Bolt, the leading mobility company, recently hosted its first financial wellness workshop in Johannesburg with Liberty, a leading financial services company. The workshop aimed to enhance the financial well-being of Bolt drivers by equipping them with the knowledge and tools needed to manage their finances effectively and plan for a secure future. This initiative marks the first of many, with plans to roll out similar workshops in other cities nationwide offered at no cost to drivers.
Financial instability is a widespread issue in South Africa. Many people need help with high debt levels, making it difficult to repay loans or build savings. According to the South African Reserve Bank’s Quarterly Bulletin for the first quarter of 2024, South Africans spend 9% of their disposable income on debt repayments, with household debt accounting for 62% of overall income.
For Bolt drivers, financial stability is crucial to their long-term success. These workshops aim to help them manage debt, improve their financial health, and increase their chances of vehicle ownership. By providing drivers with access to key financial services, this initiative helps them achieve greater economic independence.
Bolt drivers-partners will benefit from various financial services, including debt counselling, consolidation, credit monitoring and tailored solutions for addressing specific financial challenges. Liberty will also provide access to life insurance, disability cover, medical cover, and investment options, all supported by FICA/FAIS-registered financial advisors. These advisors will guide drivers on important topics such as savings, debt management, and retirement planning.
“The workshops with Liberty are a significant step toward ensuring Bolt drivers have the tools and ability to manage their finances responsibly,” said Simo Kalajdzic, Senior Operations Manager at Bolt. “By empowering drivers with financial literacy and support, we aim to improve their current financial situation and create long-term benefits that extend to their families and communities.”
Bolt remains dedicated to enhancing its drivers’ overall experience. Beyond improving the platform, the company supports drivers’ personal and financial growth. Last month, Bolt opened its second driver engagement centre in Cape Town, strengthening its relationship with driver-partners. The centre provides enhanced support, issue resolution, and assistance to new and existing drivers, helping them get on the road and grow their earnings.
