Technology Jumia shutdowns in Tanzania, Cameroon amid e-commerce struggles

18:00  28 november  2019
18:00  28 november  2019 Source:   qz.com

Cameroon Citizen Named as Seventh Person to Die in ICE Custody in 2019

  Cameroon Citizen Named as Seventh Person to Die in ICE Custody in 2019 A 37-year-old man from Cameroon died in U.S. Immigration and Customs Enforcement custody on Tuesday, after suffering a brain hemorrhage in a San Diego detention center. Nebane Abienwi, the seventh adult to die in immigrant detention this year, had been in U.S. government custody for nearly a month after applying for admission into the United States at the San Ysidro Port of Entry “without proper entry documents” on Sept. 5, according to an ICE release. Abienwi had been in the agency’s custody since Sept. 19, held at the Otay Mesa Detention Center roughly one and a half miles north of the U.S.-Mexico border.

Jumia is your number one online shopping site in Nigeria. We are an online store where you can purchase all your electronics, as well as books, home appliances, kiddies items, fashion items for men, women, and children; cool gadgets, computers, groceries, automobile parts, and more on the go.

But Jumia ’s struggles in Cameroon may be an indicator of similar moves to come in its other African markets as the e - commerce company tries to figure Cameroonian -born tech entrepreneur, Rebecca Enonchong, who has monitored Jumia ’s timeline in Cameroon from inception, suggested that Jumia

The largest e-commerce operator in Africa just became smaller—again.

a man standing next to a motorcycle© Provided by Quartz

A week after it quit operations in Cameroon, Jumia has shuttered its business in Tanzania as well, citing the need to “focus resources” on other markets as part of an “ongoing portfolio optimization effort.” Simply put, the company is looking to reduce operating costs by focusing on larger African markets where e-commerce is currently a more viable proposition.

This means that Jumia now operates in just 12 of Africa’s 54 countries, with Egypt and Nigeria counting as its largest markets. While it’s still the largest e-commerce player on the continent, Jumia’s shrinking size somewhat contradicts its pitch to investors ahead of a landmark New York IPO in April. At the time, it touted its pan-African operations and ambitions as a core strength.

At least 37 people killed in Cameroon landslide

  At least 37 people killed in Cameroon landslide A landslide caused by heavy rains in western Cameroon killed at least 37 people overnight, state media reported on Tuesday, as rescue teams scoured the rubble of destroyed houses for survivors. © Leclerc Tsakem/AP Photo Rescue workers search through the rubble following a landslide in Bafoussam Cameroon, Tuesday, Oct. 29, 2019. At least a dozen more people were still reported as missing in the town of Bafoussam in the western highlands, about 200 kilometers (120 miles) north of Cameroon's main port city of Douala."Around 10 p.m. I heard a noise," said Albert Kenge, who survived the landslide.

E - commerce operations in 14 countries. Jumia for me is an organization that believes in young people who are hungry for success and offers them the opportunity to prove this. Jumia Technologies AG is struggling to convince U.S. investors it can build a successful e - commerce

And even if Jumia shuts down in Nigeria, it will be good news for local Nigerian merchants who now run their own e - commerce websites, Instagram, Facebook, Twitter and even WhatsApp direct marketing to the ever increasing Nigerian consumer market

But with the company still racking up major losses, it seems to be struggling with managing operations and uneven growth across several fragmented markets that remain largely underdeveloped with respect to digital payments, delivery and logistical infrastructure. In its filing with the US Securities and Exchange Commission ahead of the IPO, Jumia admitted there was “no guarantee” it will break even and become profitable in all of its African markets.

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Like the shutdown in Cameroon, Jumia’s operations in Tanzania ceased abruptly. Last week, the company had claimed that it had no plans to pull out of more African markets. Analysts will now be wondering about the fate of its other smaller markets, such as Uganda and Rwanda.

Jumia is losing millions, but pivoting to fintech with Jumia Pay

  Jumia is losing millions, but pivoting to fintech with Jumia Pay As it continues to search for the winning e-commerce formula, Jumia is increasingly turning its sights on fintech through Jumia Pay, its in-house payments solution with the goal of not just creating an appendage to its online marketplace but also a major standalone player in the expanding payments space across the continent.“E-commerce marketplaces are very powerful engines to drive payments. Everywhere in the world some of the leading payment companies were born out of and grown by marketplaces,” Jumia CEO Sacha Poignonnec said on the earnings call today (Nov. 12).

In this section, Jumia provides the latest information relevant to analysts and shareholders, including updates on the company's financial performance and other announcements about the Group.

Jumia is a consumer goods e - commerce retail platform that connects sellers with consumers.The company is also a logistics service

But Jumia’s grand plan to curtail losses and boost revenues goes beyond simply pulling out of smaller markets. The company has advanced plans for a partial pivot to fintech as it looks to spin-off Jumia Pay, its in-house payments solution. In addition to payment processing for third-party users, Jumia Pay’s off-platform strategy will include facilitating payments through QR codes as well as powering mobile point-of-sale systems.

a close up of a map© Provided by Quartz Media, Inc.

Government-led internet shutdowns cost the global economy $8 billion in 2019, research says .
Deliberate internet shutdowns cost the global economy more than $8 billion last year, according to a new report. © Provided by CNBCResearch published Tuesday by internet research firm Top10VPN analyzed the economic impact of internet shutdowns around the world throughout 2019. The cost of internet blackouts were calculated on Netblocks' and the Internet Society's cost of shutdown tool, which uses indicators from the World Bank, International Telecommunication Union, Eurostat and U.S. Census Bureau.

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