Uber shuts operations in Nigeria and Uganda with immediate effect

According to some people on X, they shut down immediately, while rides were still active. Sounds like an unplanned (and quite crazy) action.

https://x.com/gergelyorosz/status/2095256757178188113

Makes sense, Uber's 30-50% cut is far too much. How can they compete with inDrive which only takes 10%. And on inDrive you set your own fare.

Rides are 20-40% cheaper elsewhere, why would anyone pay extra for Uber?

Uber was never really in Nigeria much, despite apparently being here a long time. I use ride-hailing a lot, and I've never used it because it is not available in my state, or in most states, for that matter.

Bolt (the CEE ridesharing app) is the primary player in Nigeria. In Uganda it's primarily a bunch of local startups.

Driving for Uber in Lagos I suspect has to be very challenging

why they do that

has Uber had a positive ROI on the billions invested in it? I am pretty sure the return on the preferred price from the late rounds 10 years ago is basically zero. Net income has always been negative or close to zero. From a consumer perspective, in late stage cities, uber rides are the same or more expensive than old taxis, and the quality of vehicles is lower. what was it all worth?

US SOCOM also just pulled out of Nigeria.

The rumor is that this is becoming politically sensitive, so the US DoW is turning things over to none other than Erik Prince (Blackwater, Xe, etc).

Nigeria is an important source of minerals, for example: lithium.

Africa is being hotly contested right now between ISIS, the US / West, China, and state-local political factions.

lucky you!

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Does this mean that america is planning to bring democracy to uganda and nigeria?