Bolt Accelerator Programme: 10 South African drivers to benefit from €20,000 funding

Leading African e-hailing operator, Bolt has extended its entrepreneurship empowerment innovation – Bolt Accelerator Program to South Africa. The initiative, which has been previously held in African countries such as Nigeria, Kenya, and Ghana, is set to fund 10 start-up entrepreneurs in the country.

According to the global shared mobility platform, a sum of €20,000 seed fund will be made available for Bolt drivers or their immediate family members. As part of its plan for economic transformation, funding will be required to support the business ideas of qualified individuals.

Moreover, the program will be structured in partnership with Pranary – a practical business school, that will mentor beneficiaries on how to structure their business plans. Alongside the €2,000 seed funding for each selected individual (Top 10), they will also be equipped with rounds of workshops and placement mentorship.

The ride-hailing operator emphasized that beneficiaries will be invited to pitch business ideas. It added that the plans must address real-life tech mobility challenges in South Africa which centres on inclusive mobility, sustainability, and creating more people-centric cities.

Simo Kalajdzic, Bolt’s Senior Operations Manager for South Africa, stressed the goal of the company in empowering Bolt drivers’ innovations for economic enlargement.

“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,” he added.

The partner organization, Pranary also expressed its commitment to guiding participants in structuring practical tools and strategies for the businesses.

“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,” Sandras Phiri, Founder and CEO of Pranary, said.

The Bolt Accelerator Program has so far funded 30 Bolt driver partners across Nigeria, Kenya, and Ghana. Also, about 360 drivers have participated in the Bolt Academy skills development program. So far, the e-hailing company has been helping individuals create businesses that range from maintenance mobile apps to charging stations for EVs and fleet management. 

Bolt’s accelerator program in Nigeria

The Nigeria program which was launched in September 2023 saw Bolt’s Innovative Accelerator program partnered with the Nest Innovation Park (‘the Nest’). The program offered a €25,000 seed fund to selected Nigerian drivers to support their business plans surrounding Bolt’s Africa City Vision – sustainable transport.

The Regional Director of Rides for Africa, Caroline Wanjihia said ride-hailing has always been about offering drivers the flexibility to earn while pursuing other career opportunities and life goals. She therefore stressed that the program will help accelerate aspirations for the drivers.

Alongside the accelerator program, the company also launched the Bolt Academy in November 2023 where drivers whose applications were successful were trained. The Academy was a tailored online training program for Nigerian drivers to promote business development skills and support future career development.

The top 20 outstanding drivers were selected to participate in the transformative two-week boot camp phase. This phase stands as a pivotal platform, nurturing innovative ideas and equipping drivers with essential knowledge across various domains such as business development, financial management, digital marketing, and more.

The drivers were selected from five cities—Abuja, Lagos, Rivers, Kaduna, and Kwara—after undergoing a rigorous selection process starting from the ideation phase. The drivers also pitched their pioneering ideas to a panel of distinguished judges from the technology, banking, and education sectors.

Read More: 20 drivers emerge finalists at Bolt Den €25,000 accelerator program.