The online food ordering platform Bolt Food, an arm of ride-hailing company Bolt, has announced closing its operations in Nigeria and South Africa.

According to TechCabal reports, Bolt Food, which introduced food delivery services in the West African country in October 2021, will cease operations on December 7, and December 8 in South Africa.

The company has attributed its exit from the two countries to strategic reasons as it seeks to streamline its resources and maximize efficiency.

Despite operational losses, it comes in the backdrop of an increase in turnover in recent months.

 Estonian public broadcaster ERR stated that Bolt reported losses of Kes 89 billion for 2021, though its turnover rose by 126 percent.

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Bolt Food operates in 16 countries and 33 cities across the world. It competed with the likes of Glovo, Uber Eats, and Jumia Food in South Africa, all of which are in Nigeria.