Nigeria’s OPay to pivot to fintech and e-commerce after halting ride-hailing
OPay, a Nigerian mobile payment and fintech company, has announced that it will shut down its ride-hailing services (ORide, OCar) and logistics service (OExpress) to focus more on Nigerian financial and technology services.
In a statement, the company cited the harsh business conditions caused by the COVID-19 pandemic, the lockdown, and government ban on motorcycles in Lagos State as reasons for the decision. The ride-hailing units were not a major part of OPay’s business, and the company has been investing more in its commitment to Nigeria’s financial and technology inclusion.
OPay expressed hope that the fintech part of its business coupled with goods’ platform will form the future of Nigeria’s technology development.