Bolt Invests over R400 000 to support emerging mobility entrepreneurs in SA
Launched in December 2024 in partnership with business academy Pranary, the program attracted over 578 applications nationwide, with Gauteng submitting the highest number.
Image: Supplied.
E-hailing company Bolt said it concluded its first Accelerator Program in South Africa, awarding €20,000 (over R400 000) in funding to ten participants.
Bolt said that the initiative marked a significant step in the company's efforts to support entrepreneurial growth within its driver and courier community.
Launched in December 2024 in partnership with business academy Pranary, the program attracted over 578 applications nationwide, with Gauteng submitting the highest number.
Women made up 7% of the applicant pool.
"When we empower everyday entrepreneurs with the tools to build, we don't just ignite businesses, we transform communities and shape the future of Africa's mobility. True innovation thrives in an ecosystem where ideas are nurtured, collaboration is championed, and every voice has a seat at the table. At Bolt, we're building more than a platform, we are cultivating a movement," said Lerato Motsoeneng, Bolt's Senior General Manager for South Africa.
After a rigorous selection process, 120 drivers and couriers were chosen to join the Bolt Academy, where they received training in key areas such as market analysis, value proposition design, customer validation, and basic financial modelling.
Twenty participants advanced to the final phase, where they worked closely with industry experts and mentors to refine their ideas.
Their journey culminated in a live pitch event, with a panel evaluating their concepts on innovation, feasibility, and community impact.
Each of the ten selected finalists received €2000 (over R40,000) in seed funding and will participate in six weeks of additional mentorship to further develop their ventures.
At the awards event, three individuals received special recognition for their groundbreaking contributions to innovation and entrepreneurship.
The awards highlighted excellence across three key categories: Kamogelo Modise received the Most Innovative Idea award for Lupa Township Delivery A sustainable, cost-effective, zero-emission bicycle delivery network designed to bridge the delivery gap in township communities through a community-driven model.
Vutivi Shivambu was awarded the Most Scalable Idea for Liftsearch A ride-sharing platform that connects verified passengers with verified drivers, offering safe, affordable, and convenient long-distance travel to and from rural villages.
Shannon Adams won the Best Pitch award for EXPLORE.SA.APPA platform that links tourists with vetted drivers who also act as tour guides, enhancing travel experiences with local insights and safe transportation.
Sandras Phiri, CEO of Pranary, emphasised the importance of practical application.
'These participants didn't just sit through lectures, they built real businesses,' he said.
'Our mentorship approach brought in active founders and investors to guide them in creating ventures that are not only viable but needed. These entrepreneurs are addressing genuine challenges in the transport space.'
The Gauteng Department of Economics (GDED) is Bolt's strategic partner in creating a vibrant economy in Gauteng.
Mpho Nawa, the acting Head of Department at GDED, lauded the Accelerator Program as a game-changer and said it was an example of initiative that impact our communities.
'The initiative signifies our commitment to playing a leading role in supporting initiatives that empower communities and create rising stars. This partnership would help with job creation and unlock further economic growth and diversification in townships, leading to more investment from various sectors. This will help us develop a vibrant and competitive economy in the townships, especially in the digital sector. As a Government that cares we recognise the pivotal role that innovation plays in uniting our country. This partnership with Bolt marks a significant step in supporting township businesses," Nawa said.
