November 18, 2019 / 3:52 PM / 24 days ago

Jumia Technologies suspends e-commerce business in Cameroon

A woman works at the packaging unit at a warehouse for an online store, Jumia in Ikeja district, in Nigeria's commercial capital Lagos June 10, 2016.REUTERS/Akintunde Akinleye

JOHANNESBURG (Reuters) - Online retailer Jumia Technologies, often called “the Amazon of Africa”, suspended its e-commerce business in Cameroon on Monday, announcing in a statement that its transactional portal was “not suitable to the current context” in the country.

The company, which has seen its stock price decline steeply since its New York IPO in April, said it would continue to support buyers and vendors using its classified portal, known as Jumia Deals.

Reporting by Joe Bavier; Editing by Susan Fenton

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