Uber Kenya partners Sidian Bank to launch vehicle solutions programme

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Taxi hailing service, Uber Kenya has announced a partnership with Kenyan commercial bank, Sidian Bank to launch its innovative Vehicle Solutions Programme.

Through the programme, existing and prospective driver-partners and investors will be able to easily drive steady business growth.

The partnership will see the creation of a financing solution through Sidian Bank, who will allocate about US$100 million to the funding of Uber driver-partner vehicles across Kenya over the next three years. Also, a leasing solution will be created through Zohari leasing.

Toyota vehicle options provided through these solutions include the Axio, Belta, Noah, Voxy and Fielder.

Eligibility for the programme will be determined by each driver’s established earnings and quality record with Uber – not a credit history. They’ll qualify if their Uber app rating is over 4.6 and have completed more than 500 trips.

“By enabling qualifying driver-partners and investors to afford reliable, high-quality vehicles, Uber is not only helping them to establish and grow their businesses, we are also building an even more sustainable ride-sharing network in Kenya which moves us forward towards achieving our vision of being a first-choice transport solution for all people in the country,” Uber Kenya stated in a post.

Also, Uber Kenya has launched Uber Finder, a platform which helps operators who are new to the Uber platform find rental vehicles in which to build their up their own track record in order to eventually qualify for the Sidian finance or leasing solutions.

This is not the first time Uber is launching a vehicle solutions programme to help drivers access loans for new cars. Uber South Africa and Uber Nigeria have the solution in place too.

This vehicle solutions programme is coming on the back of celebrations of over 1 million rides taken in Kenya since launch just 15 months ago.

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