Spanish food delivery giant Glovo has ceased operations in Ghana After a 3.5 million euros ($3.7 million) Investment. Glovo announced its decision to withdraw from the Ghanaian market due to profitability challenges, focusing instead on other African markets like Morocco, Uganda, Kenya, Côte d'Ivoire, and Nigeria. The company cited the need for substantial and prolonged investment to attain profitability in Ghana, leading to the redirection of resources to bolster services in twenty-three other countries where it operates.
Effective May 10, 2024, Glovo's application will cease to accept orders in Ghana, with outstanding payments to restaurant partners to be settled according to agreed terms. The company faces systemic challenges in the country's food delivery ecosystem, including high taxes, low wages, and inflationary pressures.