Bolt, a ride-hailing company, has teamed up with MAX, Africa’s largest automotive subscription platform, to expand the Bolt vehicle finance program in Nigeria. This program is part of Bolt’s commitment to allowing ride-hailing drivers to purchase automobiles with minimal equity repayment, assistance, and increased earnings while maintaining their vehicle ownership flexibility.
The Bolt-MAX alliance will introduce a lease-to-own program for e-hailing drivers, allowing them to lease a vehicle and pay in installments until full ownership is obtained.
Nigerian drivers will be able to improve their efficiency by gaining access to a number of value-added services, including as access to low-to-zero emission vehicles, licenses and permits, insurance, inexpensive health coverage, and other financial goods, thanks to the cooperation.
What they are saying
Femi Akin-Laguda, Country Manager at Bolt, 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.”
Chief Executive Officer and co-founder of MAX, Adetayo Bamiduro, 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.