People are also realising that ride-hailing will not replace private cars on its own.
A survey conducted in 2022 showed that 55.2% of the population believed Bolt was the most affordable ride-hailing service in Ghana despite 2022 being a challenging year with currency depreciation and inflation.
With inflation in Ghana and the increased costs of goods and services, it is an assumption that the demand for ride-hailing services will reduce
For a business to be successful, it is vital that the service provided is quality and tailored to customers
A study conducted in 2022 shows that Ghanaian users have at least two applications of ride-hailing service providers on their mobile devices
These stats allow us to infer that Ghanaians, on average, receive quality service from Bolt drivers
As a result, we think it will be inevitable for consolidation in the market to take place – a trend we should be surprised about if we look at examples from ride-hailing and grocery delivery.