Uber to withdraw from some African, Asian markets?

Shared travel company Uber may soon withdraw from some of its international markets, including 15 African cities, as its new majority shareholder insists on it.

Rajeev Misra, a board member of SoftBank, believes that the shared travel company has a better chance of success and profit if it focuses on its core markets such as the US, Europe, Latin America and Australia. Misra is expected to join Uber’s board of directors as part of the deal.

Since entering its first African market in 2013, Uber has quickly grown and operated in eight countries, including South Africa, Kenya, Nigeria, Tanzania, Uganda, Ghana, Egypt and Morocco. Its expansion is taking place despite Little Ride’s competition in Nairobi and the Estonian Taxify on most African markets. Taxify is partly funded by the global competitor of Uber – the Chinese Didi Chuxing.

Read the full post at financeapprise.com