DRC – Ride-hailing company, Bolt, has extended its operations into Kinshasa, the capital of the Democratic Republic of Congo (DRC), as part of the company’s efforts to increase the availability of private transportation options in the city. 

Following this launch, Bolt is focusing on recruiting over 200 drivers and has begun accepting trip requests to and from the city’s international airport.

As a strategy to encourage new drivers, the company is offering temporary relief from commissions for six months in all cities where it has recently launched. This is part of a strategic move that has been employed previously during new launches.

Bolt’s latest expansion effort in the Democratic Republic of Congo comes on the heels of its recent entry into the Egyptian market, cementing its commitment to growing its presence across Africa. Already, Bolt is operational in more than 45 countries.

In the first quarter of 2024 alone, the company rolled out its services in Botswana, Egypt, Zimbabwe, and Namibia, enlisting an impressive number of more than 200 drivers upon its launch in Namibia in February 2024.

The commission relief offered by Bolt, which could be as much as 15% of drivers’ earnings, stands to increase drivers’ earning potential and stimulate demand for the company’s services through competitive pricing.

Bolt, the ride-hailing company, recently introduced a new feature called ‘Driver Destinations’ in South Africa. This innovative feature allows driver-partners to select multiple orders along their routes, providing them with additional income opportunities.

Bolt’s expansion into more African markets is in alignment with the company’s pledge to invest US$542.8 million in Africa, in order to not only solidify their presence but also create over 300,000 jobs for new drivers.

After initiating operations in the Democratic Republic of Congo (DRC), Bolt declared its intention to transform the nation’s transportation sector.

In a statement, the company said that they are looking forward to revolutionizing the transportation scene in the DRC, and offering improved mobility solutions that will drive prosperity for both drivers and customers in Kinshasa, the country’s capital.

The move to expand Bolt’s services across Africa comes at a time when significant revenue growth is anticipated for the continent’s ride-hailing sector. Projections suggest a revenue growth from US$1.99 billion in 2024 to US$2.98 billion by 2028. 

Additionally, the number of users of ride-hailing services in Africa is expected to rise to 202.70 million by 2028, an increase in penetration from 13.5% in 2024 to 14.3% by 2028.

In other news, Bolt recently disclosed in a report a remarkable increase in the number of businesses subscribing to their corporate transportation service, Bolt Business. 

The ride-hailing company stated that there has been a 70% year-on-year increase in the number of new companies that opened Bolt Business accounts in 2023. 

Bolt Business is a service designed to provide transportation options for businesses and handle their ride-related needs across the entire company.

inDrive raises US$150m to expand its services

Ride-share app inDrive announced that it has raised US$150 million to expand its services and enter new markets. This new funding is from the same venture capital firm General Catalyst who provided US$150 million in financing last year.

The company added that the financing extension can be further extended for an additional year and this will enhance inDrive’s financial flexibility, enabling the company to bolster growth, invest in product improvements, expand its service offerings, and enter new markets.

This announcement follows a remarkable year for inDrive, marked by a 54% increase in net revenue in 2023. 

The results from the previous year underscore the company’s strong growth path and its effective use of adaptable financing to expand operations in a sustainable manner. U.S.-based inDrive currently operates in nearly 48 countries, largely in emerging markets.

Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals and insights from Africa’s business, economy, and more. SUBSCRIBE HERE