Bolt, a ride-hailing firm, is partnering with Metro Africa Express (MAX) to expand the Bolt vehicle financing programme in Nigeria.
Bolt said the scheme is part of its commitment to enabling ride-hailing drivers to own vehicles with low equity repayment, support, and improved earnings for drivers while allowing them to maintain flexibility as vehicle owners.
The Bolt partnership with MAX will launch a lease-to-own framework for e-hailing drivers to lease a vehicle and pay in instalments until full ownership is secured.
“We launched our vehicle financing scheme early this year to enable drivers to own a car or motorbike with low equity repayment and have decided to expand the scheme to create opportunities for more prospective drivers,” said Femi Akin-Laguda, Country Manager at Bolt.
“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.”
Chinedu Azodoh, co-founder of MAX commented, “At MAX, we are constantly developing solutions to make travel easier, safer, and more pleasing.”
Azodoh noted that this is what powers their focus on innovation and strategic partnerships, and stated that they are excited about the opportunity to extend these solutions with Bolt further