Bolt Announces Split From Maltese Partner As It Goes Independent
The food courier, taxi and e-scooter company Bolt announced on Monday morning they have parted ways with local company TXF Tech.
The partnership came to an end in March, after which Bolt started to operate in Malta independently. Bolt’s aim is to strengthen its position as a market leader in Malta and “make the market more competitive and introduce its global procedures and processes on the island” it said in a statement today.
According to the company, this means that the drivers and couriers working for it will have greater control over their own time and work more efficiently, making it possible to anticipate their earnings in the long run.
The company plans to increase the number of restaurants on its platform while continuing investment to keep charges low for customers. It also plans to hire more drivers to improve arrival times and overall customer experience, as well as introduce a drunk-driving prevention feature to allow for safer scooter rides.
“This natural transition in Malta shows our commitment towards being the leading mobility platform in the region whilst continuing to make urban travel and delivery affordable, safe and sustainable”, said GJ Kistemaker, Global Head of Franchise and Partner Markets at Bolt.
The company has received a lot of media attention in the past few months after two of its food courier drivers, 38-year old Yani Kuzmanov and 28-year old Ajay Shrestha, tragically died just weeks apart in separate traffic accidents whilst on the job.
The split from TXF Tech comes nine months after the Debono Group, who at the time were a 20% shareholder in TXF Tech, sued the company for failing to repay €1.6 million in debt owed to the Debono Group.
Bolt has also faced criticism in the past over employees’ working conditions, with many reported having lost between 30 and 50% of their salary as a result of the manner in which they were engaged to work.
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