Bolt to invest 500 million euros in Africa.
Development of Bolt in Africa.
The founder’s remark on the investment.
The top mobile app in Africa, Bolt, has revealed intentions to invest €500 million over the next two years into expanding its business there.
The platform will offer more than 300,000 more drivers and couriers the chance to sign up in 2023 due to the development of Bolt services across Africa.
Bolt, which debuted in South Africa in 2016, now offers ride-hailing and delivery services in six other nations, including Kenya, Ghana, Nigeria, Uganda, Tanzania, and Tunisia. The platform has over 47 million users and 900,000 drivers.
Also launched in Nigeria, South Africa, Ghana, Tanzania, and Kenya, Bolt Business is Bolt’s corporate travel division that provides nearby companies with secure, cost-effective options for their employees to travel.
In just seven years, Bolt has provided more than 1 billion trips throughout Africa, and it anticipates that over 1 million drivers will be using the platform by the end of the next six months.
The Founder and CEO of Bolt, Markus Villig said they have been able to create a solid team of 500 individuals in Africa as they would continue to expand their footprint in Africa through the new investment.
According to Markus, the investment will provide new jobs and income opportunities for drivers and couriers, especially when countries are facing economic hardships.
Markus made these remarks after he and the Bolt global leadership team landed in Africa where they would be engaging with key government officials and visiting local Bolt teams in South Africa and Kenya.
Bolt debuted a new option in 2021 that let female passengers select a female driver for their trip.
In addition to improving safety for both drivers and riders in South Africa, this new category gave women a way to investigate potential new sources of income. Because the “women-only” category proved a success in South Africa, it was also introduced in Nairobi and Mombasa, Kenya.