Since Monday, November 18, the Cameroonian subsidiary of the E-commerce company has been announced to close in the coming days.
Not much remains of the look of the jumia.cm site, the first platform that used to make online purchases. According to internal sources, the E-commerce company is about to pack up. This even as a "Black Friday" - Friday dedicated to promotional flash sales - was underway and should not be completed until the end of November. On the site, just two services are still available: "Travel" and "Deals". A decision that surprises more than one. Especially since Jumia has long been considered the king of electronic commerce in Cameroon. In addition, in 2018, according to a ranking by the United Nations Conference on Trade and Development, Cameroon recorded the 10th best African performance in terms of electronic commerce. In addition, in April 2019, Jumia Group made an impression by making a resounding entry on the New York Stock Exchange, in the United States. This by raising up to 200 million dollars from the first day, or more than 118.6 billion CFA francs. This euphoria unfortunately did not last. In May 2019, speculator Andrew Edward Left, in a report, accuses the group of fraud. He believes, in particular, that the company would have communicated data different from that presented a few months earlier to institutional investors and hidden sensitive information. An exit which would have led, according to various observers, to the distrust of the investors and the bad results which followed. In Cameroon, Jumia has registered numerous complaints from customers. These mainly relate to the poor quality of certain products purchased. The fault of the failures displayed by certain local partner shops. The concern is now growing for the direct and indirect jobs registered. The distribution startups are the main concerned by the situation, they who took advantage of the African giant to develop their activities. This announced halt in operations comes a few weeks after the liquidation of Afimarket, another e-commerce operator on the continent and in Cameroon.
