OPay Nigeria has put a hold on three of its units – ride-hailing services, ORide and OCar, and logistics service OExpress.
The payment company said harsh business conditions in the country, the ban on the operations of the commercial motorcycles, and the lockdown induced by COVID-19 pandemic badly impacted its businesses.
“Globally, ride-sharing businesses have been heavily impacted by the pandemic,” the company said in a statement on Thursday.
“But several months ago, foreseeing this issue, OPay had already taken steps to restructure our business focus away from rides.”
OPay said it has invested in and enjoying “accelerated growth” and demand for its “offline mobile money agency, and online digital payment.”
It said its offline and online payment operations grew by 44% in the first four months of 2020.
A senior official of the company also told The Guardian on the phone that the e-commerce platform – OMall – will also not be suspended.
You may be interested
Video of Tinubu lavishing praises on Ambode re-emerges on social mediaWebby - March 6, 2021
Kayode OyeroA video showing All Progressives Congress chieftain, Bola Tinubu, praising former Governor of Lagos State, Akinwunmi Ambode, as “a…
Buhari, Osinbajo receive COVID-19 vaccine on live TVWebby - March 6, 2021
[unable to retrieve full-text content]
CBN introduces N5 incentive per dollar for diaspora remittancesWebby - March 6, 2021
The Central Bank of Nigeria (CBN) on Saturday introduced a new incentive to encourage inflow of diaspora remittances. The incentive,…