Bolt, the renowned global ride-hailing service, has launched its operations in Cairo, marking its second venture into North Africa. Competing with industry giants like Uber, and Careem, Bolt aims to capture the market with its innovative pricing strategy.
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Distinguishing itself from competitors, Bolt will forgo its standard 15% commission for drivers, a significant contrast to Uber and Careem’s 22-33% charges. Additionally, riders will enjoy a generous 50% discount on trips for the next six months. Bolt absorbs the discount costs, ensuring drivers receive the full amount earned during each trip.
Bolt’s commitment to Africa was reinforced in February 2023, with a pledge to invest over $500 million on the continent by 2024. This investment aims to expand Bolt’s services across Africa, creating job opportunities while addressing challenges faced by some drivers regarding income reduction tactics in select markets.
Bolt’s expansion into Egypt makes that its 15th African market, after focusing on Southern Africa. In Cairo, where Uber dominates with higher prices, competitors like Careem, inDriver, and DiDi target budget-conscious consumers with discounts.
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