August 13, 2020 All Things Fintech in Africa

Bolt Launches a Tricycle-hailing service in Uyo

Bolt, formerly known as a Taxify,  has launched a tricycle-hailing service in Nigeria’s south-southern city of Uyo.   Bolt started its ride-hailing business in 2016, but has managed to take the spot alongside with Uber in the Nigeria. The Estonia-based ride-hailing service had launched its new product right after its appointment of a new country manager for Nigeria, Femi Akin-Laguda .  A few weeks after it introduced a new feature that allows its users to add extra stops to their rides.

In a statement regarding the launch of Bolt’s new launch released by the country manager, Femi Akin-Laguda says;

“We have already built the biggest ride-sharing platform in Nigeria for cars and the knowledge we have gained in that endeavour gives us a significant advantage in taking on the unique transportation challenges in all the cities where we operate. Tricycles in Uyo is the first step in this direction as we intend to bring a renewed effort to solving local problems with globally tested solutions.”

Popularly known as keke, tricycle-hailing services are becoming increasingly popular in the country as they are proven to safer when compared to motorcycles. Motorcycles have been banned in Uyo since September, 2019 , `which makes tricycle business  very lucrative  in Uyo.

Bolt’s tricycle debut in the country will open it up to another class of commuters and give it more market share in that area. However, the two major tricycle hailing companies (Bolt and Opay)  are more likely to be in a direct  completion.

Of the twelve cities where OTrike has a presence, Uyo is one of them. Although OTrike has first-mover advantage and a larger market share, it is going to be a fierce competition between the two tricycle startups.

Read more:

Opay Expands to  Tricycle hailing service 

Banner
Related Posts

The Central Bank Of Egypt to Launch an Electronic KYC

February 5, 2020

February 5, 2020

The Central Bank of Egypt is set to launch a new electronic know-your-customer (KYC) , which would  to aid financial...

Decode Fintech: PayStack Launch a Weekly Newsletter For Leaders in African Fintech

May 9, 2019

May 9, 2019

Decode Fintech is a newletter for leaders in African Fintech launched by Paystack, one of the leading payment platform in...

Airtel Africa Goes into a Partnership with MasterCard

October 28, 2019

October 28, 2019

  A few weeks ago, Airtel announced its partnership with MasterCard. Giving over 100 million Airtel Africa mobile phone users...

Cracking the e-commerce business in Nigeria; The How By Ladi Ogunseye

August 7, 2020

August 7, 2020

Cracking the e-commerce business in Nigeria; The How A lot of times, we blame Nigerian e-commerce operators or merchants for asking...

About The Next Titan Nigeria, Nigeria’s Foremost Entrepreneurial Reality TV Show

November 21, 2019

November 21, 2019

About The Next Titan Nigeria, Nigeria’s Foremost Entrepreneurial Reality TV Show   For so many years, the media space in...

ORide; Nigeria’s Bike hailing Service launched by OPay

June 6, 2019

June 6, 2019 1

ORide, a bike-hailing app launched under the hub of OPay intends to make going around Lagos easier. On the average...

How to start a Startup in Nigeria

April 11, 2019

April 11, 2019 4

How to Start a startup in Nigeria Have you ever thought about building a Startup in Nigeria?  Then you probably...

Master Card Extends its Engage Programmme to Target Africa’s FinTech Community

May 2, 2019

May 2, 2019

Master Card has extended its engage programme to Sub-saharan Africa, with events lined up to be held in Nigeria and...

Five Zambian Fintech startups have been selected for the first FinTech4U cohort

January 30, 2020

January 30, 2020

  Out of the 35 Fintech startup that submitted applications to the Fintech 4U cohort, only five Zambian fintech startups...

Quick Bus Secures Seed Funding to foster their international expansion Q

February 3, 2020

February 3, 2020

Kenyan startup QuickBus,  a platform that allows its users to  book, review  and pay for bus tickets, has secured a ...

Top Leadership Skills Every Entrepreneur Need To Posses

May 29, 2019

May 29, 2019 2

Successful Leaders-you might have heard about them, read about them, and undoubtedly want to be like them. So what set...

Carbon launches $100,000 pan-African fund for startups

February 19, 2020

February 19, 2020

Nigerian fintech startup, Carbon, has announced that it just launched a $100,000 pan-African fund for startups. The company revealed that...

Chat bots Driving Financial Inclusion

April 20, 2019

April 20, 2019

  Chat bots are now taking over the banking space. Unlike the  traditional methods used by financial institutions which are...

European Investment Banks injects 50 million into Bolt

January 30, 2020

January 30, 2020

  The European Investment Bank (EIB) has given   a sum of 50 million Euros to Bolt, a ride hailing service...

5 Facts About Keystone Bank Nigeria You Never Knew Before

May 1, 2019

May 1, 2019 1

5 Facts About Keystone Bank Nigeria You Never Knew Before On Friday 5 August 2011, something interesting happened – the...

Comments
Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.