Bolt introduces a 50% discount for riders to effectively compete with inDrive and Uber. In its latest venture into Egypt, Bolt unveils an enticing proposition for riders: a generous 6-month 50% discount, funded entirely by Bolt itself. Moreover, drivers are poised to reap rewards as well, with Bolt opting to waive the standard 15% commission typically charged.
Bolt Introduces 50% Discount for Riders
Bolt’s expansion into Egypt represents the latest step in its ongoing regional growth strategy, following recent expansions into Zimbabwe and Botswana. This strategic move is part of the company’s substantial commitment of €500 million ($542.8 million) earmarked for investment in Africa. Through this investment, Bolt aims to not only expand its footprint but also create employment opportunities for over 300,000 new drivers across the continent.
In Cairo, Bolt is shaking up the e-hailing landscape by offering a bold incentive to drivers: a waiver of the standard 15% commission typically charged. This means that drivers operating through the Bolt app in Cairo will enjoy a commission-free experience, receiving the full amount earned for each trip. This move is in line with Bolt’s commitment to empowering its driver partners and ensuring their financial well-being.
What the Country Manager of Bolt Egypt has to Say About This Development
Haitham Mansour, Country Manager of Bolt Egypt, emphasized that competitive pricing is a cornerstone of the company’s strategy to stimulate demand in the market. By maintaining significantly lower commissions compared to competitors, Bolt aims to maximize earnings for drivers while offering customers attractive service fees.
Bolt’s entry into Egypt marks a significant milestone as the company’s 15th African market. Since its inception in South Africa in 2016, Bolt has steadily expanded its operations across the continent, establishing a presence in countries such as Ghana, Nigeria, Kenya, Cameroon, Zambia, Tanzania, and Uganda.
What Bolt’s Expansion into Egypt Signifies
With its expansion into Egypt, Bolt enters a competitive landscape populated by established ride-hailing service providers such as Uber, InDriver, Careem, and DiDi. However, Bolt remains undeterred and is poised to carve out its share of the market by leveraging its competitive pricing and driver-friendly policies.
The Company’s Recent Expansions into Zimbabwe and Botswana
The company’s recent expansions into Zimbabwe and Botswana further underscore its commitment to growth and innovation. In Harare, Zimbabwe, Bolt announced a six-month waiver of driver commissions, aiming to boost driver earnings and maintain high demand. Similarly, in Gaborone, Botswana’s capital, Bolt waived its standard commission fees and recruited 100 drivers to kickstart its ride-sharing services in the city. These initiatives demonstrate Bolt’s proactive approach to expanding its presence and solidifying its position as a leading e-hailing platform in Africa.
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