Bolt Technology, which competes with Uber Technologies in Africa and Europe, doubled its valuation to €4-billion after raising money to finance a grocery delivery service.
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Bolt, the company formerly known as Taxify, has launched a lower-cost ride-hailing service that it claims is the cheapest in South Africa.
Ride-hailing company Bolt Technology, formerly known as Taxify, is seeking credit support from the Estonian government after banks turned down requests for loans.
The Uber rival said on Wednesday that it has doubled its South African footprint in the past year, launching ride-hailing services in 34 secondary towns and cities in all nine provinces, and will now launch food delivery services.
Bolt, the ride-hailing service formerly known as Taxify, said it has begun operating a food-delivery business in its native Estonia, and will launch in other European and African countries next year.
South Africans have yet another electronic ride-hailing option available to them with the launch of a homegrown e-hailing app called Taxi Live Africa.
Uber Technologies’ path to profit is likely to be slowed by growing competition as a significant number of customers are willing to wait around for a cheaper ride, according to analysts at HSBC.
It would be prudent to focus primarily on job creation in South Africa before crushing potential growth areas with formal prescriptions. By Gwen Ngwenya.
In this episode of the podcast, Duncan McLeod is joined by Rifqa Carr of ride-hailing service inDriver, which is newly launched in South Africa.
Ride-hailing firm Bolt – formerly known as Taxify – has announced it will launch a food delivery service in South Africa, in the process taking on rivals Uber Eats and Mr D Food.