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Business News of Sunday, 27 June 2021

Source: thenationonlineng.net

Bolt launches vehicle financing for drivers

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Africa’s leading ride-hailing platform, Bolt, has launched a vehicle financing programme that will enable drivers to own a car with low equity repayment.

This first-of-its-kind offering in Nigeria is part of Bolt’s commitment to improving earnings for drivers while allowing them to maintain flexibility as vehicle owners.

The vehicle financing programme was made possible through Bolt’s operative verification of driver identities and extensive data on driver activities in partnership with Sterling Bank’s Alternative Finance. The programme will provide a better alternative for drivers who currently lease a car via the hire-purchase or rental model to drive on the Bolt platform.

“This initiative reiterates our continued commitment to helping our drivers earn more as our partners in moving Nigeria," says Bolt Country Manager Femi Akin-Laguda.

“Our drivers are vital to our business operations, and improving the earnings of every driver is fundamental to keeping the trust and loyalty that we have earned over the last couple of years.  As we expand our presence into more cities across the country, it is important to provide solutions that ensure working with Bolt is more flexible and profitable for drivers, which inherently improves the overall experience for our riders as well. More importantly, the vehicle financing programme will enable drivers to earn at their own pace either driving full time or part-time.”

“We are very excited to be partnering with Africa’s leading ride-hailing platform, Bolt, to bring this service to their drivers, and we are confident of a long-lasting and truly rewarding alliance,” concluded Desalu.