Bolt to expand operations in Africa with a €500 million investment in the next two years
Over the next two years, Bolt expects to invest €500 million (Ksh. 67 billion) to improve its operations in Africa. According to the firm, the money will be used to increase Bolt services in the area and open doors for more than 300,000 new drivers and couriers to sign up for the platform in 2023.
Villig Markus, the company’s founder and CEO, made the announcement while leading a group of Bolt’s worldwide leadership on a tour to meet the teams in Kenya and South Africa.
We have amassed a capable staff of 500 individuals in Africa over the past seven years, and we are still dedicated to making long-term investments in local communities. We will continue to expand our footprint in Africa through this new investment, which has a huge potential to create new jobs and income opportunities for drivers and couriers, Markus said. At a time when many nations are experiencing economic difficulties.
In 2016, Bolt began operating in Africa, initially in South Africa, and quickly found success in more areas. Currently, the business is active in Kenya, Ghana, Nigeria, Uganda, and Tunisia. It claims to have 900,000 drivers on the platform and about 47 million consumers overall.
The company’s corporate travel division, Bolt Business, has also been launched in Nigeria, South Africa, Ghana, Tanzania, and Kenya, providing regional companies with safe and economical options for their staff to travel.
The well-known ride-hailing company still has a significant impact on many people on the continent, according to Takura Malaba, Regional Manager for East and Southern Africa, especially at a time when many companies are cutting back on their spending.
According to Malaba, “We operate in markets where unemployment is frequently high 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 giving millions of customers a safe, dependable, and affordable way of moving around their city.