By Aduragbemi Omiyale
Nigeria, one of the major markets of the leading mobility app in Africa, Bolt, is set to benefit from the fresh €500 million earmarked for expanding the company’s services on the continent.
The ride-hailing firm said it intends to inject the funds into its African operations in the next two years after the demand for its services is increasing despite the harsh economic challenges.
According to a statement, Bolt hopes to create opportunities for over 300,000 new drivers and couriers to join the platform in 2023.
“While many companies are scaling back investments given the macroeconomic environment, we recognize the transformational effect platforms like Bolt can have in Africa.
“We operate in markets where there are unique challenges, and by continuing to expand our services, we will offer people new opportunities to earn a good living by being a driver, as well as providing millions of customers with a safe, reliable, and affordable way of moving around their city,” the Regional Manager for West and North Africa at Bolt, Ireoluwa Obatoki, said.
The founder of Bolt, Mr Markus Villig, is in Africa with Bolt’s global leadership team where they are visiting local Bolt teams in South Africa and Kenya and meeting with senior government stakeholders.
The company was launched in South Africa in 2016 but now operates ride-hailing and delivery services in Kenya, Ghana, Nigeria, Uganda, Tanzania and Tunisia, with over 47 million customers and 900,000 drivers on the platform.
Its corporate travel arm, Bolt Business, has also been introduced in Nigeria, South Africa, Ghana, Tanzania and Kenya, offering local businesses safe and affordable ways for their employees to travel.
“Over the past seven years, we have built a strong team of 500 people in Africa, and we remain committed to investing in local communities for the long term.
“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,” Mr Villig stated.
Within seven years of its inception, Bolt has surpassed one billion rides in Africa and expects the number of drivers on the platform to hit over one million in the next six months.
In 2021, Bolt introduced a new service that allowed female riders to choose a female driver for their journey. This new category not only increased safety for both drivers and riders in South Africa but also provided women with a way to explore new earnings opportunities.
Following the success of the ‘women-only’ category in South Africa, it was also launched in Nairobi and Mombasa, Kenya.
Adedapo Adesanya 
Modupe Gbadeyanka