Ride-hailing company, Bolt has announced that from today, in Tanzania, it shall only be available to corporate clients.
The firm cites the regulatory environment that is causing “undue pressure on the sustainability of its operations in the country.”
In March this year, the Land Transport Regulatory Authority (Latra), which sets and approves fares for ride-hailing operators in Tanzania, issued guidelines that doubled the per-kilometre rate to TSh900 ($0.39) and cut commissions the firms charge to 15% from a maximum of 33%.
This saw ride-hailing company Uber exiting the market in April, after six years of operations, citing a stringent regulatory environment.
Meanwhile, Bolt last month opened its Africa Head Office in Nairobi to leverage the city’s strategic position to serve as a regional hub for its operations in Africa.
The office which is located in Riverside Drive will act as the regional nerve centre of the company whose operations in Africa cuts through seven countries including; Kenya, Uganda, Tanzania, Nigeria, Ghana, South Africa and Tunisia.