Africa-focused e-commerce retailer Jumia Technologies will shut down its South African online fashion retailer Zando and its Tunisian operations by the end of the year.

CEO Francis Dufay revealed that the move is part of a strategic refocus on more profitable markets such as Nigeria.

To achieve profitability, Jumia is implementing aggressive cost-cutting measures, which include reducing its workforce, exiting the everyday grocery and food delivery sectors, and scaling back delivery services unrelated to its core e-commerce business. READ MORE