Jumia is shutting down in parts of Africa in portfolio review

Online retailer Jumia Technologies has announced the shutting down of its portfolio in Tanzania. The company announced this decision weeks after shutting its office and operations in Cameroon. Widely regarded as “the Amazon of Africa,” the company said in a statement on Thursday that “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.” Jumia this year listed 17.6% of its shares at $14.50 a share on the New York Exchange with hopes of raking in…

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