Bolt is set to roll out an asset finance program, which will see over 1000 bolt drivers financed to acquire two-wheelers and vehicles with 1000cc capacity and below. The company intends to commence before the second quarter of this year
The program will see drivers benefit from both electric and diesel-powered vehicles in a move that the company says has been necessitated by the realisation that drivers’ income has been reduced, especially for those who have to remit their earnings to a third party.
“It’s a very exciting development for us as bolt because we’ve realised when we look at our driver partners a big portion of them actually do not own their vehicles and because they do not own their vehicles their cost becomes much higher because they have to remit a proportion of what they are earning to somebody else which means there is less in their pocket.” Stated the country manager, Linda Ndung’u.
Bolt has also committed to providing in-trip insurance for their drivers, aiming to support both drivers and riders who sustain injuries during an ongoing trip.
This insurance coverage is designed to lower the company’s potential compensation costs resulting from accidents, without any financial burden on the drivers.
“We have a significant population base that we can support with this product, and we are able to obtain fairer prices for our driver partners, ensuring better value for their money. The expenses will be covered by Bolt as part of our commitment to the safety and well-being of our drivers,” Ndung’u emphasized.
However, amidst these developments, the issue of driver earnings remains a contentious topic. A heated exchange ensued between drivers and Bolt officials over compensation, with drivers also calling for customer verification to address misuse of the hailing application and ensure driver safety.
