Kenyan e-commerce startup Copia Global has shut down its Ugandan operation barely two years after it ventured into the landlocked market, citing economic downturn and limited access to capital.
The firm said it had suspended its African expansion plan after raising $50 million (Sh6.8 billion) from investors last year to spread its footprint into other markets, including Nigeria, Ghana, Cote d’Ivoire, South Africa, Zambia, Zimbabwe, Malawi and Mozambique.
