International Finance Corporation (IFC) has invested 20 million euros in Bolt, a mobility service company, to promote access to on-demand mobility services in emerging economies including Nigeria.
The IFC funding is targeted towards Eastern Europe, including Ukraine, and African markets, such as Nigeria and South Africa.
The funding will help Bolt, a ride-hailing company, expand mobility solutions that create earning opportunities, stimulate small-scale entrepreneurship, and improve access to transportation in Eastern European and African markets.
Senior Vice President of Operations at IFC, Stephanie von Friedeburg said: “Technology can and should unlock new pathways for sustainable development and women’s empowerment. Our investment in Bolt aims to help tap into technology to disrupt the transport sector in a way that is good for the environment, creates more flexible work opportunities for women, and provides safer and more affordable transportation access in emerging markets”.