In response to the ongoing conversations about its license renewal, Bolt has issued a statement reaffirming its commitment to the Kenyan market. The ride-hailing giant has been in the spotlight recently following the National Transport and Safety Authority’s (NTSA) decision not to renew its operating license.
Bolt’s Statement
In a statement released on October 11, 2023, Bolt emphasized that adherence to Kenyan regulations remains a top priority for the company. The company stated that it is open to collaborative dialogue with its regulator, driver-partners, and the wider public to ensure full compliance with regulation and expand income generation within its platform.
Bolt also highlighted that it currently holds a valid license and is fully operational. As part of the ongoing annual license renewal process, the company will continue to work closely with the regulator for a fruitful result.
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Compliance with Regulations
Last year, Bolt was issued with a Transport Network Company license, effective from October 28, 2022. The company has been fully compliant with the stipulated regulation to cap its commission rate at 18% for drivers using its application. To ensure efficiency on its platform and the continued innovation and enhancement of its technological features, Bolt charges a fixed percentage booking fee that is paid by the passenger.
Future Plans
Bolt has announced plans for significant milestones in 2024, including a planned investment of 100 million euros in the Kenyan market. This investment aims to increase Bolt’s footprint across the country by expanding its services into more cities and town centers.
The company also recently launched its Driver Engagement Center in an effort to enhance its driver relations and address issues faced by drivers in their daily operations. The center is located at Delta Chambers in the Westlands area and is accessed on an appointment basis.
