<\/p>\n
Ride-hailing operator Yango Group, plans to invest at least $150 million into African expansion this year, as the Dubai-based platform pushes into new markets.<\/p>\n
With one million drivers and operations in 35 countries globally, the company with a footprint spanning more than a dozen African markets, is targeting entry into 10 additional countries in the continent this year.<\/p>\n
While rivals concentrated on Africa\u2019s biggest economies, Yango spent years building ride-hailing networks in smaller and less contested cities across the continent.<\/p>\n
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\u201cWhen people go to Africa, typically you go to the top four countries Nigeria, Egypt, South Africa and Kenya,\u201d said Yango Africa Chief Executive Officer Adeniyi Adebayo. \u201cWhat that creates is a lot of capital chasing the same goal in all of these markets, and you\u2019ve got a race to the bottom.\u201d<\/p>\n
The company expects growth in Africa to exceed 60% this year, betting that secondary urban markets and locally-owned transport networks offer a more sustainable model than the heavily subsidised gig-economy approach used by many competitors.<\/p>\n
\u201cWe don\u2019t work directly with drivers in any of our markets. We work with transport operators,\u201d Adebayo said. This approach reduces the need for upfront consumer subsidies, allowing expansion to be driven more by operational rollout, he said.<\/p>\n
West and Central Africa remain at the core of the company\u2019s expansion strategy, with the main growth constraints currently including currency volatility and regulatory frameworks, such as vehicle caps, licensing costs and local ownership requirements, according to a recent KPMG Advisory report. Fuel costs can account for as much as 25% of total fares, a pressure currently being intensified by the war in Iran, and prompting operators to accelerate a longer-term shift toward electric vehicles, it said.<\/p>\n
This year Yango is delivering a thousand EVs to Abidjan alone, Adebayo said.<\/p>\n
\u201cIf you look at the top 50 cities across West Africa and look at how many of those cities we\u2019ve covered, we\u2019ve barely started,\u201d he said. \u201cWe\u2019re also looking at smaller markets in the continent\u2019s south, including Namibia, Botswana and Mozambique.\u201d<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Yango #targets #African #markets #150m #push<\/p>\n","protected":false},"excerpt":{"rendered":"
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