The Accelerator Program reflects Bolt's broader aim to empower its driver and courier community with opportunities beyond the ride, helping them become active contributors to the country's evolving mobility landscape.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Citizen
2 days ago
- The Citizen
Semigration boosts Cape residential rental yields
Semigration to the Cape has been a major boost for the residential rentals market, especially in areas such as Durbanville which offers a great lifestyle, but more affordability, says Daniela de Villiers, Seeff's rentals manager for the Durbanville area. The higher demand has unlocked more opportunities for investors and landlords in the area, offering attractive rental yields of 6%-10% depending on the area and property, she says. Average rental rates in the Durbanville and surrounding area range between R9,000 to R25,000, and for luxury homes, upwards of R30,000 per month. Luxury estate homes go to as much as R51,000 and R60,000 per month for homes rented out by Seeff in the Kanonberg and Clara Anna Fontein estates. Tenants are coming mainly from Gauteng, particularly the Pretoria area. They are drawn to the area due to the central location, reputable schools, and relative affordability compared to other upmarket locations in Cape Town. Durbanville offers easy access to main arterials, and well-maintained, safe neighbourhoods. The country-like lifestyle and proximity to the Durbanville Wine Valley are also a bonus for people moving from upcountry. Both families and young professionals are flocking to the area. Students from nearby medical facilities, and those doing practical rotations at state hospitals in the area are also drawn to the rental market. Anneke Roux, another rental agent with Seeff who operates in the Welgedacht area, says the area is also popular with those who enjoy an active lifestyle as they can safely walk and cycle in the scenic surroundings. The highest demand in Welgedacht is in the R13,000-R20,000 range while yields range from 6-10%. Schools are a big attraction, according to Allison Oosthuizen, another Seeff rental agent. Young professionals are drawn to the good selection of apartments in the area, including those at the Waterfront. Apartments rent out at R9,000-R11,000 per month which is more affordably priced compared to the Cape Town CBD. Townhouses is a popular alternative as they are also well-priced at R14,000-R18,000. Even luxury homes at R41,000-R51,000 offer good value compared to other upper end areas. The opportunity for investors is mostly for properties in the R1.2m to R2.4m price range where they can achieve a rental income of R9,000 to R20,000 per month, providing a rental yield of 5-7%. Gratia van Jaarsveld, another Seeff rental agent, however, cautions that landlords must keep their prices in line with the market or they could risk not attracting a good calibre tenant within a reasonable period. Pet-friendly properties are always sought-after. When investing in a rental property, a good location is vital, but landlords must maintain properties in a good condition to optimise the rental and retain good tenants. The areas of Pinelands and Thornton, closer to the City, report similar trends. Johan Meyer, licensee from Seeff for the areas, says the high demand is due to proximity to UCT, Groote Schuur Hospital, good schools, and access to the airport. Tenants include students, medical staff as well as those working at the Old Mutual offices. Here too, rental properties are in short supply, and landlords can earn yields of 6-10%. There is high demand for neat, modern accommodation such as the new Pineworx development. Apartments are renting out at R9,500-R14,000 while houses range from R20,000. The highest prices achieved by Seeff over the last year include R25,000 for a rental in Victory Avenue, R35,000 in Uitvlugt, and R42,000 in Links Drive. Issued by Gina Meintjes
Daily Maverick
3 days ago
- Daily Maverick
The true price of owning a car
Most prospective buyers of a vehicle tend to focus on its purchase price when figuring out if it's affordable. But there are many other factors to consider because they will inflate your monthly costs. Having recently bought a new car, I've found it quite a big adjustment getting used to a vehicle loan instalment going off my bank account after not having to pay one for eight years. That said, buying a car is about so much more than its financing. I found WesBank's recent calculations about car ownership costs incredibly helpful. These calculations look at the estimated total monthly expenses associated with owning and maintaining one of the top-selling hatchbacks locally. The data also shows how the total cost of ownership has changed over time. 'Despite the recent improvement in passenger car sales, South Africa remains a price-sensitive market,' says Lebo Gaoaketse, head of marketing and communication at WesBank. 'This means when they decide to buy a car, new or used, most buyers base their decision primarily on the purchase price. But it's important to look beyond just that and consider the total cost of ownership, which is influenced by several other factors.' Cost breakdown For a mid-range hatchback with a retail price of about R294,000, including VAT, you can expect to pay an estimated monthly instalment of R5,554.80. Cars in this price range include the Volkswagen Polo Vivo 1.4 Comfortline, Kia Picanto 1.2 EX manual, Suzuki Swift 1.2 GLX, Toyota Starlet 1.5 XS and the Fiat 500 Cult. The instalment is influenced by the interest rate linked to the vehicle financing contract, which in turn is influenced by factors such as your credit score and the loan term. It's important to note that the interest rate will vary between customers, depending on their credit profile. Insurance options If you're financing your car through a bank, insurance is compulsory before you drive it off the showroom floor. But even if your vehicle is not financed, insurance protects you against losses that might result from an accident or theft. Insurance premiums vary depending on factors such as the make and model of the car, as well as the driver's history and location. For the model in question, a comprehensive insurance premium of R1,827.24 monthly can be expected. It's worth noting that even if you have comprehensive insurance, the amount you owe the bank includes interest and is usually significantly more than the value of the car, especially in the first four years of ownership. Credit shortfall insurance is a valuable add-on to your policy. I made a point of letting my family know that I had taken this option in case I end up dying in a car accident, because I wouldn't want them stressing about the debt. Nor would I want to be stuck paying off the debt if my car is written off. Fuel costs Fuel is one of the largest recurring expenses for car owners. Gaoaketse recommends that you estimate your monthly fuel costs, determine your car's fuel consumption rate and the distance you travel each month. The average monthly fuel costs for the vehicle in this scenario are R3,902.50. This is where your choice of car can make a massive difference. Although I didn't have a car instalment previously, I was forking out between R4,000 and R6,000 a month on fuel – the 'perk' of living two hours away from the city. Swapping my gas-guzzling SUV for a hybrid car has been an absolute game-changer, and the difference at the fuel pumps still astounds me two months later. Continuing maintenance Routine maintenance is important to ensure the safe and reliable operation of your vehicle. In the WesBank example, you could expect to pay in the region of R475.75 per month, or R5,709 annually, for running costs, including routine maintenance and general upkeep. Total monthly mobility costs When combining the monthly instalment, fuel, insurance and running costs, the total monthly cost for one of the bestselling hatchbacks in South Africa comes to R11,760.29 – marginally higher than the average total cost of ownership in 2024, which was R11,578.70 per month. Historical data Reviewing historical data, the increase in the total cost of vehicle ownership becomes apparent. For instance, because of vehicle price inflation, the estimated monthly instalment for the study model has jumped from R2,417.03 in 2012 to R5,554.80 in 2025. Insurance premiums have increased from R802.66 to R1,827.24 over the same period, and fuel costs have ballooned from R1,856.75 to about R3,902.50 per month. 'Viewing the cost of vehicle ownership from this perspective is important and underscores the need to objectively and honestly evaluate one's affordability level before signing a long-term vehicle finance contract to ensure a fulfilling vehicle ownership experience,' says Gaoaketse. DM PS the numbers in this story were hypothetical and not what Neesa Moodley is paying for her car.
