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Bolt Reels out Post-pandemic Growth to Mark Ninth Anniversary

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Bolt, Nigeria’s mobility service, has announced it has quadrupled its business globally since the start of the pandemic, recording its most successful month on record this July.

Bolt, which launched two new products since the start of the pandemic, has operations in 45 countries and over 500 cities across Europe and Africa now – an increase of over 200% in the period prior to the pandemic.

Globally, Bolt has tripled its number of customers to over 100 million since the beginning of 2020, added more than 2 million new drivers to the platform, and more than doubled the size of its workforce to over 3000 employees.

The business has also opened several new offices over the past year, including engineering hubs in Berlin and Nairobi, and continues to advertise over 350 open roles with a view to hiring 700 more employees by the end of the year.

The announcement of these new stats comes as Bolt marks its ninth anniversary since Markus Villig founded the company in Tallinn, Estonia, in 2013. Then just a teenager, Markus personally recruited the first drivers to the platform on the streets of Tallinn and has since built a business valued at €7.6bn at the time of its latest funding round.

Markus Villig, CEO and Founder said: “The pandemic was the biggest economic shock in generations, so hitting milestones like 100 million customers and operations in over 500 cities are achievements we’re really proud of.

“When Bolt was first founded, our mission was to challenge the traditional taxi industry in Tallinn through a new ride-hailing service. Now our size and the range of products we offer put us in a unique position to revolutionise how people move around the cities. By providing an alternative to private cars, we can help create cities that are greener, safer and more pleasant to live in.

“It’s important to stay grounded though – rising levels of inflation and interest rates mean we have to be disciplined when assessing how and in what markets we invest.

“This could mean prioritising growth efforts in our existing markets instead of expanding our services into new countries. Our culture of frugality helped us come out of the pandemic in a strong position, but the challenges are not going to stop, and the team is focused on preparing for and responding to them.”

Since Bolt’s launch in Lagos in 2016, it has expanded its operation into 25 states and 33 cities since the pandemic to provide seamless mobility offerings to Nigerians. In 2021, Bolt extended its Bolt Food service to Nigeria increasing its product offering in the country.

The introduction of Bolt Food in Nigeria came after the platform accessed post-pandemic realities and decided to help provide easier access to daily essentials such as food.

Oludele Dare, Country Manager, Nigeria said: “We are happy to see the post-pandemic growths that the business has experienced. When we first launched in Nigeria, our mission was to transform the ride-hailing and mobility sector.

“Scaling during the pandemic was a challenge but our focus on providing seamless mobility services to Nigerians ensured that we maintained growth. Our business in Nigeria is built on efficiency and easing mobility for riders while offering drivers a flexible opportunity to earn more income.”

 


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General News

PalmPay Supports Nigeria Police Force National Cybercrime Centre 2025 Cybersecurity Awareness Walk

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Chika Reginald Nwosu, Managing Director, PalmPay at the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) during its Cybersecurity Awareness Walk held in Abuja, recently.
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PalmPay, a Nigerian leading digital banking platform, supported the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) during its Cybersecurity Awareness Walk held in Abuja as part of activities marking the 2025 Cybersecurity Awareness Month.

Themed “Secure Our World,” the event brought together key stakeholders from law enforcement, regulatory bodies, and the private sector to promote public awareness on cybersecurity, financial fraud prevention, and safe online practices.

PalmPay joined other participants in advocating for stronger public vigilance and safer digital engagement, reaffirming its commitment to supporting national efforts that enhance cybersecurity and consumer protection.

Speaking during the event, PalmPay’s Managing Director, Mr Chika Reginald Nwosu, commended the Nigeria Police Force National Cybercrime Centre (NPF-NCCC) for its efforts in combating cybercrime and protecting consumers. He emphasised the need for continued collaboration across sectors to build a safe and secure payment ecosystem for all Nigerians.

“We commend the NPF-NCCC for its proactive leadership in driving cybersecurity awareness,” said Nwosu. “At PalmPay, we are committed to supporting initiatives that promote digital safety and foster trust in Nigeria’s growing digital economy.”

