Bolt drivers to get €25,000 seed fund for business

Nigerian commercial drivers plying their trade on the ride-hailing operator, Bolt’s platform, will now get a €25,000 seed fund to float their businesses, Bolt said Thursday.

The ride-hailing firm is giving out the fund in a programme it launched to empower Nigerian drivers on an entrepreneurial journey, in partnership with the Nest Innovation Park (‘the Nest’). 

Named Bolt Den, the entrepreneurial programme will accept applications for all interested Bolt drivers in Nigeria, the company said in a statement. 

The €25,000 seed fund will be used to support business plans developed by Nigerian drivers that link to the firm’s Africa City Vision, based around sustainable transport, it added.

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This will be run in close partnership with The Nest, whose network of mentors will support eligible drivers in developing their business plans before a pitch day is held in November, Caroline Wanjihia, Bolt’s Regional Director of Rides for Africa, said in the statement on Wednesday.

“Through this programme, we’re not just fostering individual growth with vital business skills, but also positively impacting Nigeria’s economic landscape. It underlines our belief in the transformative power of education on lives and communities,” she added.

Bolt also said it would simultaneously in November launch the Bolt Academy, a tailored online training program for Nigerian drivers to promote business development skills and support future career development.

“Ride-hailing has always offered drivers the flexibility to earn whilst pursuing wider career opportunities,” said Wanjihia.

Oluwajoba Oloba, co-founder at The Nest said: “This initiative not only promises to enhance the quality of life for individuals within the Bolt ecosystem but also to make a valuable contribution to the innovation landscape of our ecosystem and the overall GDP of our country.”