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Jumia suspends e-commerce business in Cameroon – Daily Trust

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Jumia suspends e-commerce business in Cameroon

Its shares have tumbled from its Wall Street initial public offering price of $14.50 dollars in April, hitting a record low of $5.10 dollars on Monday after third-quarter results missed revenue estimates for the second time in three quarters.“Based on our review, we came to the conclusion that our transaction portal as it is run today is not suitable to the current context in Cameroon,” the company said in a statement on Monday.

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