Bolt Food, an online platform for ordering and delivering food, has reportedly chosen to discontinue its operations in the Nigerian market.
Having initiated operations in Nigeria in 2021, the food delivery enterprise has announced its departure from the country, citing strategic considerations.
In its statement, the company said, “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.”
As per the report, the company is set to close its food delivery operations in the area by December 7, 2023.
This decision is in line with the company’s endeavors to optimize its resources and enhance overall efficiency.
Since its inception in 2021, Bolt Food has collaborated with over 10,000 restaurants in Nigeria and has successfully delivered more than one million meals.
It is reported to have enlisted 23,000 agents and 12,000 merchants.
The company entered the Nigerian market when the demand for food delivery services surged due to the pandemic.
When the company first launched in the country, it competed with business rivals such as Jumia Food and Gokada.
Later, the food delivery platform expanded its reach into other places in the country, including Ajah, Sangotedo, Festac, Satellite Town, Egbeda and Ogba.
Bolt currently offers food delivery services in 16 countries and 33 cities worldwide.