Bolt to invest over Ksh. 67 billion in Africa in expansion drive

Bolt has announced plans to invest €500 million (Ksh.67 billion) to enhance its operations across Africa over the next two years.

The company says the funds will be used to expand Bolt services in the region and create opportunities for over 300,000 new drivers and couriers to join the platform in 2023.

The announcement was made by company founder and CEO Villig Markus who is leading a team of Bolt’s global leadership on a tour to meet the company’s teams in Kenya and South Africa.

“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 said.

Bolt launched its African operations starting off with South Africa in 2016 and quickly gained traction in other markets. The company now operates in Kenya, Ghana, Nigeria, Uganda, and Tunisia. It reports that its customer base is around 47 million customers and 900,000 drivers on the platform.

Bolt Business, the firm’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.

Takura Malaba, Regional Manager – East and Southern Africa, said that the popular ride-hailing company continues to impact many people across the continent, especially at a time when many organizations are scaling down investments.

“We operate in markets where unemployment is often 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 providing millions of customers with a safe, reliable and affordable way of moving around their city,” Malaba said.

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