Finance

Nigeria: Motorbike hailing company Gokada secures $5.3 mln to boost activities

Monday, 27 May 2019 17:15
Nigeria: Motorbike hailing company Gokada secures $5.3 mln to boost activities

(Ecofin Agency) - American firm Rise Capital has invested $5.3 million in the capital of Gokada, a Nigerian motorbike hailing company.  

At the same time, Ayodeji Adewunmi, former CEO of Jobberman, a Nigerian job listing website, is joining Gokada as co-founder. "It is an incredible time to be joining Gokada on this journey to transform transportation in Nigeria and the rest of Africa. I am truly excited about the promise of Gokada becoming the operating system of how cities function optimally and efficiently across Africa. There is no doubt in my mind that this will become one of the most important companies in Africa,” he said.

The transport company will use this resource to grow its activities. It will recruit new riders. According to the report “Africa Two-Wheeler Market By Vehicle Type by country, competition Forecast and Opportunities, 2011-2021” published by TechSci Research, the African motorbike market should reach above $9 billion by 2021. It would be developed mainly in Nigeria, South Africa, Tanzania and Uganda.

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