There are many taxi apps operating in Kenya. Popular ones include Uber, Little and Bolt.
However, there are others that many others that run operations locally, and are locally owned. Some have never really caught on because they have been eclipsed by market leaders that have bigger budgets to push for visibility, and by extension, popularity.
MARAMOJA is one of those low-key taxi apps that continues to survive to date.
Now, it has signed a partnership with Switchlink Africa to offer loan services to its customers.
A statement from the firm reveals that the ride-hailing platform will provide access to its API, which will then enable service provider to link up with MARAMOJA’s +100K drivers and customers through an Open API.
Fintechs and insurtechs will now have an opportunity to connect to MARAMOJA’s ecosystem via a single API and Third-Party Service Providers, including petrol stations, garages, service centers, car wash, car spares, and car tracking.
All these service providers will be able to connect directly with MARAMOJA’s drivers’ partners in the platform.
In the same breath, customers who will not have money to pay for their rides will have an opportunity to take rides on credit and purchase additional insurance covers and other products through the API.
Switchlink Africa’s role is to build the system that will enable the service providers to plug into MARAMOJA’s ecosystem and enable them to provide credit and access insurance services, among others.
How It Works
You will be able to use the MARAMOJA app to acquire and repay loans from within the platform, avoiding the need for a third-party site.
A lender will seamlessly offer you a credit limit/discount, but you don’t have to borrow the entire amount. You just use what you need.
Your credit limit will be determined by your financial strength, your activity on the platform, and your credit history.
However, some lenders may extend this limit depending on their credit policies or if you can demonstrate another means of being able to repay what you borrow.
Similarly, service providers will utilize the same mechanisms to give you discounts and buy now pay later programs (BNPL).
DeFi ready- Embedded Finance
MARAMOJA clients will enjoy embedded credit, finance, and lending facilities, which will enable them to access loans, financial offerings, and credit as an in-app experience increasing digital financial inclusion in the process.
Currently, MARAMOJA has partnerships with fintech companies including Imalipay, Power, Pezesha; and Insurtech companies including Afya Poa and Motisure.
Through this API all these partners will be able to tap into the MARAMOJA ecosystem seamlessly.
At the same time, MARAMOJA is currently piloting a DeFi instrument through a partnership with Symplify and Bitlipa which will unlock alternative financing opportunities and enable more DeFi players to plug into the ecosystem- Decentralized Finance (DeFi) enables transparent transactions using peer-to-peer interaction via smart contracts on a blockchain making products and services available on a decentralized public network.
“Switchlink Africa team is looking forward to working with MARAMOJA. The MARAMOJA platform will potentially connect millions of users in the continent providing exciting opportunities for the ecosystem. Our team eagerly awaits what’s to come with this partnership,” says David Waruinge, General Manager, Switchlink Africa.
“We’re super excited to partner with Switchlink Africa to take advantage of the speed and flexibility of their solutions. We can’t wait to launch the Open API that will make it easy for anyone to connect with our ecosystem and to further the shared mission of unlocking value (by increasing access to financial, insurance, and other products in our ecosystem) in the process of solving the challenges facing Africa’s (and Emerging Markets) transport and logistics industry,” says Ronald Mahondo, CEO of MARAMOJA Transport Limited.