and Tunisia collectively accounted for a small portion of Jumia’s total orders and gross merchandise value.
This move is intended to enhance overall operational efficiency across Jumia's remaining nine markets. The company aims to streamline its business model and concentrate investments where it anticipates greater returns and market leadership.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.