Boda Boda hailing company SafeBoda has announced its exit from the Kenyan market effective from November 27, 2020.
In a statement issued on Monday, the technology driven start up said the COVID-19 pandemic had weighed heavily on its operations turning its business sustainability into the future, a going concern.
“SafeBoda has made a very difficult decision to pause rides and send services from November 27, 2020.
“While Nairobi is seeing some economic recovery from COVID-19, bod transportation has been hit hard. This has meant our business cannot sustainably operate in this environment and unfortunately the timeline for a full recovery cannot be certain,” SafeBoda indicated.
The firm’s exit is expected to hit hard at its community of users and business value chain which extends to more than 4000 riders in Nairobi.
The operator which credits itself with professionalizing the boda boda industry in Kenya begun operations in the domestic market in 2018.
SafeBoda has encouraged users to exhaust wallet balances before November 27 by taking rides and sending packages.
The company will however offer refunds to customers with balances beyond the exit day.
In spite of its exit from Kenya, SafeBoda is expected to retain the rest of its continental footprint as its seeks to intensify its presence in other markets including Uganda and Nigeria.