The size of Africa’s shared mobility market, which includes services such as ride-hailing, scooter or e-bike rentals, as well as car-sharing, will almost double by 2030, creating an additional 550 000 income-earning opportunities.
That is according to a new report from global management consultancy Oliver Wyman, supported by data made available from global mobility operator Bolt.
The report, entitled ‘Shared Mobility’s Global Impact’, highlights the current and potential global economic, social and environmental impacts of the evolving shared mobility sector.
That impact is set to be particularly strong in Africa, where growth will be driven by rapid urbanisation and a rising middle class.
Africa is set to be home to five of the world’s 41 megacities (cities with populations in excess of ten-million people) by 2030.
The new study highlights the mobility sector’s growing impact on African city economies.
Currently worth $4.2-billion, the sector is set to be valued at $7.8-billion by 2030.
This growth should help drive important income opportunities.
The majority of these opportunities are within ride-hailing driving, where drivers earn above the wages seen in comparable jobs in Africa – up to 130%-plus more in South Africa and Nigeria, states the report.
The study, however, acknowledges that there is still work to be done when it comes to a lack of employment benefits for drivers in many markets.
The study also highlights the mobility sector’s role in supplying affordable and accessible transport, particularly in African countries where car ownership remains inaccessible to many.
Additionally, it underlines the need for shared mobility to complement continued improvement in transport infrastructure in African cities.
Some of the improvements it recommends include data sharing between operators and authorities; investment in road infrastructure to enable the launch of bike sharing; and the opportunity for shared mobility operators to support vehicle purchasing schemes and the electrification of fleets.
“Shared mobility is already set to rise from 3% to 7% of journeys by 2030,” says Oliver Wyman Automotive and Mobility, Climate and Sustainability partner Dr Andreas Nienhaus.
“The African market is the most interesting we study. It retains significant challenges, but shared mobility can support ongoing infrastructure development to radically change the journey mix.”