Bolt – a ride hailing platform has with the Metro Africa Express (MAX), one of Africa’s largest vehicle subscription platform to expand the Bolt vehicle financing program in Nigeria.
The financial scheme is part of Bolt’s commitment to seeing that its drivers own their own vehicles with low equity repayment, support a d improved earnings for drivers while allowing them maintain flexibility as vehicle owners.
The partnership between Bolt and 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 by the drivers.
The partnership will also enable Nigerian drivers increase their efficiency by accessing a variety of value-added services including access to low-to-zero emission vehicles; licenses and permits, insurance; affordable health coverage, and other financial products.
According to the the Country Manager at Bolt, Femi Akin-Laguda, he revealed that earlier this year, the company had launched a vehicle financing scheme.
Akin-Laguda 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, 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.”
Responding to the partnership, CEO and co-founder of MAX, Adetayo Bamiduro revealed that the vision of MAX for African mobility was that shared modes of transportation become a norm.
He 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, the co-founder of MAX commented, “At MAX, we are constantly developing solutions to make travel easier, safer, and more pleasing.”He further 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.