Food delivery giant Glovo will cease operations in Ghana effective tonight, Friday, May 10.
Despite substantial investments over the past two years aimed at expanding its services, the company says it has encountered challenges in achieving profitability within the Ghanaian market.
The announcement of Glovo’s exit from the Ghanaian market was communicated to its network of restaurant partners via email. In the message, Glovo cited the difficulty in attaining profitability as the primary factor influencing its decision to withdraw from Ghana.
Glovo stated its intention to shift its focus towards bolstering its presence in other African markets where it sees more promising growth opportunities.
Specifically, the company aims to concentrate its efforts in countries like Morocco, Uganda, Kenya, Côte d’Ivoire, and Nigeria.
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.
