Bolt is partnering with IFC, a member of the World Bank Group, to promote access to on-demand mobility services in emerging economies.
IFC’s €20 million investment and advisory services will help Bolt expand mobility solutions that create earning opportunities, stimulate small-scale entrepreneurship, and improve access to transportation in Eastern European and African markets.
Bolt launched South Africa – its first African market – in 2016. The company currently operates in seven African countries, providing earning opportunities for more than 400,000 drivers in 70 cities across the continent. IFC’s funding will be targeted towards Eastern Europe, including Ukraine, and African markets, such as Nigeria and South Africa.
Bolt is currently piloting a ‘Women Only’ ride-hailing category in South Africa – a new service aiming to address safety needs and improve women’s mobility by connecting female drivers with female passengers.
IFC will support Bolt’s ongoing work to empower women riders and drivers by improving their access to safe and affordable transportation and creating new economic opportunities.
Markus Villig, CEO and Founder, Bolt said: “We are looking forward to partnering with IFC to further support entrepreneurship, empower women and increase access to affordable mobility services in Africa and Eastern Europe.
“Together with the investment from the European Investment Bank last year, we are proud to have sizeable and strategically important institutions backing us and recognising the strategic value Bolt is providing to emerging economies”.
Stephanie von Friedeburg, IFC Senior Vice President of Operations, said:“Technology can and should unlock new pathways for sustainable development and women’s empowerment.
“Our investment in Bolt aims to help tap into technology to disrupt the transport sector in a way that is good for the environment, creates more flexible work opportunities for women, and provides safer and more affordable transportation access in emerging markets”.
- Fentuo Tahiru Fentuo joins Joy Sports
- Deborah Acquah wins Ghana’s first ever medal in Commonwealth Games women’s long jump with bronze
- You have given me some of my best memories – Adwoa Safo celebrates husband
- Ghanaians must apologize to Moesha Buduong – Efe Keyz
- Commonwealth Hall disassociates itself from violence on UG campus
- Full report: Special Prosecutor retrieves ¢1m from Council of State member’s company in corruption case
- Body of Chinese man who drowned in dam at Kwahu retrieved
- Special Prosecutor recovers over ¢1m from Council of State member’s company in import duties shortfall
- Ibrahim Mahama’s aircraft fly Tamale’s children closer to their dreams
- GJA condemns attack on Kofi Adoma; demands immediate investigations
Ellembelle DCE absolved of involvement in illegal mining
Reduce reliance on international capital market for loans – Deloitte to government
NDC wants to destabilise my government – Akufo-Addo on reshuffling Ministers
Tamale City gain historic promotion to the Ghana Premier League
Ghana to host largest international petroleum conference
Akufo-Addo cuts sod for Yendi Road Dualisation Project
People should apologise to Moesha Boduong for chastising her over body enhancement – Efe Keyz
Breaking the 8: Research and Election Officers in Bono, Bono East, and Ahafo Regions receive training
Kwesi Arthur inspires my music – Upcoming musician, Siicie
It’s not easy to come out with five albums – MzVee
Nigerian singer Kizz Daniel arrested in Tanzania
‘Economy will bounce back strongly’ – Akufo-Addo assures
Nana Ama McBrown opens up on liposuction
Embrace use of disposable handkerchiefs – Flora Tissues Marketing Director urges public
Cedi still worst performing currency in Africa; depreciates 28.8% to dollar – Bloomberg