Ringier One Africa Media is shutting down operations in some of its markets across Africa, from ten to just three by the end of this year, tech news platform, Techmoran reports.

According to those familiar with the matter, Cheki Zimbabwe and Cheki Zambia will be closed at the end of the month and staff retrenchments will be announced in less than 48 hours as the firm struggles to move to profitability and run only Cheki Kenya, Cheki Nigeria and Cheki Ghana.

According to the platform, although it is yet to receive clear information on the fate of Cheki Uganda, which is the fourth successful site after Cheki Nigeria, Cheki Kenya, Cheki Ghana; it will likely be shut down after its Tanzania sister site which is also facing the axe.

Techmoran recalls that two years ago, Cheki had over ten country sites but at the moment, there are just five active sites left, that is, Cheki Kenya, Cheki Nigeria, Cheki Uganda, Cheki Tanzania and Cheki Ghana. Instead of raising more cash to operate in all the ten markets, Ringier One Africa Media has decided to tackle a few major markets in Africa before it expands into new ones.