Browsing: Digital demand

www.theexchange.africa

Uber Rival Bolt raises $713mn in fresh funding

Africa

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 …

The plethora of the digital world: What works Africa 

Africa

At this very moment, as you are reading this someone in Africa is accessing the internet, drones are supplying medical kits in East Africa, food is being delivered by a digital request in Dar es Salaam and many more simple things digital technologies can aid community with move along the chains of life. 

This is a crucial milestone in Africa over the past decade. Just in East Africa digital financial services are ascending in the periphery areas and being adopted rather well.  

In Tanzania, postal services could go obsolete as the digital divide keeps closing in, with internet penetration ramping up 46 per cent in 2019 from 43 in 2018 and telecom subscriptions according to the Tanzania Communications Regulatory Authority piling up to nearly 50 million people. 

These few case studies do not only paint what is going on in Africa but showcase

…