Bolt, the global ride-hailing giant, has appointed Caroline Wanjihia as regional director of Africa and international markets. Seemingly, Bolt wants to optimize and streamline its regional operations, as it looks forward to pushing for sustained growth and investing in local talent. In an email, “In this pivotal role, Ms. Wanjihia will oversee and lead the company’s existing regional operations and new strategic initiatives, including expansion across the region.”
With over 15 years of experience, Wanjihia is known in strategy and business development circles. She has advised global leaders such as Coca-Cola, Diageo, Barclays, PwC, and Old Mutual in achieving their business goals. Wanjihia holds a Bachelor of Law degree from the University of Nairobi, Kenya, and is a certified public accountant (CPA). “I am truly honoured and excited to take on this role,” she said in a statement shared by Bolt.
Wanjihia’s appointment comes at a time when Bolt has been facing stringent regulatory scrutiny in countries such as Kenya. There are also cases of increased competition from rivals such as Uber, and driver shortage as driver partners looking for platforms that best meet their interests have also increased operational challenges. In Europe, for instance, Bolt’s market share is at 20%, while Uber leads at 60%.
In 2023, more than nine million people worldwide are projected to make money through e-taxi services, which is expected to reach 16 million by 2030. Asia, including the Middle East, represents 71% of these jobs, while Africa will show notable growth at 113% from 2023 to 2030.
In Europe, ride-hailing drivers typically earn well above the minimum wage, with Berlin seeing a 37% increase and Tallinn a 91% increase. In Africa, these drivers earn up to 130% more than jobs requiring similar skills (up to +130% in South Africa and Nigeria). While safety and employment benefits remain challenges, most drivers (70% to 80%) express satisfaction with their work due to its autonomy and flexibility, and half of them work part-time while pursuing other income opportunities.
