Glovo, a leading food delivery company, has announced that it will cease operations in Ghana today Friday, May 10. Despite investing significantly in the market over the past two years, the company has struggled to achieve profitability.
In an email to its restaurant partners, Glovo cited the difficulty in attaining profitability as the primary reason for its decision to withdraw from Ghana. The company has faced challenges in the market, which has hindered its ability to grow and sustain its operations.
Glovo plans to shift its focus towards expanding its presence in other African markets, where it sees more promising growth opportunities. The company aims to concentrate its efforts in countries like Morocco, Uganda, Kenya, and Côte d’Ivoire, where it believes it can achieve greater success.
Read Also: Glovo to Close Ghana Operations on May 10
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The exit of Glovo from the Ghanaian market marks a significant change in the food delivery landscape. The company’s departure will likely impact its customers, restaurant partners, and employees, who will need to adapt to new options and alternatives in the market.
Glovo says this strategic decision reflects its efforts to reassess its investment priorities and realign its strategic direction. By reallocating resources to regions with greater potential for success, Glovo seeks to optimise its operational efficiency and maximize returns on investment.
Despite the closure of its operations in Ghana, Glovo expressed appreciation to its partners and customers for their support throughout its tenure in the country.
The company acknowledged the contributions of its stakeholders and valued the relationships forged during its time in the Ghanaian market.
