This was made known by the company in a statement shared on its official social media pages.
The reason for the discontinuation of the aforementioned services, according to Opay, is due to the harsh realities of doing business necessitated by the COVID-19 Pandemic.
“We can confirm that some of our business units including the ride-hailing services, ORide, OCar as well as our logistics service 0Express will be put on pause. This is largely due to the harsh business conditions which have affected many Nigerian companies, including ours, during this COVID-19 pandemic, the lockdown, and government ban.” The statement read.
Opay explained that ride-hailing services across the world have been affected by the COVID-19 pandemic and that Opay was not an exception. The company explained that it had the foresight to expect the effect of COVID-19 on the ride-hailing industry and that it has taken steps to make sure that it doesn’t affect the Opay brand.
It said, “Globally, ride-sharing businesses have been heavily impacted by the pandemic. But several months ago, foreseeing this issue, OPay had already taken preemptive steps to restructure our business focus away from rides. It is worthy to note that this final restructuring has minimal impact on OPay as a whole business. It is important to clarify that ride-sharing had always been only one part, and not a major part of OPay’s diversified business in Nigeria.”
The company has decided to focus on the payment part of its business which it explained, has seen huge growth even during the lockdown across Nigeria.
According to them, “During the pandemic, we have seen continued demand for our offline mobile money agency, and online digital payment, which remain the core of our business. From January to April 2020 for example, we witnessed a 44% growth of offline and online transaction value even in the midst of pandemic and lockdown. This is a testament to the high demand for flexible and easy financial services by Nigerians. OPay remains one of the most well-funded and profitable mobile money platforms in Nigeria, and we will continue to do more for our customers.”
In conclusion, Opay restated its commitment to the growth of the eCommerce sector in Nigeria. Promising that the company will continue to align both customer and business units in order to continue growing.
“We believe a financial platform coupled with goods’ platform will form the future of Nigeria’s technology development.” The statement concluded.