Bolt, Africa’s largest ride-sharing company, has announced a 4% fare increase in response to rising fuel costs.
The 4% increase, which equates to Ksh.0.47, is expected to protect platform driver earnings from a 3.9% increase in fuel costs.
The additional Ksh.0.47 fee will be charged per kilometer on each trip completed, according to Bolt. Rides were previously charged KES 26.90 per kilometer, so the new price will be KES 27.27 per kilometer.
Bolt has also increased the Lite category’s minimum fare from Ksh.150 to Ksh.180, as well as the start fee from Ksh.55 to Ksh.70.
Bolt Eastern Africa regional manager Kenneth Micah said in a statement on Monday that the new prices will reflect current market realities and that the rates will cushion against rising fuel costs.
“Drivers are at the core of our operations, and we truly believe that happy drivers provide better quality service for customers. As such, we’ve been doing extensive reviews to ensure that we continue to provide the best earnings for drivers on our platform and remain the most affordable and preferred platform by customers,” he said.
“We have therefore reviewed our pricing to reflect the current market realities. We are confident that this increase in fares will cushion against the 3.9% rise in fuel cost, and therefore contribute to sustained strong earnings on the platform.”
The changes will be implemented in Nairobi across all Bolt ride categories as the company reviews fares in other cities in accordance with EPRA guidelines on fuel prices per city.
To help drivers cope with the high cost of fuel, Bolt has a long-term partnership with Rubis Energy Kenya, which provides a Ksh.4 discount per litre of fuel to Bolt drivers.
Bolt drivers are given a prepaid Rubis card, which entitles them to a Ksh.4 discount per litre of fuel and world-class convenience at any Rubis Gas Station across the country, according to the agreement.