Bolt is intensifying its efforts to capture a larger share of Kenya’s corporate transport sector by positioning itself as a more cost-effective alternative to existing ride-hailing providers.
The company claims its corporate rides are, on average, 23% cheaper than those offered by competitors currently dominating the business travel segment.
This move directly challenges market leader Little Cab, which has traditionally been the preferred choice for corporate ride-hailing. By offering lower fares and faster Estimated Time of Arrival (ETA), Bolt aims to attract large corporations and SMEs seeking to reduce transport costs without compromising reliability.
“Businesses consistently prioritize cost optimization, and transportation represents a significant expense. Bolt’s corporate rides are 23% more affordable than other corporate ride-hailing options. Our extensive driver network ensures efficient pickups and timely arrivals,” stated Daniel Njomo, Bolt Business General Manager.
While Kenya’s corporate ride-hailing market has historically been dominated by a few key players, Bolt’s persistent presence signals a potential market shift, potentially driving down costs and providing businesses with more choices.
The company’s competitive pricing and robust driver network offer an attractive alternative for firms seeking affordable and efficient mobility solutions.
By challenging the established market dynamics, Bolt is increasing competition, encouraging businesses to reconsider their ride-hailing partnerships in favour of more cost-effective and reliable transport options.
Key Trends and Data in Kenya’s Corporate Ride-Hailing Market
According to Statista, Kenya’s ride-hailing market is projected to reach $55.8 million in revenue by 2025, with an annual growth rate of 10.39%. By 2029, this is expected to increase to $82.87 million.
Ride-hailing penetration in Kenya is 46%, among the highest in Africa, but usage is concentrated in urban areas with higher incomes. Only 25% of Nairobi residents have ever used ride-hailing services, and just 11% use them regularly, reflecting economic constraints.
Job Creation and Economic Impact
Platforms like Uber contributed KSh 17.3 billion to Kenya’s economy in 2023, with drivers earning an additional KSh 2.2 billion annually.
The sector supports thousands of drivers across platforms like Uber, Bolt, and Little Cab, providing flexible income opportunities.
Corporate Focus
Companies are increasingly targeting corporate clients due to their consistent demand for reliable transport. Corporate partnerships are becoming a significant driver of growth as businesses seek cost-effective transportation solutions for employees.
However, affordability remains a significant barrier for many potential users due to low incomes. In addition, regulatory challenges and competition from informal transport systems like matatus also limit market expansion.