Copia global ,a Kenyan B2C e-commerce platform has announced that its pausing its Africa expansion plans and suspending its recently established Uganda operation during this period.
The move is aimed at doubling down on efforts to drive its founding Kenya business to sustainable, scaled profitability.
According to a statement from the company,given the economic downturn and constrained capital markets are expected to continue for some time.
The Kenya entity is rapidly growing its e-commerce service, providing middle income consumers with an unrivaled high quality, low cost, distribution capability, built on a network of more than 50,000 agents. This service also provides local manufacturers with a unique, efficient route to market.
The statement also noted that this decision is consistent with many of the best companies in Africa and cross the world, which are responding to the market environment and prioritizing profit.
This highly focused approach will…
