Bolt to invest €500m in Africa
Bolt has announced plans to invest €500 million in Africa over the next two years.
The funds will be used to expand Bolt services and create opportunities for over 300,000 new drivers and couriers to join the platform in 2023.
Having launched in South Africa in 2016, Bolt now operates ride-hailing and delivery services in six other 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 been introduced in Nigeria, South Africa, Ghana, Tanzania and Kenya, offering local businesses safe and affordable ways for their employees to travel.
Bolt has also announced that it has surpassed one billion rides in Africa in just seven years and expects the number of drivers on the platform to hit over one million in the next six months.
Founder and Chief Executive Officer, 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 into 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.”