"We are sad to announce that InfraCo Africa Limited the minority shareholder has now filed for the liquidation of EkoRent Africa Limited in the High Court of Kenya," the statement read in part.
Furthermore, the company planned to increase market competition against established brands.
The departure of NopeaRide from the Kenyan market comes just over a year after the company received Ksh24.5 million (€200,000) in funding.
The funding was intended to assist the company in expanding its service radius and building more solar charging hubs in Nairobi in preparation for future growth.
What are your thoughts concerning this update? Feel free to share your thoughts in the comments section below. Also, make sure you follow me for more updates.
Content created and supplied by: Chum3 (via Opera News )
Opera News is a free to use platform and the views and opinions expressed herein are solely those of the author and do not represent, reflect or express the views of Opera News. Any/all written content and images displayed are provided by the blogger/author, appear herein as submitted by the blogger/author and are unedited by Opera News. Opera News does not consent to nor does it condone the posting of any content that violates the rights (including the copyrights) of any third party, nor content that may malign, inter alia, any religion, ethnic group, organization, gender, company, or individual. Opera News furthermore does not condone the use of our platform for the purposes encouraging/endorsing hate speech, violation of human rights and/or utterances of a defamatory nature. If the content contained herein violates any of your rights, including those of copyright, and/or violates any the above mentioned factors, you are requested to immediately notify us using via the following email address operanews-external(at)opera.com and/or report the article using the available reporting functionality built into our Platform See More