Ride-hailing platform plans to inject Sh15.85 billion (€100 million) investment in Kenya to expand its presence across the country despite an ongoing stalemate over license renewal.
The taxi hailing firm confirmed to the Star that it has started engagements with the drivers and the regulator after it emerged that it’s operations might grind to a halt by the end of the month due to a licensing stalemate.
The National Transport Safety Authority has indicated it will now renew Bolt's operations in Kenya for various issues among them driver commissions and passenger safety.
However, in what the company says is a commitment to the Kenyan market the expansion will involve entering into more Kenyan cities and towns.
The company had earlier in the year announced that it would be pumping €500 million for its operations into Africa over the next two years.
“In response to the ongoing conversations on our license renewal, Bolt would like to reaffirm our commitment to the Kenyan market,",” Bolt said in a reply
It said for the over seven years it has been in the Kenyan market, it has actively sought input from both government as well as driver partners, to ensure that they remain within the guidelines provided by the government.
The Estonian-based company announced that it currently has a valid licence and is fully operational.
“As part of the ongoing annual licence renewal process, we will continue to work closely with the regulator for a fruitful result,” the firm added.
Bolt says adherence to Kenyan regulations remains a top priority as it is foundational to building a long-term sustainable business that positively contributes to all stakeholders in the ecosystem.
It added that its remains open to collaborative dialogue with regulator, driver partners and the wider public to continually ensure full compliance with regulation and expand income generation within its platform.
Last year, in fulfilment of the licensing requirements, taxi hailing firms were issued with a Transport Network Company licence.