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The taxi-hailing business has gained momentum in Kenya over the last decade.
Gone are the days when taxis were a preserve of the affluent in society. Nowadays, Kenyans, mostly in urban areas, can access taxis online at an affordable cost.
The taxi business has become competitive as apps scramble for the market in major cities and towns.
On Sunday, October 31, the National Transport and Safety Authority (NTSA) listed four digital hailing cabs that are licensed to operate in Kenya.
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The government agency said the four apps had complied with its Transport Network Companies (TNC), Drivers, and Passengers Rules 2022.
The four are Yego Mobility Ltd, Little Ltd, Uber BV, and Bolt.
Yego Mobility Ltd is a subsidiary of Yego Global.
According to its LinkedIn profile, the company was founded in 2016 and is headquartered in Kigali, Rwanda.
The taxi-hailing firm entered the Kenyan market on Monday, November 1, at a time when Uber and Bolt drivers were on a go slow over high commissions.
Yego Global chief executive officer Karanvir Singh said they charge a 12% commission for every ride.
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Uber Technologies was founded in March 2009 by Garett Camp and Travis Kalanick.
It has its headquarters in San Francisco, United States, and operates in over 70 countries and over 10,000 cities.
The app, which provides taxi and food delivery services, employs over 29,000 people worldwide.
In 2021, it earned $17.46 billion (KSh 2.12 trillion) in revenue.
On Tuesday, November 1, Uber's shares jumped after it reported a surge in quarterly revenue and described consumer demand as remaining robust.
The ride-hailing service scored a 72% increase in third-quarter revenues to $8.3 billion (KSh 1 trillion), thanks partly to the benefit of an acquisition in Uber's freight business.
However, the company reported a $1.2 billion (KSh 145.8 billion) loss, citing a hit to Uber's equity investments and the effect of stock-based compensation expense.
Little Cab is a fully owned taxi-hailing technology of Craft Silicon Ltd, a Kenyan company based in Westlands, Nairobi.
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The mobile phone app is an automated transport solution offered to consumers and corporate clients.
It started operating in Nairobi in 2016 and is accessed by customers who own a smartphone.
When it was launched, it charged KSh 55 per kilometre.
According to its website, Bolt boasts over 100 million customers in more than 45 countries across the globe.
The company was founded in 2013 by Markus Villig, then a 19-year-old high-school student.
Villig developed the app after borrowing €5,000 (KSh 600,000) from his parents.
Kenyan taxi drivers will breathe a sigh of relief after Uber reduced the commission charges.
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This followed the digital taxi drivers' strike held a week ago, demanding the review due to increased fuel prices.
The company said it reduced the charges to 18%, down from 25%, effective Sunday, October 30, 2022.
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Source: TUKO.co.ke
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