(AP Photo/Keith Srakocic)

CAPE TOWN – Taxi-hailing app, Bolt formerly-known as Taxify, has announced plans to launch a food delivery service in South Africa.

Chief executive and co-founder of Bolt Markus Villig said in a statement: "Combined with our technology, efficient operations and thousands of drivers in South Africa, we plan to build the best food delivery service for the people who already use our services daily"

"This has led us to grow faster and more cost-efficiently than any other ride-hailing platform in the world, Now we want to bring this approach to food delivery.”

According to the company, will be one of the first three countries globally to be offered the new service, along with Estonia and Finland.

The new service will compete with other delivery services such as Mr D Food and Uber Eats in South Africa.

The company has yet to announce the launch date of the service. 

Just recently, the company rebranded and changed its name due to the fact that they will no longer only just be focusing on cars but believes the future of transportation is electric.

"Taxify launched five years ago with a mission to make urban transportation more convenient and affordable. Our first product was a taxi dispatch solution that gave the company its original name", Bolt told Business Report.