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Jumia: To close Rwandan business

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Jumia: The pan-African ecommerce company, will close its business in Rwanda

  • The closures bring Jumia’s footprint in the continent to 11 countries
  • It comes just weeks after it exited Cameroon and Tanzania
  • On 10 December, Jumia also said it is in effect shutting its travel website
  • Jumia has run up more than $1bn in losses since launching in 2012 in Nigeria
  • They faces competition from companies that ship to Africa from overseas, such as Amazon, and local small businesses
  • Finteh listed on the New York Stock Exchange to great fanfare in April, becoming the first Africa-focused start-up worth more than $1bn

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