New Taxi App Launches in Nigeria, Aims to Challenge Bolt and Uber with Cheaper Rides
- A new taxi app has launched in Nigeria, targeting the market share of established ride-hailing apps
- The app, called Gab Taxi, promises to offer safer and cheaper rides than its competitors
- Bolt, Uber, and Taxify are some of the current players with the largest market share
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A new taxi app called Gab Taxi has been launched by E.F. Network Limited, aimed to disrupt the ride-hailing market in Nigeria.
Currently, the market is dominated by established players like Bolt, Uber, and Taxify.
Source: UGC
Speaking at the launch of the new app, Gideon Egbuchulam, the chairman and CEO of EFGroup, said over 30 local software engineers worked towards developing Gabi taxi.
Leadership reports that Gabi Taxi now hopes to use enticing promises to attract customers and become Nigerians' favorite.
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Egbuchulam said:
“One of our key selling points of Gab is its affordability. We have alsod developed a business model that allows drivers to offer their services at a lower cost than some of the more established ride-hailing companies."
“This is achieved by reducing overhead costs for the customer and offering a higher percentage split to drivers”.
Egbuchulam highlighted the challenges faced by drivers, such as fuel scarcity and low daily passenger counts, resulting in meager earnings after deducting fuel and repair costs, the Nation reports.
To address this, Gab Taxi offers drivers comparable benefits while charging only half the commissions of its competitors.
He said:
"As a first step, Gab taxi will will collect 15 per cent of the fare as against the prevailing rate of 20 to 30 per cent being charged by foreign apps."
"We have also established a relationship with security agencies to reduce the risks facing drivers and passengers, vets drivers and passengers for safety purposes and operates local office and Customer service lines day and night
"Also, Gab drivers will be given customized taxi handset and will be assisted to renew their car documents earlier to avoid being disconnected from the platform."
GTB beats Dangote, MTN to lead list of 10 most profitable companies in Nigeria
The list of Nigeria's most profitable companies has been revealed based on financial results in 2022
MTN takes the first spot when it comes to revenue; however, GTB leads the table in profit margin
The figures are based on information gathered from companies' audited results released on the NGX.
Source: Legit.ng
