Bolt, a leading ride-hailing company, has reaffirmed its commitment to the Kenyan market and its compliance with the regulations despite facing a possible suspension of its operations by the end of the month.
The company said it had initiated talks with the drivers and the regulator, the National Transport Safety Authority (NTSA), after it emerged that its license renewal was in jeopardy due to various issues, such as driver commissions and passenger safety.
Bolt also announced that it plans to invest €100 million (Sh15.85 billion) in Kenya over the next five years to expand its nationwide footprint and create more drivers and riders opportunities.
“In response to the ongoing conversations on our license renewal, Bolt would like to reaffirm our commitment to the Kenyan market,” the company said in a statement.
“As part of the ongoing annual license renewal process, we will continue to work closely with the regulator for a fruitful outcome,” it added.
Bolt, formerly known as Taxify, has been operating in Kenya since 2016 and has grown to become one of the most popular ride-hailing platforms in the country, competing with Uber and Little.
The company said it has always sought guidance from both the government and driver partners to ensure that it remains within the government’s rules and regulations. It also said it has a valid license and is fully operational.
“Compliance with Kenyan laws and regulations is still of utmost importance as it is the cornerstone of creating a long-term sustainable company that benefits all ecosystem stakeholders,” Bolt said.
The company said it was ready to collaborate with the regulator, driver-partners, and the general public to ensure strict adherence to regulations and increase revenue generation on its platform.
Last year, NTSA issued Transport Network Company licenses to taxi-hailing companies after they met the licensing conditions. However, some drivers have complained about low commissions and poor working conditions.
Bolt is not the only ride-hailing company facing challenges in Kenya. Uber recently announced that it would increase its fares by 20% after drivers protested against low earnings.
Bolt said it would continue offering affordable and reliable transportation services to Kenyans while ensuring its drivers’ and passengers’ safety and welfare.
The company also said it would invest in new products and services, such as Bolt Food, Bolt Business Delivery, and Bolt Protect, to meet customers’ changing needs.
Bolt’s investment plan is part of its broader strategy to expand its African presence. Earlier this year, the company said it would invest $530 million in African operations over the next two years.
Bolt operates in over 40 cities across 16 African countries, including Nigeria, South Africa, Ghana, Uganda, Tanzania, and Ethiopia.
The company said it aims to empower millions Africans with economic opportunities and access to urban mobility solutions.
Source: Business Insider Africa
