Glovo, a Spanish delivery startup, has announced its decision to leave the Ghanaian market.
The on-demand platform, which operated to make the lives of Ghanaians easier by providing access to convenient delivery services, has officially informed its stakeholders of its decision.
According to the company, its customer app will cease to operate in Ghana by 10:00 p.m. on May 10, 2024.
In the information it sent to its stakeholders, the company said it had “made the difficult decision to close our Ghana operations.”.
It said that while it recognises the potential of the Ghana market, building a stronger position in the market and achieving profitability will require substantial investment over an extended period.
For this reason, the company said it has decided to redirect its investments to 23 other countries where they operate since Ghana cannot guarantee them the profits they require.
It has assured its stakeholders that all outstanding payments will be made following the terms and conditions that they operate under.
The company expanded its operations in Ghana, becoming the fifth African country after Kenya, Morocco, Uganda, and Cote d’Ivoire, making it the second market in West Africa.
By: Rainbowradioonline.com/Ghana
