Nigeria’s leading e-hailing and shared-mobility company, Transtura, has announced the acquisition of WazoMoney, a fintech startup which provides simplified payment solutions, in order to launch its marketplace and payment solutions designed to cater for the general transportation needs of Nigerians.
Transtura in a statement in Lagos disclosed that the strategic acquisition is aimed at redefining the mobility sector across the country through technological innovations so as to proffer sustainable solutions that address the issues affecting the growth of the transport industry. This is in a bid to champion the need for youth empowerment while also contributing to the socio-economic development of the Nigerian economy through the promotion of cashless payments.
Commenting on the successful acquisition of WazoMoney, Vincent Adeoba, the Chief Executive Officer (CEO) of Transtura, noted that the recent development reinforces the company’s commitment to drive unique digital innovations across the country’s financial and transportation ecosystems.
“Our vision as a customer-centric company is to become the most preferred everyday mobility superapp across the Nigerian market, and the African continent, through the provision of innovative service offerings, ranging from digital payments, marketplace, shared mobility, amongst other related services. To achieve our long-standing goals, we are leveraging technology and automations to improve the experiences of people when either riding or paying for services in the public transit and mobility space. It is based on this desire to effect a change that we are building a platform that enables commuters, drivers, merchants, car owners and transport companies to make and receive payments for rides and travel services, purchase of motor parts, insurance coverage, car registration, documents renewal, car care, fueling and other needs through a marketplace and spend management solutions which will address some of the bottlenecks stiffening the advancement of the nation’s transportation sector,” he said.
Speaking on the development, the Chief Transformation Officer (CTO) for Transtura, Philips Olajide, stated that the recent acquisition would remodel the operations of both the finance and transportation sectors nationwide.
“For us at Transtura, we truly acknowledge the fact that Nigeria serves as a home of enormous opportunities designed to support ground-breaking technological solutions. This is because these innovations play an integral role in solving peculiar challenges which impact the country’s socio-economic standing. It is on this backdrop we, as a brand, seek to create unique solutions that address the myriads of problems plaguing the nation’s public transport sector with a special focus on marketplace, digital payments, intracity and intercity commuting,” he said.
Transtura is a public transportation management company that provides comfortable, reliable, safe, and affordable on demand bus-ride-sharing services using technology-driven solutions. This product and service expansion reiterates the company’s commitment to champion innovative solutions in order to contribute to the nation’s socio-economic development while also deepening financial inclusion across all levels.