Why Jumia is scrapping products and laying off staff

<p>This episode is also available on YouTube - <a href="https://youtu.be/M_7WVjRmTMw" target="_blank" rel="nofollow noopener">https://youtu.be/M_7WVjRmTMw</a><br /><br />Today on the Techpoint Africa Podcast, Emmanuel and Chimgozirim discuss the recent happenings at African eCommerce giant, Jumia.&nbsp;The company announced potential layoffs, and the suspension of several products to help it reach profitability.<br /><br />Senior Reporter, Chimgozirim, shares insights into the moves made by the company to attain profitability, while suggesting viable solutions to their continued losses.<br /><br />To advertise or promote your brand, <a href="https:/techpoint.africa/advertise">visit this link</a> or send an email to <a href="mailto:business@techpoint.africa" target="_blank" rel="nofollow noopener">business@techpoint.africa</a><br /><br />Explore the <a href="fintech.techpoint.africa">fintech in everything at The Fintech Summit 2022</a><br /><br /><strong>Timestamps</strong><br />00:00 - Intro<br />00:33 - Gist on Jumia<br />04:09 - Why is Jumia making losses?<br />06:53 - Is scrapping these products the way to go?<br />10:12 - Who's getting laid off?<br />11:07 - What next for Jumia?<br />12:11 - The evolution of eCommerce business models in Africa<br /><br /><strong>Useful links</strong></p> <ul> <li>African eCommerce giant, Jumia, to reduce staff and product offerings</li> <li>What the current <a href="https://techpoint.africa/2021/12/07/b2b-africa-ecommerce">B2B rave could mean for Africa&rsquo;s struggling eCommerce sector</a></li> <li>Nonconsumption is your <a href="https://www.christenseninstitute.org/blog/non-consumption-is-your-fiercest-competition-and-its-winning/">fiercest competition&mdash;and it&rsquo;s winning</a></li> </ul> <p>This episode was produced by Ogheneruemu Oneyibo and Gracious Sede<br /><br />Email us your feedback at <a href="mailto:podcast@techpoint.africa" target="_blank" rel="nofollow noopener">podcast@techpoint.africa</a>. Visit <a href="http://www.techpoint.africa/" target="_bl