Uber aiming capturing West African markets

Uber aiming capturing West African markets

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Uber Technologies Inc is discussing its expansion plans with regulators as, according to an executive on Thursday, global ride-hailing company is intending expanding its service into two countries in Western Africa as well as to provide a boat service in Lagos, megacity of Nigeria.

Countries in sub-Sahara region of Africa are facing issues like lack of mass transport system that could be efficient enough to meet the requirements of cities growing at the faster pace, population growing at the rapid speed and level of cars owned by the people, which is of sub-standard.

Uber claims of having about 36,000 drivers active on its platform in sub-Saharan Africa as its service is operational in Southern and Eastern African countries but it is the West African region with the exception of Ghana and Nigeria where the ride-hailing firm lacks presence.

For those reasons, Uber is now highlighting the region for being suitable for its expansion plans, said company’s Chief Business Officer Brooks Entwistle talking to Reuters. For possibility of its service to be launched in Senegal and Ivory Coast, company was in talks with the regulators, he added.

Entwistle described both Dakar and Abidjan as an opportunity for the company which is logical from business point of view. Without disclosing the further details of the discussions, he told that the talks were at an initial stage.

Uber explained to the regulators that the company is currently prioritizing big growth in the Western Africa and in the process of step forward the company will be giving the priority to launching services in that region, said Entwistle.

Nigeria is not only the largest economy in Africa but is also the most populous country in that continent, while Senegal and Ivory Coast have been recognized among the world’s fastest growing economies by the International Monetary Fund.

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I handle much of news coverage for tech stocks, and occasionally cover companies in different sectors. In the past, I've written for other financial sites and published independent investment research, primarily on tech companies. I have a B.A. in Economics from Columbia University. I'm based out of San Diego, but grew up in Southern New Jersey. I play basketball and tennis in my spare time, am a long-time (and long-suffering) fan of Philadelphia's sports teams, and alternate daily between using an iPad Air, a Galaxy Note 3, and one or two Windows PCs.

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