Kenya’s Copia has disclosed plans to put its company’s activities on hold in Uganda. The company said that…
The mobile platform is taking this step just a few months after its launch in Uganda. Copia,, however, considers this step a way to build and focus on Kenyan business to profitability.
The statement expatiated that the company’s decision should not be considered bizarre because many of the best companies in Africa and beyond deploy this strategy in responding to the market profits.
It completed a Series B drive in 2021, raised KES 2.6 billion, and also shook up its administration by recruiting Betty Mwangi to its board of directors(former executive of Safari-com), who formerly held the position of CEO of Jumia Kenya. The startup also raised $50 million in a Series C equity round led by Goodwell Investments in January 2022.
As regards the business suspension in Uganda, the number of employees that would bear the consequence of this decision is unrevealed, but Copia argued that this approach would enable a successful pursuit of its pan-African ambitions to expand its market and be in service of 800 million middle and low-income consumers through the power of e-commerce.
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About Copia
The company provides access to a previously underserved market of middle to low-income African consumers. People who do not have internet access can still make purchases through its digitally enabled agents and frequently updated print product catalogues. Copia’s e-commerce platform is designed to meet the specific needs of Africa’s growing middle- to low-income consumers, saving them time and money.
It leverages cutting-edge technology that links middle and low-income consumers to various quality products delivered at their convenience.