Bolt, the ride-hailing and delivery platform has announced it has achieved a significant milestone by exceeding one billion rides on its platform in the seven African countries where it operates. The company's achievement highlights its significant growth in Africa, a market where it continues to expand its services.
The company also revealed plans to invest €500 million ($572 million) over the next two years to expand its services on the continent. This investment will create opportunities for over 300,000 new drivers and couriers to join the platform in 2023, while also expanding its services to more cities on the continent.
Bolt Business, the corporate travel arm of the company, has already been launched in five African countries, providing safe and affordable travel for local businesses and their employees.
With a presence in over 45 countries and more than 100 million users worldwide, Bolt offers a range of transportation services, including ride-hailing, food and grocery delivery, and car rental. It also provides a women-only ride service in South Africa and Kenya.
Bolt's €500 million investment in Africa shows its dedication to expanding its services on the continent as the ride-hailing market continues to grow. The company expects to reach over one million drivers on its platform in the next six months.
This investment will support Bolt in expanding its market share in Africa, a market with a significant opportunity for growth as the continent's population continues to urbanize and embrace technology-based solutions for transportation.
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