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Business News of Thursday, 25 November 2021


Bolt partners MAX to help drivers own vehicles in Nigeria

Photo used to illustrate the story Photo used to illustrate the story

Bolt, an Estonian mobility company, announced Wednesday, November 24, that it has has partnered with Metro Africa Express (MAX), in an effort to expand the Bolt vehicle financing programme in Nigeria.

This was disclosed in a statement issued by MAX’s Chief Financial Officer, Guy-Bertrand Njoya.

“Leading ride-hailing platform, Bolt has partnered with Metro Africa Express- (MAX) the largest vehicle subscription platform for low-to-zero emission vehicles in Africa – to expand the Bolt vehicle financing program in Nigeria,” the statement reads.

It said the scheme is part of Bolt’s commitment towards 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.

Key objectives/b>

According to the statement, 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.

Mr Njoya explained that the partnership will also enable Nigerian drivers to increase their efficiency by accessing a variety of value-add services which include access to low-to-zero emission vehicles; licenses and permits, insurance; affordable health coverage, and other financial products.

In his remarks, Femi Akin-Laguda, Bolt’s country manager said: “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.”

In partnership with Max, he said 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,” he said.

Adetayo Bamiduro, MAX’s co-founder and chief executive officer said their 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.” Mr Bamiduro said.

In a similar manner, Chinedu Azodoh, another co-founder of MAX 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,” he added.

“With the first batch of drivers already integrated into the program, Bolt, in partnership with MAX, will continue advancing and easing mobility in Nigeria and empowering the economy with extra earning opportunities for drivers,” the statement said.