Business
Cashless Dream Crumbles: Lagos Danfo Startup Exposes Union's Grip
A promising Chinese-backed startup aimed to revolutionize Lagos' iconic danfo buses with cashless payments. Despite initial success, the venture ultimately failed, succumbing to the deep-seated complexities of local transport unions and their demands. This serves as a stark lesson in navigating Nigeria's intricate informal economy.
Techpoint Africa·September 8, 2026AI-curated
In 2019, a Chinese-backed mobile payments startup put QR codes in Lagos danfos and said it was handling almost 10,000 transactions a day. Within a year it was paying union leaders weekly to stay on the road. It wasn't enough
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This story was sourced from Techpoint Africa and rewritten in SEVA editorial voice. Read the full original at the source.