Lagos-based mobility company Gokada has filed for Chapter 11 bankruptcy protection in Delaware, aiming to restructure its operations while managing outstanding debts. The filing suggests unsecured creditors may face complete losses, marking a critical moment for the once-thriving startup.
Founded in 2017 by Fahim Saleh and Deji Oduntan, Gokada initially gained traction as a motorcycle ride-hailing service. However, a 2020 Lagos State ban on commercial motorcycles forced the company to pivot to logistics and food delivery. Despite launching services like G-Boat (water transport) and GoMedic (medical deliveries), Gokada struggled with profitability.
The company also faced leadership challenges following the tragic loss of CEO Fahim Saleh in 2020. Now, as it undergoes bankruptcy proceedings, the future of its operations remains uncertain, with broader implications for Nigeria’s urban mobility sector.
Read the full news here: Tech in Africa