Speaking at Moonshot by TechCabal in Lagos, Adeniyi Adebayo, Chief Executive of RideTech and Chief Business Officer at Yango Group, highlighted the importance of locally developed infrastructure, strategic partnerships and new approaches to financing for scaling Africa's digital economy, drawing on Yango's experience across 15 African markets.
Moonshot by TechCabal 2026 took place on 28–29 October at the National Theatre in Lagos under the theme "Courage & Conviction: Building for a New World".
Adebayo Adebayo, Chief Executive of RideTech and Chief Business Officer at Yango Group, participated in the panel "Building the future of commerce infrastructure", alongside Seun Alley, Founder and CEO of Fez Delivery, and Adetayo Bamiduro, Co-founder of MAX. The discussion was moderated by Ifeduyi Oyesanmi, Managing Editor of TechCabal.
Building the foundations of Africa's digital economy
Digital payments have made it easier for African businesses to transact, but commerce also depends on the ability to move people and goods efficiently. This requires infrastructure that goes far beyond the digital transaction itself.
During the panel, Adeniyi Adebayo explained that behind the simplicity of booking a ride or ordering a delivery lie accurate mapping and location data, routing technologies, fleet capacity and local transport operations.
"Utilities have to be built by people on the continent," he stressed, emphasising the importance of developing infrastructure in close collaboration with local partners. This often means building essential capabilities from scratch to address incomplete mapping data and gaps in local transport networks.
Drawing on Yango Group's experience in Côte d'Ivoire, where the company launched its first ride-hailing operations in 2018, Adebayo illustrated why successful expansion requires more than replicating business models developed elsewhere.
"When people think about adapting a product to a market, the first thing they think is, 'I just need to translate my app from English to French and I can put it in the hands of users in a French-speaking country,'" he explained, highlighting the need for deeper adaptation to local consumer behaviour and technological readiness. He also emphasised the role of partnerships with existing transportation stakeholders, stating that "the unions are our partners."
This understanding of local markets also shapes Yango Group's expansion strategy. The company takes a city-by-city approach, considering local infrastructure, consumer needs and demand for digital services. "We are constantly looking at what is happening, not at the country level, but at the city level," Adebayo said.
Africa's ride-hailing market is estimated to reach $2.64 billion in 2026, with projections pointing to $3.25 billion by 2031, according to Mordor Intelligence. Yango Group operates across 15 African markets, having facilitated more than 340 million rides and connected over 500,000 drivers to its platform across the continent, according to company figures reported in June 2026. Beyond ride-hailing, Yango Group has developed a broader ecosystem of digital services, including delivery, foodtech and e-commerce.
Financing the growth of local transport businesses
Adebayo also highlighted the role of dedicated financing programmes developed with financial institutions and local partners in helping transport businesses access funding for new vehicles and fleet expansion.
Operational data helps financial institutions assess drivers' activity and make informed financing decisions, allowing ride-hailing platforms to facilitate access to financing without acting as lenders themselves.
Access to financing helps sustain a cycle of growth: it enables transport businesses to expand their fleets in response to growing and predictable demand, improving service availability and generating more rides and revenue that support further investment.
Supporting African innovation through TC Battlefield
Yango Group's participation in Moonshot 2026 extended beyond the panel discussion, with the company serving as official sponsor of TC Battlefield 2026, the conference's startup pitch competition aimed at supporting emerging African technology businesses.
Adeniyi Adebayo also served as a member of the TC Battlefield judging panel, sharing his experience in developing and scaling technology businesses across African markets. The competition gave emerging entrepreneurs an opportunity to present their solutions, connect with investors and receive feedback from industry leaders.
