Copia, an e-commerce platform that has been operating in Uganda since 2018, has announced its exit from the country. The company will now focus on its Kenyan unit and expand its presence there.
Recently, the firm announced that it has put a halt to its African expansion plans after receiving $50 million (Sh6.8 billion) from investors last year for entering various markets in Africa, such as Nigeria, Ghana, Cote d’Ivoire, South Africa, Zambia Zimbabwe and Mozambique.
The decision to exit the Ugandan market was based on an analysis of the company’s performance in both countries. The company found that it had achieved greater success in Kenya than in Uganda and decided to focus on the former.
Copia’s exit from Uganda is a sign of the changing dynamics of e-commerce platforms in Africa. As more companies enter the market, competition is becoming increasingly fierce and companies need to be able to adapt quickly to survive. Copia’s decision to focus on one market is a reflection of this trend.