Bolt, the Estonian ride-hailing company, says it will stay in Nigeria and continue investing after rival Uber’s suprising exit.
In a statement shared with TechCabal on Wednesday night, Bolt described Nigeria as an important market for its growth. Uber’s departure leaves Bolt as the other major international ride-hailing platform serving Nigeria, putting the company in a position to potentially capture drivers and riders who previously relied on its rival.
The statement came hours after Uber told its riders and drivers on Wednesday afternoon that it would wind down operations in Nigeria following a review of its business priorities and investment focus. Uber also exited Uganda, part of a global restructuring of its operations with plans to cut over 3,000 jobs globally.
“Nigeria remains an important market for Bolt, and we remain firmly committed to the country,” said Teddy Appa-Dankyi, senior general manager, Bolt West Africa. “We have built a strong community of riders and driver partners over the years, and our focus is on continuing to serve them while strengthening our operations and creating more opportunities across the market.”
Originally published by TechCabal.