Ride-hailing company Bolt intends to outpace its rivals in Kenya’s corporate transport sector, touting fares that it says are 23% lower than competitors.
- •The ride-hailing firm is positioning itself as the most cost-effective option for businesses looking to cut transport expenses without compromising reliability.
- •The move is a direct challenge to Little Cab, a firm which has long dominated corporate ride-hailing in Kenya.
- •While price sensitivity has grown among businesses, service consistency remains a key factor in corporate transport decisions.
“Businesses are always looking for ways to optimize costs, and transport is a significant expense. Bolt corporate rides are 23% more affordable compared to other corporate ride-hailing players. With our strong driver network, we ensure efficient pickups and timely arrivals,” said Daniel Njomo, Bolt Business General Manager.
However, Bolt will need more than pricing to sway corporate clients. Little Cab has built its reputation on reliability and longstanding partnerships, while Bolt has at times faced criticism over constant frictions between drivers and customers.
Bolt’s revenue in Kenya fell by 25% to KSh 2.45 billion for the fiscal year ending June 2024, as fare hikes and regulatory hurdles eroded its customer base. The Estonian ride-hailing firm also struggled with license renewal delays, safety concerns, and tough competition from Uber.
Despite the decline, Bolt is eyeing the diversification of its ride-options, corporate ones included. It is also betting on a KSh 13.4 billion investment to expand its services and bolster driver earnings, signaling strong confidence in the Kenyan market.
