outfit

Kenyan e-commerce and fintech platform for mass market consumers Copia Global has appointed John Lazar, the ex-CEO of Metaswitch, a Microsoft subsidiary, to its board off the back of $20 million in new funding. Without the capital to get it all the way to profitability, it made sense to hold off there. Both companies have encountered headwinds that question the sustainability of B2C e-commerce in Africa even though they operate different e-commerce models. However, both platforms are confronted with distinct objectives: Copia strives to achieve profitability in a single market, Kenya, while Jumia has to battle it out across 11 markets. The founder and chairman noted that once the e-commerce company achieves profitability in the East African market, it plans to extend operations to 14 other countries it has strategically mapped out.