Bolt has announced plans to invest €500m in its operations in Nigeria and other African countries.
According to the firm, the funds will be used to expand its services in Nigeria and other African countries and create opportunities for over 300,000 new drivers and couriers to join its platform in 2023.
It further revealed that it has surpassed one billion rides in Africa in seven years.
The Founder and Chief Executive Officer, Bolt, 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,F which offers massive potential to create new jobs and income opportunities for drivers and couriers.”
In a statement, the firm disclosed that since it launched in South Africa in 2016, it has expanded to Kenya, Ghana, Nigeria, Uganda, Tanzania, and Tunisia with over 47 million customers and 900,000 drivers.
The Regional Manager of West and North Africa, Ireoluwa Obatoki, added, “While many companies are scaling back investments given the macroeconomic environment, we recognise 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.”
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