At the event, PalmPay was commended for its outstanding efforts in strengthening regulatory engagement and advancing consumer protection initiatives across the fintech industry.

The partnership underscores PalmPay’s ongoing commitment to promoting cybersecurity awareness, consumer protection, and fraud prevention as part of its mission to create a safer digital financial ecosystem in Nigeria.

PalmPay is a leading digital banking platform driving financial inclusion and economic empowerment in underserved emerging markets. Through its secure, user-friendly, and inclusive suite of financial services, PalmPay empowers individuals and businesses with tools to manage and grow their money.

PalmPay offers a comprehensive range of products, including mobile payments, savings, and micro-insurance via its app and mobile money agent network.


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Fidelity Bank Salutes Air Peace for Flying Nigeria’s Flag to Heathrow

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Fidelity Bank Plc has congratulated Air Peace on the successful launch of its maiden direct flight from Lagos to London Heathrow, describing the milestone as a significant achievement for Nigeria’s aviation sector and a testament to the power of indigenous partnerships.

Fidelity Bank Salutes Air Peace for Flying Nigeria’s Flag to Heathrow

 

The commendation was delivered by Dr. Nneka Onyeali-Ikpe, managing director of Fidelity Bank, during a special event held in Lagos to celebrate the airline’s expansion into the European market.

“This is not just a win for Air Peace, but a win for Nigeria,” Onyeali-Ikpe said. “It reflects the strength of home-grown businesses and the impact of strategic financial support in enabling national champions to thrive on the global stage.”

Nigeria CommunicationsWeek reports that Fidelity Bank has played a pivotal role in Air Peace’s growth, providing early financial backing and advisory services that helped the airline become the largest carrier in West Africa. The bank continues to support Air Peace through payment processing and other financial services

The launch of the London route marks a new chapter for Air Peace, which now joins a select group of African airlines operating direct flights to Heathrow.

The development is expected to boost tourism, trade, and connectivity between Nigeria and the United Kingdom.

Speaking at the event, Allen Onyema, Chairman of Air Peace, expressed gratitude to Fidelity Bank for its unwavering support and reaffirmed the airline’s commitment to excellence and service.

“This partnership has been instrumental in our journey,” Onyema said. “We are proud to fly the Nigerian flag across international skies.”

Industry stakeholders present at the event praised the collaboration between the two companies as a model for sustainable business growth and national development.


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After MultiChoice Buyout, Canal+ Eyes Full Ownership of Showmax

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Canal+, French media giant, is reportedly eyeing the full takeover of Showmax, the African streaming platform jointly owned with MultiChoice Group.

After MultiChoice Buyout, Canal+ Eyes Full Ownership of Showmax

This followed its recent push to expand across the continent’s digital entertainment market.

The move comes after Canal+ completed its acquisition of MultiChoice to strengthening its hold on Africa’s pay-TV and streaming ecosystem.

With Showmax being a key growth asset under the partnership, industry analysts say a full takeover could give Canal+ end-to-end control of content production, distribution, and subscription revenue in multiple markets.

The acquisition would also align with Canal+’s broader strategy to rival global streaming giants such as Netflix and Amazon Prime Video by leveraging African content demand and localized storytelling.

According to RipplesNigeria, Ayo Balogun, Media and Telecoms Analyst, CardinalStone Partners, while reacting to the move, said: “Canal+’s full acquisition of Showmax would mark a decisive step in consolidating Africa’s digital media value chain.

“With MultiChoice now under its control, Canal+ can fully integrate content, distribution, and streaming into a single monetizable ecosystem—something we’ve not seen before on this scale in Africa.”

Thandiwe Mokoena, Senior Media Strategist, Johannesburg, added: “This move gives Canal+ strategic dominance in both the pay-TV and OTT spaces. It positions them not only as a regional player but also as a continental gatekeeper for premium African content. The competitive pressure on Netflix and Amazon Prime Video in Africa will rise sharply if this takeover goes through.”

Financial markets are closely watching how the potential consolidation could reshape Africa’s media landscape, particularly in terms of valuation, competition law, and licensing rights.


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