GOKADA, Nigeria’s on-demand bike-hailing startup is set to launch GBoat in Lagos.
This is coming a few weeks after the firm revealed it raised about $5.3 million from investors, the startup has declared its plan to introduce boat services. The category will be called GBoat and will be launched before the second quarter of 2020, according to people with knowledge of the matter.
This development was suggested through Gokada’s email update to its customers, adding that it will help them circumvent the notorious Lagos traffic jam.
Boat and ferry services are not new in Lagos State. But the market has not shown much promise in the area of innovation and topnotch services. Issues of safety have also plagued many operators as cases of boat mishaps claiming lives are occasionally recorded.
Over 20 percent of Lagos landmass is occupied by water which signifies huge untapped marketing opportunities in the marine transportation sector.
Market watchers and analysts believe that if any disruption is going to take place in that market, potential players must be ready to innovate and reposition by addressing safety, cost and quality issues among others.
One of the potential competitors to GBoat is ORide, a motorcycle-hailing service in the OPay mobile payment app. With a $100 million released to its African operations, there are hints the company has plans to foray into logistics and other related services.
If the above market prediction is anything to go by, GBoat and maybe, ‘OBoat’ would be contending with Lagos State and a few other players.
