Key Insights on Vite’s Market Potential

Africa’s urban transport market currently stands at more than four billion dollars annually. and growing. There are over 40 emerging cities that contain a population of a million or more, while not having any ridesharing service. Meaning that hailing a cab is done either by raising your hand on the street or by calling the driver directly, provided you already have his contact. This is massively inconveniencing, stressful and time wasting.

Vite’s market potential is tremendous, as we are focused on delivering our refined ridesharing services across such cities, starting from Africa and the Mena region, with expansion plans for Asia and Europe. We believe ridesharing is the future of urban transportation and emerging cities represent the next big markets, where demand and adoption will generate the highest revenue impact in the next few years. In Africa, the future is urban.

Cities are developing faster than ever before, with more people are rapidly migrating into cities in search of jobs and better conditions of life. Over a billion people will join the workforce by 2035, most of them residing in urban centers. Getting around safely and affordably is a consistent need amongst urbanites, but public transport is fundamentally broken and can no longer keep up with demand. Local taxis have also become exploitative, unsafe and known to deliver nothing short of poor customer experience. This is certainly one of the most important challenges of the next decade and we are excited to play the part in the solution. Vite’s innovative ride dispatch platform and seamless payments with Vitecoin will substantially improve the quality of city life with the possibility of global scaling of our business.