Bolt’s revenues fall Sh1.2bn as rival Uber closes the gap

Bolt

Bolt has had to step up services in a bid to ward off competition from rivals.

Photo credit: Pool

Ride-hailing firm, Bolt recorded a Sh1.27 billion dip in revenues in the Kenyan market in the year ended June 2024 compared to a similar period earlier amid fare increments and a raft of issues that its operators faced.

Bolt increased minimum fares with a range of Sh200 and Sh250 across all its categories in October 2023.

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Note: The results are not exact but very close to the actual.