• Latest
  • Trending
Glovo shuts down operations in Ghana due to low profit

Glovo shuts down operations in Ghana due to low profit

May 1, 2024
South African investment giant raises caution on Bitcoin ETF risks

South African investment giant raises caution on Bitcoin ETF risks

September 26, 2025
OpenAI’s ChatGPT Pulse now available for Pro users

OpenAI’s ChatGPT Pulse now available for Pro users

September 26, 2025
MSport 2025

MSport 2025: Nigeria’s #1 Sports Betting Site, Powered by Chelsea & BVB

September 25, 2025
MNT-Halan introduces Egypt’s first secure lending solution via Halan App

MNT-Halan introduces Egypt’s first secure lending solution via Halan App

September 25, 2025
Visa, intella partner to boost MENA’s financial institutions with Arabic conversational AI

Visa, intella partner to boost MENA’s financial institutions with Arabic conversational AI

September 25, 2025
Airtel Africa invests in education with 100 scholarships and new tech hubs

Airtel Africa invests in education with 100 scholarships and new tech hubs

September 25, 2025
SINOTRUK enters Libya with Aseel Auto as exclusive distributor in Benghazi

SINOTRUK enters Libya with Aseel Auto as exclusive distributor in Benghazi

September 25, 2025
Tango Brook launches digital card for fuel management

Tango Brook launches digital card for fuel management

September 25, 2025
AI in Nigeria announces 3rd edition of InnovationAI

AI in Nigeria announces 3rd edition of InnovationAI

September 25, 2025
Interswitch Unveils Quickteller Travel to Transform African Travel Experience

Interswitch Unveils Quickteller Travel to Transform African Travel Experience

September 25, 2025
Your one-stop tech hub! Get the latest updates on AI, cybersecurity, fintech, and emerging technologies.
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Tech TV
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Tech TV
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
Techpression
No Result
View All Result
Home Tech News Africa Tech News

Glovo shuts down operations in Ghana due to low profit

Felicia Akindurodoye by Felicia Akindurodoye
May 1, 2024
148 3
0
Glovo shuts down operations in Ghana due to low profit
467
SHARES
Share on FacebookShare on TwitterWhatsAppTelegram

After two years of investing €3.5 million ($3.7 million) to expand its operations, the food delivery platform Glovo will cease operations in Ghana on May 10, 2024.

The platform notified its restaurant partners through email. The firm claims that it ceased operations in Ghana because of profitability concerns. 

Part of the mail reads: “While we recognise the potential of the Ghana market, building a stronger position in the market and achieving profitability would require substantial investment over an extended period.”

Read also: Mastercard, Glovo to combat hunger, promote education

RelatedPosts

Glovo commits KSh 2 billion to expand jobs and digital skills in Kenya’s platform economy

Moroccan regulators probe Glovo for alleged predatory pricing in food delivery

Glovo generates ₦71 billion in vendor earnings since launching in Nigeria in 2021

Glovo’s effort in Ghana

In the fourth quarter of 2021, Glovo co-founder Sacha Michaud announced the company’s intention to invest 3.5 million euros in Ghana. He claims that the decision to increase investment was based on the company’s perception of Ghana as a promising market for digital delivery.

The government’s belief in digitalisation is encouraging, particularly for the SME sector. They thus became an intermediary in this field and were prepared to inject additional resources into the Ghanaian operations. “We are looking at about 3.5 million euros in investments for 2022, and we plan to double our investment in Ghana,” he added.

According to Michaud, Glovo’s rapid grocery service has been its fastest-growing business, and the company plans to build on its success in Ghana by expanding into other markets. Since beginning operations in Ghana in March of this year, he claims that the order growth for Glovo Ghana services has varied between 30-45% every month.

He predicted that in 2022, the value of the orders would increase between one and 1.5 million euros, and they are currently standing at half a million euros month-on-month. In Accra, Glovo Ghana had around 400 partners, which included medical clinics, supermarkets, electronics stores, and restaurants. 

This on-demand platform supposedly fulfilled over 255 million orders, making it the biggest one originating from mainland Europe. In 80% of the countries where it operates, Glovo holds the top spot in the market. Early on, the business revealed that it would invest as much as €25 million ($30 million) to grow its meal delivery business. 

Read also: Glovo, Shoprite partners to offer home deliveries in Nigeria

What next for Glovo

The email delivery platform expresses its decision to refocus on the other 23 countries where Glovo operates to better assist the millions of users who use the app daily.

Glovo announced that customers’ apps would be inaccessible for placing orders as of May 10, 2024, at 10:00 p.m. By the terms and conditions, partner restaurants can receive pending payments.

As a result of this change, Glovo will shift its attention to other African markets, including those in Nigeria, Ivory Coast, Kenya, and Uganda.

Tags: Glovo
Felicia Akindurodoye

Felicia Akindurodoye

Felicia Akindurodoye is an experienced writer and researcher, whose watchword is originality.

No Result
View All Result

Quick Links

  • Tech News
  • Cryptocurrency
  • Fintech
  • Startups
  • Business

Follow Us:

  • facebook
  • instagram
  • Twitter(X)
  • Linkedin
  • YouTube
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 Techpression.com -Techpression Media Limited

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in .

No Result
View All Result
  • Home
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Reviews
    • How To
    • General News
  • Cryptocurrency
  • Business
  • Fintech
  • Startups
  • Featured
  • Ai
  • Tech TV

© 2025 Techpression.com -Techpression Media Limited

techpression.com
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.