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 ensure that Copia is well positioned to pursue its pan-African ambitions with its proven formula for successful expansion, to serve the 800 million middle and low income consumers through the power of e-commerce. We are committed to working hard to achieve our goals, and once we achieve this goal, we look forward to relaunching in Uganda and across the continent.
According to the company,the Uganda business successfully demonstrated the demand for and replicability of the Copia model in bringing e-commerce to the Africa mass market .
The company also expressed gratitude to the talented team in Uganda who made it happen in such a short time frame.
Copia Global was founded in Kenya by Tracey Turner and Jonathan Lewis as a B2C e-commerce platform to serve Africa’s middle- and low-income African consumers.
Launched in 2013, Copia combines technology and a network of local agents to offer a broad product offering and efficient, reliable delivery to “base of the pyramid” consumers.
Its service enables rural households to access goods that would otherwise be difficult to obtain without travelling to a major city.