Cab app Bolt has announced a partnership with Metro Africa Express, MAX, in a move that will see drivers access a vehicle financing program in Nigeria.
MAX is a vehicle subscription platform for low to zero-emission vehicles.
The scheme is part of Bolt’s plan to enable their driver-partners to own cars with low equity repayment, support and improve earnings for drivers while allowing them to maintain flexibility as vehicle owners.
The scheme is nearly the same as Uber Kenya’s, which, alongside banking institutions, allowed customers to buy vehicles using a financing program.
The program offers solutions for drivers on the Bolt platform using leased cars via the hire-purchase or rental model.
It targets 10K driver partners.
Furthermore, the scheme will see the start of a lease-to-own framework for e-hailing drivers to lease a vehicle and pay in instalments until full ownership is secured.
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.
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. – Femi Akin-Laguda, Nigeria Country Manager at Bolt.
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. – Chinedu Azodoh, the co-founder of MAX.