Uber jumps after saying it is trying to increase ride-hailing into West Africa, provide boat service (UBER)

Share with your Friends
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  

TO GO WITH STORY Singapore-SEAsia-transport-Internet-taxi-Malaysia-Indonesia,FOCUS by Bhavan Jaipragas This photograph taken on October 10, 2014 shows a smartphone displaying the Uber app of the timing and availability of taxis within the area at Raffles place financial district in Singapore. Southeast Asia's notorious taxi market is undergoing a shakeout as Uber and homegrown mobile booking applications gain popularity in a region that has long endured inefficient cartels and price-gouging drivers. AFP PHOTO/ROSLAN RAHMAN (Photo by Roslan RAHMAN / AFP) (Photo credit should read ROSLAN RAHMAN/AFP/Getty Images)

  • Shares of Uber climbed as a lot as 5% on Thursday after an organization govt mentioned the ride-hailing service is engaged in talks with regulators in Western African international locations about growth alternatives.
  • Uber additionally talked about a possible boat service in Lagos, Nigeria, in accordance with Reuters. The corporate lately began providing boat rides in Mumbai, India.
  • Watch Uber commerce stay. 
  • Go to the Markets Insider residence web page for extra tales.

Uber is trying to increase into Western Africa.

Shares of the ride-hailing firm rose as a lot as 5% after an govt informed Reuters that Uber is speaking with regulators within the area about increasing its providers in Senegal and the Ivory Coast.

Uber can also be exploring the potential of providing boat rides on waterways in Lagos, Nigeria, to alleviate road visitors, in accordance with Reuters. The corporate began providing boat rides in Mumbai, India, earlier this 12 months. 

Uber already launched a ride-hailing service in Lagos, a metropolis with 20 million folks, in July 2014. 

A bonus only for you: Click on right here to assert 30 days of entry to Enterprise Insider PRIME

The corporate additionally already operates in East and South Africa, and has 36,000 lively drivers unfold throughout sub-Saharan Africa. West Africa represents a largely untapped marketplace for Uber, excluding Nigeria and Ghana.

Brooks Entwistle, the chief enterprise officer at Uber, informed Reuters the corporate is at the moment working with regulators in Senegal and Ivory Coast to launch its providers. 

TOP NEWS  Company meals catering startup Chewse raises $19 million

“We have now talked about West Africa immediately as being a giant progress precedence for us and launch precedence for us shifting ahead,” Brooks Entswistle, Uber’s chief enterprise officer, mentioned in an interview. 

Entwistle additionally mentioned that the inhabitants progress and congested nature of the cities in West Africa make them interesting for the corporate. 

Uber is down roughly 1% year-to-date.

Uber Shares

Now learn extra markets protection from Markets Insider and Enterprise Insider:

Spotify is spending a whole bunch of tens of millions to change into a significant podcasting participant — and Wall Avenue sees large potential for the inventory 

Recent off its IPO, Chewy may be the subsequent firm to get crushed by Amazon

This 26-year-old stared down monetary destroy to boost $340 million for his supply app that is now beating Uber and Deliveroo in large markets

Be part of the dialog about this story »

NOW WATCH: New York Metropolis is getting much more infested with rats. This is why cities cannot do away with them.


Share with your Friends
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •