The fastest-growing ride-hailing platform in Africa, Bolt is set to expand its services as it geared to include Bolt food delivery service into its offerings for Nigerians.
According to the statement: “We are launching our new food delivery service and we are looking for a Restaurant Sales Manager who can help in establishing partnerships with local businesses.”
Recall that Brand News Day had earlier reported that International Finance Corporation (IFC) has offered a €20 million investment and advisory services for Bot, in an effort to boost and expand mobility solutions that create earning opportunities, stimulate small-scale entrepreneurship, and improve access to transportation in Eastern European and African markets.
Also, the IFC’s funding will be channelled towards Eastern Europe, including Ukraine, and African markets, such as Nigeria and South Africa.
Bolt To Wrestle GoKada And Jumia Food As It Launch Bolt Food Delivery
IFC, a member of the World Bank Group announced that it is investing €20 million in Bolt to help expand its access to mobility and delivery services in underserved urban areas in Africa and Eastern Europe—including in South Africa, Nigeria, and Ukraine.
Imperatively, Bolt currently offers food delivery services in more than 15 countries and 33 cities across the world. As a result of its already established network of registered drivers in Nigeria, penetrating Nigeria’s food delivery market with the newly added offer ‘might’ come seamlessly.
However, a potential threat to Bolt in Nigeria’s food delivery market would have been Bolt competitor, Uber’s food delivery service, although Uber eats is not yet available in Nigeria.
Since the pandemic, many businesses added food delivery to their model. In Nigeria, the food delivery market attracted a lot of attention during the lockdown with companies like Jumia introducing Jumia foods and Gokada switching to food delivery since the okada ban in Lagos, Nigeria. Jumia records that food orders grew 30% month-on-month.
Fascinatingly, in a report made available by the National Bureau of Statistics (NBS), Lagos residents spent ₦830 billion ($2 billion) eating out in 2019; representing 34% of total food expenditure.
This will hasten more investors to set in and join the train of prospects eying the food delivery service in Lagos and other states in Nigeria.