The leader of e-commerce in Cameroon, Jumia is in a process of liquidation, At this stage, we are not yet talking about closure, but about reducing the size of their activities and the details of this measure will have to be followed.
According to internal sources, the E-commerce company is packing out of the Cameroonian market.
Jumia.cm homepage is invisible; menu and clickable tabs shrank. The mobile application tab under Cameroon space is no more available.
Just two services are still available on the site: the “Travel” and the “Deals”.
The leak came from employees who were notified of the end of their employment contracts.
As of now, The management of the Cameroonian subsidiary of Jumia Group is yet to make a statement to explain this surprised on the surprise strinking of their activities in Cameroona especially as Jumia has long been considered the king of e-commerce in Cameroon.
Moreover, in 2018, according to a ranking of the United Nations Conference on Trade and Development, Cameroon recorded the 10th best African performance in terms of e-commerce.
In addition, in April 2019, Jumia Group made a big impact by making a resounding entry to the New York Stock Exchange in the United States. This raising up to 200 million dollars from the first day, more than 118.6 billion CFA francs.
In May 2019, Citron Research’s Andrew Left, a noted short seller, is once again slammed Jumia Technologies AG as a “fraud,” in a video that includes footage of what he says were former employees who accused the company of placing fake orders.
An exit that led, according to various observers, the distrust of investors and the poor results that followed.
Left said another former employee also raised allegations of “fraud orders,” which have reached 50% in Nigeria alone. Jumia operates across 14 African countries.
For now Jumia Cameroon operates only in Douala and Yaounde.