Connect with us

Company News

Uber to Halt Services in Parts of Belgium

Published

on

Uber

Uber will stop its ride-hailing service in most parts of Belgium tomorrow after a court ruling on Wednesday which extends an order given in 2015, banning its p2p (Peer to Peer) UberPop service to also cover professional drivers who provide its ride-hailing service.

Uber told TechCrunch that it is currently closely examining the details of the ruling, in order to arrive at a decision on whether or not to appeal the decision with the country’s Supreme Court.

This also follows a temporary decision to discontinue Uber’s service in Brussels, a decision which was referred to as “exceptional and unprecedented” by the tech giant. The company said that it was merely taking a step to complain about the lack of reform rules which forbid drivers from using smartphones.

After the ruling by the Brussels appeal court, private hire vehicle drivers have been obstructing a major tunnel in the capital of Belgium.

In a statement made concerning Friday’s impending shutdown, the chief of Uber in the country, Laurent Slitsagain criticized the government for not providing a reform which it has been soliciting for, stating that the decision was made depending on regulations which are now outdated as they were written before smartphones.

The company stated that the government has promised a reform but has failed to deliver said reforms for the last seven years.

According to Bloomberg, the shutdown will not be applicable to a small number of drivers who are licensed in the Flemish region of Belgium, and are therefore still permitted to use the application. Uber confirmed that the Appeal Court ruling only applies to drivers with Brussels licenses.

In another statement, Slits stated that the tech giant is hugely concerned about the 2,000 possessors of LVC licenses (rental car with driver licenses) who according to the country chief will lose their ability to generate earnings.

Continue Reading
Comments

Company News

Bolt Increase Fare Price by Over 100% Due to Fuel Scarcity in Nigeria, Riders’ Lament

Ride-hailing company Bolt has reportedly increased its fare price by over 100%, due to the current fuel scarcity in Nigeria as riders lament bitterly.

Published

on

Bolt-Investors King

Ride-hailing company Bolt has reportedly increased its fare price by over 100%, due to the current fuel scarcity in Nigeria as riders lament bitterly.

The fuel price which has led to the limited availability of commercial buses on the road, has seen riders left with no option but to pay for the exorbitant Tfare.

Some riders revealed that they were tasked by Bolt drivers at the point of pickup to pay extra. While some cooperated, several others did not hesitate to cancel the ride.

Several riders took to Twitter to express their concerns over the increased fare prices on the Bolt app

Check out some reactions below

@KEnwemadu wrote,

“Boltapp, it is pertinent that I call your attention to the sharp increase in the pump price of PMS by 264% in  Nigeria, due to the removal of fuel subsidy. In solidarity with other drivers on Bolt, I ask that you review your fare prices  to reflect the current market reality.”

@FowobiofLagos wrote,

“So Bolt driver is not putting on the AC because there’s no fuel, will he accept half of the fare price? Or is there a price for not putting on the AC? Egbami”

@Nmesoma_O wrote,

“Left home at 6 am to get to VI and traffic don already choke at that time lol. Oh, bolt fare was 6k+”

@Victory_amah wrote,

“My bolt fare was 1600, gave bolt guy 2k cash and this man was telling me “thank you very much”. Kindly stop playing with me, Sir. I sat there till he gave me my balance. See how everywhere is and you want me to give you odindin 400 naira. Come off it jare”.

Investors King understands that in a swift development, as regards fare prices across ride-hailing platforms in the country, riders are increasingly abandoning industry giants Uber and Bolt to alternative platforms such as Indrive and Rida, as Fare prices on these apps are said to be slightly lower, compared to that of Bolt and Uber.

Meanwhile, some drivers on Bolt and Uber have hinted that there would soon be an official announcement of an increase in fare price given the fuel scarcity and the confirmation of fuel price adjustment by the Nigeria National Petroleum Corporation (NNPC).

Continue Reading

Company News

Abidemi Ademola Resigns from Unilever After 27 Years

The Board of Directors of Unilever Nigeria PLC has considered and approved the resignation of Abidemi Ademola as an Executive Director with effect from 31st May 2023.

Published

on

Unilever Nigeria Plc

The Board of Directors of Unilever Nigeria PLC has considered and approved the resignation of Abidemi Ademola as an Executive Director with effect from 31st May 2023.

According to a disclosure signed by Afolashade Olowe on the NGX, the resignation becomes effective from 31st May 2023.

The Board of Directors however wishes Ademola all the very best in her future career and expresses their sincere gratitude to her for the many valuable contributions and legal expertise she brought to the Company over a distinguished 27-year career at Unilever.

The company also noted that her replacement on the Board of Directors of Unilever Nigeria will be announced in due course.

Ademola’s profile

Ademola has over 27 years of experience practicing commercial law and corporate governance in Nigeria and West Africa. She is a qualified and seasoned corporate counsel, governance professional, and executive business leader.

Her specialty is to proactively identify legal, regulatory, compliance, and corporate governance risks to business and develop creative mitigation to enable seamless business operations and sustainability. She is passionately driven by a personal purpose to create a lasting legacy by shaping capability in Governance, Risk, and Compliance.

Abidemi has played a key role in the development of powerful legal teams and the accomplishment of numerous monumental legal transactions and initiatives throughout West Africa. Since more than ten years ago, she has assisted the Unilever Nigeria Board in putting world-class Corporate Governance policies and procedures into place, which has enhanced the effectiveness of the Board.

She has a law degree from Obafemi Awolowo University in Ile-Ife, a master’s degree in law from the University of Lagos in Akoka, and a leadership MBA from Walden University in the United States. She is a member of the Governing Council and a Fellow of the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN). She is a Fellow of the WIMBIZ/IE University, Madrid Executive Education Programme for Women on Boards and the WIMBOARD Institute.

Bidemi participates actively in the Nigerian Institute of Directors, the Society for Corporate Governance, and the Nigerian Bar Association. Abidemi served as the first chair of the NBA Section on Business Law’s Corporate Counsel Committee and is currently an officer on the NBA Women Forum’s Corporate Counsel Committee.

Continue Reading

Merger and Acquisition

Seplat Energy and ExxonMobil Extend Share Sale Agreement Amid Legal Proceedings

Published

on

seplate to announce financial results on July 29, 2020

Seplat Energy and ExxonMobil have announced the extension of their Share Sale and Purchase Agreement (SSPA) for the acquisition of ExxonMobil’s share capital of Mobil Producing Nigeria Unlimited (MPNU).

The extension comes as both companies navigate ongoing legal proceedings and seek to secure regulatory approvals necessary for the transaction.

Seplat Energy, a prominent Nigerian independent oil and gas company, has been actively pursuing the acquisition of ExxonMobil’s share capital of MPNU, with the aim of strengthening its position in the industry. However, while the extended agreement is a testament to Seplat Energy’s determination to acquire ExxonMobil’s share unit, the legal challenges surrounding the deal remain complex.

Therefore, the extension of the SSPA will allow both Seplat Energy and ExxonMobil to preserve the transaction until the resolution of the ongoing legal matter with the Nigerian government.

The extended agreement also affords the opportunity for further negotiations and discussions between the two companies. It allows them to explore potential modifications to the original terms, ensuring that the finalized agreement aligns with their mutual interests and objectives.

Continue Reading
Advertisement
Advertisement




Advertisement
Advertisement
Advertisement

Trending