28 C
Lagos
Tuesday, August 4, 2020
Subscribe to News360 Info by Email
Home Business OPay shuts down ORide, OCar, others in Nigeria

OPay shuts down ORide, OCar, others in Nigeria

Popular Chinese-owned African fintech startup, OPay, has announced it is suspending some of its Nigerian operations including ORide, OCar, and OExpress, excluding its payment operation, Opay.

In a statement on Thursday, the company said it is pausing some of its operations “due to the harsh business conditions which have affected many Nigerian companies, including ours, during this COVID-19 pandemic, the lockdown and the government ban.”

According to a statement issued by the company, Opay attributed the demise of the business units to “the harsh business conditions which have affected many Nigerian Companies”, the COVID-a9 Pandemic, the Lockdown, and the Lagos State Government ban on motorcycles.

The decision follows a memo sent by OPay’s investors to the Nigerian team yesterday directing all other verticals but payments to shut down operations and all the Chinese expatriate workers to return to China as soon as possible.

The Nigerian team is said to have already set up a team tasked with the recovery of all the ORide motorcycles on the road.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Most Popular

Meet Nigerian who will buy Shoprite’s stake

Shoprite, Africa’s largest food retailer, announced on Monday it is considering selling off its majority share in its Nigerian subsidiary. 

Sadiya Farouq: School feeding during lockdown cost N523.3m

The Nigerian Government spent about N523.3 million on school feeding programme during the lockdown against the coronavirus pandemic. Minister...

Elumelu threatens legal action over ‘false allegation’ of N41 billion fraud

The former Managing Director of the United Bank for Africa (UBA), Mr Tony Emumelu, has given the chairman of the Senate Committee...

‘We’re Not Leaving’ – Shoprite Reacts To Exit Rumour, Makes U-Turn

ShopRite Nigeria has reacted to the story making the rounds that it intends to close shop in Nigeria. Recall...

Recent Comments