After weeks of rumors and leaks, it is official, Jumia Market formerly known as Kaymu is shutting down according to Jumia. In its prime days, the platform was the meeting point for individual buyers and sellers.
This move, according to the company is a part of its “restructuring in a bid to boost its growth and strengthen the group’s presence in Kenya.”
Sam Chappatte, Jumia Kenya’s managing director, said the integration of Jumia Market into Jumia’s e-commerce operations will allow the group to focus its attention on projects with the highest possible return on investment. Jumia operates nine products in 23 African countries. Its total transactions grew by 4.3 percent despite active customers reducing by 100,000 to 1.5 million.
Nigeria is still the biggest market for Jumia, followed by Egypt and Kenya where ecommerce is gradually gaining traction as internet penetration increases.
With the shut down, job cuts are expected. But Chappatte said there will be no job losses for Jumia Market employees in Kenya as they have been absorbed into different and/or similar roles at Jumia.
FYI, Jumia was known as the Africa Internet Group and its platforms include Jumia, Jumia Food, Jumia Travel, Jumia Deals, Jumia House, Jumia Jobs and Jumia Car. It rebranded due to the popularity of the Jumia brand name, hoping the popularity would rub off on other ventures.
