Bolt recently hosted its first financial wellness workshop in Johannesburg in collaboration with Liberty.
The workshop provided Bolt drivers with practical financial management knowledge and tools to help them plan for long-term financial stability.
According to the ride-hailing company, this is the first in a series of workshops planned for other cities across the country, all of which will be offered to drivers free of charge.
“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,” Bolt said in a statement.
These workshops aim to provide drivers with access to essential financial services and help them manage debt, improve their financial health, and increase their chances of vehicle ownership
Liberty offers debt counseling, consolidation and credit monitoring, along with life insurance, disability cover, medical cover, and investment options. Its FICA/FAIS-registered financial advisors will guide drivers on 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.”
Last month, Bolt opened its second driver engagement centre in Cape Town to strengthen relationships with driver-partners. The centre offers support, resolves issues, and assists both new and existing drivers to get on the road and grow their earnings.
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