OPay Nigeria has announced plans to halt some of its business units as the impact of the coronavirus pandemic hit harder on global economies and businesses.
In a statement made available on its twitter handle the compny said the affected units will include; the ride-hailing services, ORide and OCar, and logistics service OExpress.
A Statement From OPay. pic.twitter.com/mjvsKle6yH— OPay (@OPay_NG) July 2, 2020
It explained that the 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.
According to OPay, 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.”
The company however made known its intention to focus on the offline and online payment operations which it noted had grown by 44% in the first four months of 2020.