Copia Global is leaving Uganda, TechCabal has learned. The company says its decision is, “consistent with many of the best companies in Africa and across the world which are responding to the market environment and prioritising profit.”
“Given the economic downturn and constrained capital markets are expected to continue for some time, Copia plans to double down on efforts to drive our founding Kenya business to sustainable, scaled profitability,” a company statement reads.
In 2021, Copia set up shop in Uganda, a move which Tracey Turner, Copia Global founder and chair described as “ the next step” in fulfilling the company’s mission to reach Africa’s emerging middle class. “Uganda has one of the fastest growing middle classes in the world with a hard-working population and a dynamic entrepreneurial culture. Copia is designed specifically to serve this high growth but underserved consumer base who want access to high-quality products at the best prices,”…
