Glovo, the Giant food delivery company has announced to shutdown its operations in Ghana after entring the Ghanaian space 4years ago with €3.5 million ($3.7 million) investment to expand its operations.
The Food delivery company has announced to cease operation on the Ghanaian soil from 10th May, 2024. However, the company support team will be available to resolve any problem til 3st May, 2024.
The main reason for such unfortunate instances is due to the company inability to meet its profit margins after millions of investment in the 2year span.
The company shared light of the market exit with their partners and vendors through mail detailing the exit from the Ghanaian market and focus reinvestment of their scarce resources in other 23 African countries like Morocco, Uganda, Kenya, Côte d’Ivoire, and Nigeria, where it sees more promising prospects for growth.
Unpaid Partners and Vendors were inform of receiving amount owed in due period.
Glovo emphasized that, the app will remain active until May 10th, 10:00 pm, after that, the app will close and won’t be able to accept any order.
Vendors and users of the app are required of paying physical cash to the vendors on all new orders til 10th May when the app will be shut down.
