𝗕𝗼𝗹𝘁 𝗥𝗮𝗶𝘀𝗲𝘀 $𝟮𝟰𝗺 𝗙𝘂𝗻𝗱𝗶𝗻𝗴 𝘁𝗼 𝗦𝗰𝗮𝗹𝗲 𝗪𝗼𝗺𝗲𝗻-𝗼𝗻𝗹𝘆 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗮𝗻𝗱 𝗘𝗻𝘀𝘂𝗿𝗲 𝗦𝗮𝗳𝗲𝘁𝘆 𝗳𝗼𝗿 𝗙𝗲𝗺𝗮𝗹𝗲 𝗥𝗶𝗱𝗲𝗿𝘀

Ride-hailing company, Bolt has raised $24 million funding from the World Bank’s International Finance Corporation (IFC) to include more women in its services and expand its offerings across Africa and Eastern Europe, particularly in Nigeria and Ukraine.

Bolt CEO, Markus Villig explains that e-hailing is keen to target demographic groups such as women that are under-represented or under-served. Bolt plans to launch this ride-type in more countries and cities throughout the year. We are looking forward to partnering with IFC to further support entrepreneurship, empower women and increase access to affordable mobility services in Africa and Eastern Europe.

Bolt says its Women Only ride service is one of the programs that the IFC funding will support. The company has already launched its Women Only ride type in South Africa and following its latest funding, one could expect this service to roll out in its Nigerian market soon.

This allows women to request rides only from women drivers. The service is already available in 12 South African cities including Johannesburg, Cape Town, Durban and Port Elizabeth. Rides take place between 6 am and 7 pm daily to guarantee safety for women drivers and riders

Therefore, the introduction of women drivers on the platform would go a long way to making female riders more comfortable and at ease during trips. At the same time, the service will provide income-earning opportunities for women driver-partners.

Currently present in 14 states across Nigeria, Bolt might be covering more states in the coming months. Bolt may consider growing its market outside of Lagos, as tougher regulations may be on the way following the state’s recent launch of its Lagos Ride scheme.