OPay Layoffs
May 2020
OPay announced a layoff affecting 0 employees (70% of its workforce) in May 2020. The company operates in the Finance sector.
0
70%
May 6, 2020
About
OPay, the Opera-backed Nigerian fintech and super app startup, laid off approximately 70% of its workforce in early May 2020. This drastic reduction came as the company faced severe challenges, including a ban on commercial motorcycles ("Okada ban") in Lagos that crippled its popular ORide service, compounded by the economic pressures of the COVID-19 pandemic. The layoffs affected both local and Chinese employees, with some Chinese staff reportedly stranded in Africa due to travel restrictions. Having raised $170 million and aggressively expanded into multiple verticals like ride-hailing, food delivery, and digital payments throughout 2019, OPay was forced to pause most of its programs and scale back its ambitious super app plans significantly.
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