NAIROBI, Kenya- Bolt, the ride-hailing service, has just announced a 10pc hike in base fares across all ride categories in Kenya.
This change is effective immediately and is part of Bolt’s broader strategy to help drivers maintain sustainable earnings in the face of rising operational costs.
The fare increase was not a decision made in isolation. Bolt attributes this move to extensive discussions with drivers and regulators, aiming to cushion drivers against the pressures of Kenya’s current economic climate.
With fuel prices skyrocketing—currently around Ksh 188.8 per liter, up from Ksh 106 in 2020—drivers have been finding it increasingly difficult to earn a fair wage.
This adjustment is designed to address that gap, ensuring that drivers can continue to provide reliable and safe transportation services.
Bolt’s decision mirrors Uber’s recent fare increase in Kenya, where the base fare for the Economy category now stands at Ksh 220, up from Ksh 200. For riders, this means slightly higher fares, but for drivers, it’s a lifeline.
As Bolt’s General Manager, Linda Ndung’u, puts it, “This fare adjustment is not just about increasing prices; it’s about recognizing the value our drivers bring to the platform every day.”
Bolt isn’t alone in making these changes. Little App, another major player in Kenya’s ride-hailing market, recently increased drivers’ earnings by 15pc. This move, much like Bolt’s, is aimed at helping drivers cope with the high cost of living, particularly the soaring fuel prices.
These adjustments are not just about immediate relief but are part of a broader effort to ensure the long-term sustainability of the ride-hailing industry in Kenya.
For both drivers and riders, these changes come at a time of significant economic pressure. As costs continue to rise, the industry must adapt to ensure that drivers can earn a fair wage without compromising the affordability and reliability that riders have come to expect.
As Kenya continues to navigate economic challenges, Bolt has committed to ongoing discussions with stakeholders, including drivers and regulators, to monitor the situation and make further adjustments if necessary.
This proactive approach ensures that the company remains responsive to the needs of both its drivers and riders, balancing the scales in a challenging economic environment.
This fare increase may be the first of many adjustments as the industry grapples with external pressures.
