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Moving from one point to another has never been easier and more convenient as transportation or mobility applications have come to play. In Tanzania, where internet penetration stands at around 25 percent, digital mobility services simplify transportation, thanks to Bolt and bber ride-hailing services.
However, this was not always the case, as in early 2022, Uber decided to leave Tanzania. Bolt also limited its operations due to regulatory concerns and the increase in transportation taxes imposed by authorities.
With population expansions in cities such as Dar es Salaam, Arusha, Mwanza, Kilimanjaro, and Dodoma, digital mobility services are again getting attention and usage over time and space.
Tanzania is witnessing the stark rise of locally developed solutions such as Paisha, Twende, and Linkee, which are challenging the status quo established by Uber and Bolt, which are progressively resuming their services.
Uber has closed down Tanzania operations even as President Samia Suluhu is in the United States on a trip that, according to Joe Biden administration officials, is focused on business and investments.
The Tanzanian president is meeting US Vice President Kamala Harris on Friday in Washington.
During the talks with VP Harris at the White House, Suluhu is expected to focus on commercial and economic partnerships and health issues among other matters.
Liquefied natural gas in Tanzania is expected to attract investments of US$40 billion at a time when the world is seeking to reduce dependence on Russian energy.…
- Bolt receives its largest-ever funding round, amounting to €628 million (US$716 million) to fast-track the mission to have cities move in more affordable and sustainable ways
- The company said part of the funds will speed up the expansion of its new and existing mobility and delivery products across Eastern African markets
- The investments will also boost ride-hailing services in Kenya, with emphasis on enhancing the safety features on the platform for drivers and passengers
Bolt receives funding for expansion
On-demand transport firm Bolt receives its largest-ever funding round for expansion, amounting to €628 million (US$716 million) to fast-track the mission to have cities move in more affordable and sustainable ways.
In a statement, the company said part of the funds will speed up the expansion of its new and existing mobility and delivery products across Eastern African markets.
The investments will also boost ride-hailing services in Kenya, with emphasis on …
Ride-hailing firm Bolt has raised $713 million in fresh funding.
In a statement, the European firm says it will use the funds to accelerate the expansion of its existing mobility and delivery products across its markets.
“The funds will go into expanding the company’s network of ride-hailing services, food delivery and micro mobility in Africa and Europe,” the company said.
According to the firm, these include investments towards enhancing safety features on the platform for drivers and riders, deepening vehicle ownership initiatives, driver and courier empowerment and sustainability projects.
Bolt will also use the funds to boost its new under 15-minute grocery delivery service, Bolt Market recently launched in Europe.
The new investment round now values Bolt at about $4.75 billion, which is more than double its last private valuation of $2 billion.
The funds were backed by new investors who include Sequoia, Tekne and Ghisallo, as well as Bolt’s …
Bolt, the leading ride-hailing platform in Europe and Africa, has expanded its operations to three major urban centers in Kenya, setting the stage for a continued push to expand its market footprint within the country.
This comes as competition heats up for taxi hailing apps in Kenya, where both local and international companies are pushing to secure a substantial market.
Bolt’s launch in Kisumu, Kakamega and Thika will see the number of Kenyan towns and cities served by the platform rise from the current two, to five, making it the largest ride-hailing service provider in terms of geographical reach.
READ ALSO:Bolt targets corporates with new business strategy
According to Bolt Country Manager (Kenya) Ola Akinnusi, Bolt’s mission is to make urban transportation more convenient and affordable for more people, thus broadening the company’s reach, providing a platform for job creation through its social contribution.
“After Nairobi and Mombasa cities, …
Bolt, the leading European on-demand transportation platform has launched ‘Bolt for Business’, a plan that allows companies to manage and pay for all corporate trips from one central location.
On the new Bolt for Business portal, account managers can set up company-wide rules and control when and who can use business trips, making it simple to budget for and get a clear overview of the company’s transportation expenses.
The platform also enables the corporate to set and customise the spending allowances and the number of trips employees can take. It is also possible to require employees to report the purpose of the trip before the ride. The new system can be used on both desktop and mobile.
Olaoluwa Akinussi, Country Manager, Bolt Kenya said: “A growing number of Bolt trips are taken for business purposes, whether it’s commuting to work, rushing to client meetings or getting to the airport. Most …