Bolt, Africa's leading mobility app, has announced plans to invest €500 million in its African operations over the next two years.
The funds will be used to expand Bolt services in Africa and attract over 300,000 new drivers and couriers to the platform by 2023.
Bolt, which began operations in South Africa in 2016, now provides ride-hailing and delivery services in six additional countries: Kenya, Ghana, Nigeria, Uganda, Tanzania, and Tunisia, with over 47 million customers and 900,000 drivers on the platform. Bolt Business, Bolt's corporate travel arm, has also launched in Nigeria, South Africa, Ghana, Tanzania, and Kenya, providing local businesses with safe and affordable travel options for their employees.
Bolt has also announced that it has exceeded 1 billion rides in Africa in just seven years and anticipates that the number of drivers on the platform will exceed 1 million in the next six months.
Founder and CEO Markus Villig said, “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.”
Markus' remarks came as he arrived in Africa with Bolt's global leadership team to visit local Bolt teams in South Africa and Kenya as well as meet with senior government stakeholders.
Bolt launched a new service in 2021 that allowed female riders to select a female driver for their journey. This new category not only increased safety for both drivers and riders in South Africa, but it also allowed women to explore new income opportunities. Following the success of the 'women-only' category in South Africa, it was also launched in Kenya's Nairobi and Mombasa.
