copia

Kenyan B2C e-commerce company, Copia Global, has announced the suspension of its expansion in Africa and the shutdown of its Ugandan operations. The company’s CEO, Tim Steel, made the announcement in a blog post on Wednesday, citing the prevailing economic downturn and constrained capital markets as the reasons behind this decision.

Overview of Copia Global

Copia Global is a technology-driven B2C e-commerce company that links middle and low-income consumers to a variety of quality products delivered at their convenience. The company was launched in 2013, and it currently boasts a network of over 50,000 digital-enabled agents across Kenya, two million customers, and over 13 million orders to date.

Expansion Plans and Series C Equity Round

Copia Global had planned to use the $50 million raised in a Series C equity round in 2022 to expand its proven model across East Africa and extend its services to millions of Africa’s underserved consumers. The company recently opened an office in Uganda, which successfully demonstrated the demand for and replicability of the Copia model in bringing e-commerce to the African mass market.

Reasons for the Suspension of Expansion and Shutdown of Ugandan Operations

In the blog post, Tim Steel stated that Copia Global is hugely grateful to the talented team in Uganda who made the successful launch of the Ugandan office happen in such a short time frame. However, he mentioned that for now, the company will focus solely on driving the business in Kenya to accelerate its drive to profitability.

According to Steel, this move is consistent with many of the best companies in Africa and across the world, which are responding to the market environment and prioritizing profit. Copia Global’s suspension of expansion and shutdown of its Ugandan operations are a response to the prevailing economic downturn and constrained capital markets.

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Impacts of the Suspension of Expansion and Shutdown of Ugandan Operations

Copia Global’s suspension of its expansion in Africa and the shutdown of its Ugandan operations have significant impacts on the company, its employees, and the African e-commerce market.

The suspension of the company’s expansion in Africa means that millions of underserved African consumers will have to wait longer to access quality products and services. The shutdown of the Ugandan operations has led to the loss of jobs for the talented team that made the successful launch of the Ugandan office happen in such a short time frame.

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Nigel Jr.
As a tech enthusiast and expert, Nigel Jr. is dedicated to providing in-depth and insightful content on all things technology. With a background in online journalism, product reviewing, and tech creation, Nigel has become a trusted source for all things tech.

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