In a bead to “streamline its resources and maximise its overall efficiency” online food ordering and delivery platform, Bolt Food, has announced that it will stop its Nigeria operations from December this year.
Bolt Food was launched by Bolt in 2019 and in Nigeria in October 2021.
It is a platform which uses cars, scooters, bikes, or on foot to deliver meals and groceries and operational in over 80 cities across 19 countries as of 2023.
Since its launch in the country, Bolt Food claims it has partnered with over 10,000 restaurants, delivered over one million meals, and on-boarded 23,000 agents and 12,000 merchants.
But the firm in a recent statement said that “At this time, we have made the difficult decision to discontinue our food delivery operations in Nigeria due to business reasons,”
“The decision to exit this market is necessary to streamline our resources and maximise our overall efficiency as a company. This means that our users will not be able to place Bolt Food orders through our food app after the 7th of December, 2023.”
Sources close to the company indicate that the cost of business, especially the impact of hike in fuel price, among other negative economic impacts had been the major reason for this decision.
“They cannot cope with the rising cost of delivery and does not want to be seen as burdening their customers with high delivery costs over essential needs as foods. They will prefer to focus on their core business, which is car hailing.”
Bolt Food’s rivals include Glovo, Chowdeck, Buyfood, and Jumia Food. Glovo recently announced that it would be collaborating with Chicken Republic to deliver food to Nigerians, making Chicken Republic terminate its affiliations with Jumia Food and Bolt Food.
It will be recalled that Bolt business had also been negatively impacted when commercial bikes riding had been banned in Lagos and some other states.
Bolt Food Service To End Operation In Nigeria In December
In a bead to “streamline its resources and maximise its overall efficiency” online food ordering and delivery platform, Bolt Food, has announced that it will stop its Nigeria operations from December this year.
Bolt Food was launched by Bolt in 2019 and in Nigeria in October 2021.
It is a platform which uses cars, scooters, bikes, or on foot to deliver meals and groceries and operational in over 80 cities across 19 countries as of 2023.
Since its launch in the country, Bolt Food claims it has partnered with over 10,000 restaurants, delivered over one million meals, and on-boarded 23,000 agents and 12,000 merchants.
But the firm in a recent statement said that “At this time, we have made the difficult decision to discontinue our food delivery operations in Nigeria due to business reasons,”
“The decision to exit this market is necessary to streamline our resources and maximise our overall efficiency as a company. This means that our users will not be able to place Bolt Food orders through our food app after the 7th of December, 2023.”
Sources close to the company indicate that the cost of business, especially the impact of hike in fuel price, among other negative economic impacts had been the major reason for this decision.
“They cannot cope with the rising cost of delivery and does not want to be seen as burdening their customers with high delivery costs over essential needs as foods. They will prefer to focus on their core business, which is car hailing.”
Bolt Food’s rivals include Glovo, Chowdeck, Buyfood, and Jumia Food. Glovo recently announced that it would be collaborating with Chicken Republic to deliver food to Nigerians, making Chicken Republic terminate its affiliations with Jumia Food and Bolt Food.
It will be recalled that Bolt business had also been negatively impacted when commercial bikes riding had been banned in Lagos and some other states.
