Jumia Technologies, a leading announced that it will close its food delivery business, Jumia Food in Nigeria, Kenya, Uganda, Morocco, Tunisia, Algeria and Ivory Coast because it is not profitable. In this insightful article written in 2019, Dr Ola Brown Orekunrin, a Nigerian venture capitalist, explained why tech firms like Jumia struggle to make it in countries like Nigeria or Uganda but succeed in countries like India or US states like Carlifornia. Size mattersThe technology ecosystem in Nigeria [and other African countries like Uganda] has failed so far to deliver the number of multi-million dollar exits that we have seen in…
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