Uber Technologies shut down its operations in Nigeria and Uganda on September 2, ending a 12-year run in Africa's most populous country, while also announcing a reduction of about 3,300 roles, roughly 10% of its global staff. The company said it is focusing investment on markets where it can add the most value for drivers at scale, citing Nigeria's projected GDP per capita of about $1,556 for 2026 and a ride-hailing market valued at roughly $450 million last year, which is less than 1% of Uber's trailing 12-month revenue of over $55 billion. CEO Dara Khosrowshahi described an organization with too many layers and fragmented ownership, and the company is reallocating spending toward ride-sharing, delivery, and robotaxis, having committed more than $10 billion to autonomous vehicle partnerships, including plans with Rivian and Nvidia. Uber also closed at $76.45 on September 2, up 1.61%, with a market capitalization near $156 billion, and its stock remains well below its 52-week high of $101.99.
Uber Technologies IncUber exits Nigeria and Uganda and cuts 3,300 jobs, focusing on profitable markets.
NVIDIA Corporation
Rivian Automotive Inc