The Lagos’s BIG Ban – $400 Million On The Line

The Lagos’s BIG Ban – $400 Million On The Line

OPay has raised at least $200 million. This includes the $50 million it raised in June 2019. Max has raised about $8.1 million and Gokada about $5.6 million. For these three companies, investors may see their plays gone from tomorrow when the ban on motorcycle kicks in. Add the keke or okada micro-investors, you may see at least $400 million blown. It is important to note that without the riders, OPay business model fails since the riders are the mobile financial centers! Yet, as you debate this policy, the statistics from government hospitals which show 10,000 accidents with 600 deaths due to motorcycle related accidents must be part of the equation.

Tell me – what happens to Gokada, Opay, and Max in Lagos state?


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