ShareThe leading ride-hailing and instant delivery company recently announced that its Bolt Food service will cease operations in South Africa on December 8, 2023, and Nigeria on December 7, 2023. In the fiscal year 2022, Bolt Technology witnessed a remarkable 152% jump in turnover, reaching €1.26 billion. Bolt’s decision to discontinue its food delivery service in South Africa and Nigeria represents a strategic move towards concentrating on its more lucrative segments. Bolt Food, launched in Lagos in October 2021, was introduced to tap into the flourishing food delivery market, competing with other services like Jumia Food and Gokada. The termination of the service in South Africa will affect both customers and couriers, with Bolt focusing on facilitating a smooth transition for everyone involved.

Source: The North Africa Journal November 13, 2023 11:39 UTC