Bolt will make investments Sh66.8 billion (500 million euros) in its operations in Africa over the subsequent two years. PHOTO | POOL

Bolt will make investments Sh13.4 billion (100 million euros) in its Kenyan subsidiary to broaden its companies past the 16 cities it operates.

The allocation by the Estonian-based digital ride-hailing agency represents 20 p.c of Sh66.8 billion (500 million euros) that it’ll put money into its operations in Africa over the subsequent two years.

The funding is about to accentuate the mounting competitors within the trade, which has seen operators broaden their geographical attain throughout the nation whereas including new transport companies underneath their platforms.

“Bolt shall double down on growing its footprint throughout Kenya by increasing its companies into extra cities and city centres. This may present entry to reasonably priced and high quality companies to prospects while offering incomes alternatives for drivers in Kenya,” stated Bolt Kenya nation supervisor Linda Ndung’u on Monday.

Bolt is the biggest ride-hailing service supplier by way of cities, with its companies accessible in 16 cities, together with Kakamega, Nakuru, Naivasha, Eldoret, Kitale, Nyeri, Meru, Embu, Nanyuki, Karatina, Kilifi and Malindi.

Uber, working in Nairobi, Thika, Mombasa and Nakuru, expanded to 5 different cities — Kisumu, Eldoret, Naivasha, Elementaita and Gilgil in June final yr.

Little has operations in Nairobi, Mombasa, Nakuru, Eldoret, and Nyeri.

Different gamers are Wasili, which dominates Nakuru, and new entrants reminiscent of Farasi Cabs and Yego International.

The businesses hail numerous transport companies, together with taxis, tuk-tuk and boda boda rides.

Bolt lately launched its company journey arm – Bolt Enterprise–  an area largely managed by Little, along with its present Bolt Meals supply service.

The agency operates ride-hailing and supply companies in six African international locations – Kenya, Ghana, Nigeria, Uganda, Tanzania and Tunisia – with over 47 million prospects and 900,000 drivers on the platform.

“The funds can be used to broaden Bolt companies in Africa and create alternatives for over 300,000 new drivers and couriers to hitch the platform in 2023,” Bolt stated in a press release.

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