Uber’s decision to cease operations in Nigeria in early September has led Moove, its key vehicle-financing partner in Africa, to exit the market. Uber ended its 12-year presence in Africa’s most populous country after reviewing its business priorities.
The Nigerian-founded startup, in which Uber is a global investor, relied on its partnership and integration with Uber to finance vehicles for drivers. After Uber’s departure, Moove’s business model in Nigeria became unsustainable, prompting the company to wind down its local operations.