Bolt stakes €20,000 seed fund to expand Accelerator Program in South Africa

Bolt, the global shared mobility platform, has extended its economic empowerment initiative Bolt Accelerator Program, to South Africa.

Following success in Nigeria, Ghana and Kenya, the program now seeks 10 start-up businesses for seed funding across South Africa.

A €20,000 seed fund is now available to support business plans developed by Bolt drivers or their immediate family members.

Program beneficiaries will be invited to pitch business ideas addressing real-life tech mobility challenges in South Africa, focused on sustainability, creating more people-centric cities, or inclusive mobility.

The program will be run in close partnership with Pranary, the practical business school, whose network of mentors will support eligible participants in developing their business plans.

Related News

Selected participants will be equipped with invaluable mentorship and workshops. Top ten business ideas will receive the seed funding of €2,000 (close to R40,000) each along with additional mentoring.

Simo Kalajdzic, Bolt’s Senior Operations Manager for South Africa, emphasized the company’s commitment to empowering drivers: “We see ride-hailing as more than just a source of income; it’s a launchpad for entrepreneurial dreams. We’re excited to support the drivers’ innovative projects, helping them build sustainable businesses, contribute to their communities, and potentially even become partners in Bolt’s ongoing success story. Building on the positive momentum from our launches in Nigeria, Kenya, and Ghana, we’re thrilled to extend this opportunity to South African drivers and their family members.”

Sandras Phiri, Founder and CEO of Pranary, said “We’re excited to partner with Bolt on this transformative initiative. At Pranary, we believe in practical, hands-on learning that produces real results. Through our AI-enhanced platform and network of experienced mentors, we’ll provide participating drivers with the tools, skills and guidance needed to turn their innovative ideas into viable businesses. This program perfectly aligns with our mission to empower entrepreneurs through actionable learning and immediate implementation.”

The Bolt Accelerator Program has so far funded 30 Bolt driver partners from Nigeria, Kenya and Ghana to create businesses that range from maintenance mobile apps, charging stations for EVs and fleet management. A further 360 drivers have participated in the Bolt Academy skills development program.

IFC invests $1.2 billion in IHS to boost connectivity in emerging markets

By Boluwatife Omotayo • December 4, 2024

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.