Leading ride-hailing platform, Bolt, has formed strong partnerships with Metro Africa Xpress (MAX), a vehicle subscription platform for low-to-zero emission vehicles in Africa, to expand a Bolt vehicle financing programme in Nigeria.
The partnership will allow a lease-to-own framework for
e-hailing drivers to lease a vehicle and pay in instalments until full
ownership is secured. Bolt officials say the drivers would be given access to
value-add services, including access to low-to-zero emission vehicles; licenses
and permits, insurance; affordable health coverage, and other financial
products.
The scheme, according to a statement by the company, is part
of Bolt’s commitment to enabling ride-hailing drivers to own vehicles with low
equity repayment, support and improve earnings for drivers while allowing them
to maintain flexibility as vehicle owners.
The programme, which offers solutions for drivers on the
Bolt platform using leased cars via the hire-purchase or rental model, is in
partnership with MAX. Bolt says its partnership with MAX will also enable
Nigerian drivers to increase their efficiency. Bolt’s country Manage, Femi
Akin-Laguda, said.
The ride-hailing company launched its vehicle financing
scheme early this year to enable drivers to own a car or motorbike with low
equity repayment. Mr Akin-Laguda said that Bolt has decided to expand its
scheme to create opportunities for more prospective drivers.
“In partnership with Max, we are looking to expand our
commitment to helping drivers on the Bolt platform to earn more and at their
own pace, either driving full time or part-time.
Drivers are fundamental to our business operations, and it
is important to provide solutions that ensure that driving on Bolt is flexible
and profitable because improving partner earnings is fundamental to sustaining
the trust and loyalty that we have earned over time.”
Chief Executive Officer and co-founder of MAX, Adetayo
Bamiduro, said:
“Our vision for African mobility is for shared modes of
transportation to become the norm. We strive for a world where people and goods
can move in a predictable, safe and efficient way with zero impact on our
climate. Our partnership with Bolt is perfectly aligned with this goal.
We are enthusiastic about transforming the transport sector
together, enabled by our innovative and industry-leading mobility and financial
services infrastructure.”
In his comments, co-founder of MAX, Chinedu Azodoh, said:
“At MAX, we are constantly developing solutions to make
travel easier, safer and more pleasing. This is what powers our focus on
innovation and strategic partnerships. We are excited about this opportunity to
extend these solutions with Bolt further.
“With the first batch of drivers already integrated into the
programme, Bolt, in partnership with MAX, will continue advancing and easing
mobility in Nigeria and empowering the economy with extra earning opportunities
for drivers.”
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