Kenyan Ride-Hailing Company Mondo Ride Aims For Further African Expansion
Kenyan ride-hailing firm Mondo Ride is on a mission to continue its expansion across the continent, with three new cities set to receive its services in the coming year.
The company did not specify which three cities it would be launching new operations in, but it will be expanding from its current markets in Kenya, Tanzania and Uganda, according to ITWebAfrica.
The company provides ride-hailing services that rival competitors Uber and Taxify in Kisumu, Dar es Salaam and Kampala, focusing on the East African market as part of their growth strategy.
Users request a ride via a dedicated app, and drivers pick them up before taking them to their final destination.
The time has come to move beyond those established markets into a handful of new cities in Africa, and co-founder and CEO, Troels Anderson is confident that the expansion will be a success based on the initial response from stakeholders.
“We are delighted to bring Mondo to provide the much-needed mobility these fast-growing economies need,” said Anderson, according to Techjaja.
“We’ve been overwhelmed by the positive response by the customers and drivers in each city and are excited to work with the local community,” he added.
In January Mondo Ride announced that they had raised a second financing round of $2 million for expansion, bringing the total investment to $5 million, according to Ventureburn.
The latest investment in the company was raised from investors in Egypt and the United Arab Emirates.
Mondo Ride expands while Uber steps back
While Mondo Ride aims for further expansion, U.S.-based competitor Uber recently made the decision to step away from one of its established markets.
Uber has decided to suspend its operations in Morocco, where it has been serving customers in two cities over the last few years, due to regulatory concerns.
After three years of operation in Morocco, Uber sited a lack of clarity with regards to the regulatory environment as the reason for a decision to suspend service in Casablanca and Rabat with immediate effect, according to ITWebAfrica.
The company used the term suspended as a means of communicating their willingness to return to the market should things change in their favor.
The decision leaves 300 partner drivers in Morocco without the ability to make money from the service, while around 19,000 Uber users in the country will no longer be able to hail cabs from the company, according to Techcrunch.