Tunisian authorities have suspended the operations of ride-hailing giant Bolt and other unnamed companies amid a probe into alleged money laundering and tax evasion, the country’s interior ministry announced on Monday. The investigation has so far led to the seizure of approximately 12 million Tunisian dinars (€3.5 million) from the accounts of several app-based transport service providers.
According to a statement from the National Guard, whose financial division is leading the investigation, the implicated companies are suspected of operating without the necessary legal licenses or using “false authorisations.” They are also accused of maintaining undeclared bank accounts through which they illicitly transferred significant sums of money abroad, in violation of Tunisian financial regulations.
While the official statement did not name the companies involved, a source close to the matter confirmed that Bolt, the Estonian-based multinational with a significant presence in Tunisia, is the primary target of the investigation. Bolt boasts 4.5 million partner drivers globally and is widely used in Tunisia, particularly in major urban centres like Tunis and Sfax where public transport infrastructure struggles to meet the demands of the population.
The National Guard’s statement detailed that preliminary investigations by its national unit for investigating complex financial crimes uncovered suspicions of money laundering and tax evasion among the managers of these private taxi passenger transport applications. As a result of the findings, the implicated companies have been struck off the national business registry, and their headquarters have been closed.
The move comes as Tunisians increasingly rely on private taxi services facilitated by mobile applications for their transportation needs. The public transport system, especially in the capital Tunis, which has a population exceeding two million, has suffered from deterioration over the past decade due to insufficient maintenance and a lack of investment in its renewal. Tunisian President Kais Saied has also previously voiced concerns about corruption within the public transport sector during visits to bus and train depots.
The investigation, overseen by the public prosecutor of the economic and financial judicial division, underscores Tunisia’s ongoing efforts to combat corruption and financial crime. The specific details regarding the alleged money laundering and tax evasion schemes have not yet been fully disclosed by the authorities.
The suspension of Bolt’s operations will likely impact a significant number of users and drivers in Tunisia. The company has become a popular alternative to traditional taxis, offering convenience and often competitive pricing. The absence of Bolt, and potentially other ride-hailing platforms, could put further strain on the already overburdened public transport system and potentially lead to increased demand for conventional taxi services.
It remains unclear how long the suspension will last and what steps Bolt and the other implicated companies will need to take to address the allegations and potentially resume their operations in Tunisia. As of Monday afternoon, Bolt had not issued an official statement regarding the suspension by Tunisian authorities.
The case highlights the challenges faced by international technology companies operating in diverse regulatory environments and the importance of adhering to local laws and licensing requirements. It also reflects the growing scrutiny of financial activities within the burgeoning ride-hailing sector globally. Further updates on the investigation are expected from the Tunisian authorities in the coming days.