Online retailer, Jumia, popularly known as “the Amazon of Africa,” has said its e-commerce platform activities in Cameroon has been suspended because their service is not suitable for the country.
Its shares dropped from its Wall Street initial public offering price of $14.50 dollars in April, hitting a record low of $5.10 dollars recently after 3rd-quarter results missed revenue estimates for the second time in three quarters.
Their statement read, “Based on our review, we came to the conclusion that our transaction portal as it is run today is not suitable to the current context in Cameroon.”

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