Nigerian logistics start-up Hytch has closed down its operations. Hytch lasted only nine months, operating both in transporting goods and people. Hytch had changed its strategy from carpooling to fulfilling business orders locally and internationally. CEO Laolu Onifade stated that the harsh macro-economic conditions and inability to sustain the business with the money it made were the major reasons for the shutdown. The closure of Hytch was not unexpected, as the two verticals, goods and people, the company operated in were capital-intensive and the market was saturated in the chaotic city of Lagos. Hytch's predecessor GoMyWay also closed down due to lack of funding. Many African investors are unable to continue supporting businesses without the chance of them becoming profitable, like Hytch and GoMyWay. The company was able to attract startups and small businesses but could not maintain its cheap services due to lack of funds.

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