Bolt says it will invest €500m in Africa in the next two years
Mobility app Bolt says it will invest €500-million in its African operations over the next two years.
The funds will be used to expand the company’s services in Africa and to create opportunities for more than 300 000 new drivers and couriers to join the platform in 2023.
Following its launch in South Africa in 2016, Bolt now operates ride-hailing and delivery services in six additional countries, namely Kenya, Ghana, Nigeria, Uganda, Tanzania and Tunisia, with more than 47-million customers and 900 000 drivers on the platform.
Bolt Business, Bolt’s corporate travel arm, has also been introduced in Nigeria, South Africa, Ghana, Tanzania and Kenya, offering the employees of local businesses a “safe and affordable way” to travel.
Bolt has also announced that it has surpassed 1-billion rides in Africa.
It also expects the number of drivers on the platform to hit more than 1-million in the next six months.
“Over the past seven years, we have built a strong team of 500 people in Africa and we remain committed to investing into local communities for the long term,” says Bolt founder and CEO Markus Villig.
“At a time when many countries are facing economic challenges, we will continue to grow our presence in Africa through this new investment, which offers massive potential to create new jobs and income opportunities for drivers and couriers.”
In 2021, Bolt introduced a service which allowed female riders to choose a female driver for their journey.
Following the success of the ‘women-only’ category in South Africa, it was also launched in Nairobi and Mombasa, Kenya.
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