Bolt's strategy on business and safety in Africa's ride-hailing sector

The ride-hailing sector in Africa has become a crucial employer for small and medium enterprises (SMEs) and a significant contributor to the continent's economy. Despite the transformative impact of taxi-hailing apps on transportation, safety concerns for both drivers and riders continue to pose a major challenge. Lola Masha, Bolt's Regional Manager for North, East & West Africa, joined CNBC Africa to shed light on how the company is addressing these safety concerns while also providing insights into their business performance. When it comes to safety, Masha emphasized that Bolt sees it as a top priority, viewing their objective not just as transporting customers from one point to another but ensuring that the journey is safe and secure. To reinforce this commitment, the company recently invested over €100 million in safety measures across product development, engineering, marketing, and customer support. They have introduced various safety features such as ride-sharing options, audio recording during trips, and background ride checks to enhance the security of both passengers and drivers. In terms of business performance, Bolt operates in 50 countries globally, with a strong presence in six African markets, including Kenya, Tanzania, South Africa, Nigeria, Ghana, and Tunisia. With over 50 million customers in Africa and more than 1 million drivers, the company plays a significant role in providing income opportunities and supporting families across the continent. Globally, Bolt works with approximately 4.5 million drivers and couriers and serves over 150 million customers, highlighting the company's impressive scale and growth trajectory. Looking ahead, Masha stressed the importance of innovation, technology, and collaboration with regulatory authorities to sustain Bolt's growth. The company acknowledges that they cannot operate in isolation and actively engage with partners, regulators, and law enforcement agencies in every market to ensure compliance with local regulations. By advocating for fair play, transparent regulation, and stringent enforcement of driver requirements, Bolt aims to create a safe and regulated environment for all stakeholders. Masha also highlighted Bolt's commitment to accountability and trust in the ride-hailing business. With a dedicated safety team and emergency response features in place, the company swiftly addresses any issues that arise during trips and takes appropriate action against drivers involved in misconduct. By maintaining transparency and implementing measures to uphold trust with both riders and drivers, Bolt continues to prioritize safety and responsibility in its operations. As the interview concluded, Lola Masha affirmed Bolt's unwavering dedication to safety, growth, and regulatory compliance in the African ride-hailing sector, emphasizing the company's ongoing efforts to innovate, collaborate, and maintain trust with all stakeholders in the evolving mobility landscape.