…US-based firm leaves four African countries in one year despite a market projected to hit $3.4bn by 2031
Uber’s decision to leave Nigeria and Uganda is more than the withdrawal of a global ride-hailing giant from two African markets.
It is the latest sign of how difficult it has become to build a sustainable ride-hailing business in Africa, where demand for affordable mobility is growing but the economics of providing it are becoming increasingly challenging.
The US-based company announced on Wednesday that it would wind down its operations in Nigeria and Uganda effective September 2, following a review of its business priorities and investment focus across the continent.
“After careful consideration, we have made the difficult decision to discontinue operations in Nigeria and Uganda as part of evolving business priorities and investment focus across the continent,” Uber said in a statement.
