Africa retailer Jumia suspends e-commerce in Cameroon [Yahoo! Finance News]
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Source: Yahoo! Finance News
Africa retailer Jumia suspends e-commerce in Cameroon JOHANNESBURG ) - Online retailer Jumia nologies said on Monday it had suspended its e-commerce platform activities in Cameroon because they were "not suitable" for the African state. Dubbed "the Amazon of Africa", the company founded in 2012 by two French former McKinsey consultants has grown quickly to become the continent's leading e-commerce firm, operating in more than a dozen countries. Jumia, whose share price hit a record low of $4.96 after reported the suspension on Monday, said it would continue supporting buyers and vendors in Cameroon using its classified portal Jumia Deals. Cameroon's economy is one of the largest in central Africa, but growth has been hit by a two-year separatist uprising in its Anglophone North-west and South-west regions. "We came to the conclusion that our transactional portal as it is run today is not suitable to the current context in Cameroon," Jumia said in a statement announcing that its e-com
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