Jumia: The pan-African ecommerce company, will close its business in Rwanda
- The closures bring Jumia’s footprint in the continent to 11 countries
- It comes just weeks after it exited Cameroon and Tanzania
- On 10 December, Jumia also said it is in effect shutting its travel website
- Jumia has run up more than $1bn in losses since launching in 2012 in Nigeria
- They faces competition from companies that ship to Africa from overseas, such as Amazon, and local small businesses
- Finteh listed on the New York Stock Exchange to great fanfare in April, becoming the first Africa-focused start-up worth more than $1bn
