The article discusses the e-commerce company Copia, which operates in Kenya and has shifted its focus from solely boosting top-line growth to achieving profitability. Here are some key points from the article:
Copia’s Challenges
- Copia faced headwinds that questioned the sustainability of B2C e-commerce in Africa.
- The company had to minimize losses and slow down growth, similar to Jumia’s approach.
Shift in Strategy
- Copia has shifted its focus from solely boosting top-line growth to achieving profitability in Kenya.
- The company now focuses on building a digital relationship with customers, which is different from its previous model.
Goals and Ambitions
- Copia aims to achieve profitability in Kenya before expanding to 14 other countries it has mapped out.
- The company’s annual revenues are expected to exceed $60 million by the end of 2023.
New Board Member
- John, a tech operator and investor, has joined Copia’s board as a sounding board for the executive team.
- He will provide guidance on talent acquisition, sales and revenue generation strategies, and other areas.
Overall, the article highlights Copia’s efforts to adapt to changing market conditions and achieve profitability in Kenya before expanding to other markets.