Daily Maverick
3 days ago
- Daily Maverick
Young South Africans school the market — JSE Investment Challenge April winners announced
Every year, the Johannesburg Stock Exchange Investment Challenge puts South Africa's sharpest young minds to the test – and every year, a crop of winners rises to the top. The April 2025 results are in and the future of finance is looking bright and, in most cases, still in school uniform. With four risk-flavoured categories to choose from – income, equity, speculator and ETF/ETN (exchange traded notes/exchange traded funds) – each month brings new winners, while the race for the annual crown keeps everyone on their toes. It's the ultimate financial boot camp, minus the push-ups, but with plenty of number crunching. From rural roots to repeat victories Mpumelelo Secondary School, renowned for sweeping all five top positions in the schools' income category last year and repeated victories over the past several years, has once again proven its mettle in 2025. For the month of April, the Mpumelelo team, The Brave Ones, secured first place in the income category with an impressive portfolio growth of R10,139.73. Grade 11 learner, Mthombeni Nokubonga Naomi expressed her excitement: 'I felt ecstatic after winning, but I couldn't have done it without the support of my mentors.' The journey was far from easy. The team faced numerous challenges, including coordinating meeting times and locations. 'Sometimes it was difficult to decide where to gather,' Naomi said. However, the biggest obstacle was limited internet access and data shortages. 'We supported each other by sharing devices, and Mr Mtsweni, our teacher, helped by providing devices and assisting us with logging into the JSE platform,' she added. When selecting shares, the team adopted a careful strategy. 'We first checked the news – whether company-specific or external factors – and analysed charts of different companies to evaluate their growth potential,' explained Mfundo Mahlangu, a Grade nine learner from The Brave Ones. Equity experts in action Grey College's team, the profit predators, clinched the top spot in the equity category with a 3.92% gain. Their strategy – a laser focus on mining and banking sector companies, backed by diligent research and a few helpful hints from The Money Show with Stephen Grootes. 'Luckily, the market turned in our favour and we managed a good gain in profits,' the team said. Sometimes, fortune really does favour the bold and well-prepared. Speculating for success In the university speculator category, the UP Capital team from the University of Pretoria – Brett Thomson and Joshua McKay – secured victory with a portfolio growth of 12.65%. Thomson, already a veteran of the challenge, credited his win to careful risk management and a flexible strategy. The same team (plus one extra team member) won the overall ETF/ETN category in the JSE Investment Challenge 2024, walking away with R30,000. 'With all the risk in the market, it has been important to be both long and short to outperform the market. What I learnt is how to position the size of different sectors of the market according to current market risk,' Thomson explained. Catch up April's honour roll Schools The Jade Hustlers of Stellenberg High School in the Western Cape won the speculator category, with growth of 7.19%. The BGC – Skillies of Hoërskool Stellenbosch in Western Cape won the ETF/ETN category with 5.65% growth. The Brave Ones of Mpumelelo Secondary School in Mpumalanga won the income category, with a growth of R10,139,73. The Profit Predators of Grey College in the Free State won the equity category, with 3.92% growth. Universities UP Assegai of the University of Pretoria in Gauteng won the ETF/ETN category with 12.13% growth. UP Capital of the University of Pretoria in Gauteng won the speculator category with 12.65% growth. for schools and for universities. Keep in mind, applying late means you'll be eligible only for the September monthly results – not the annual finals – so it pays to sign up early and get a head start on the competition. The next champion could be you. DM
