Wednesday
May 25
2016

Uber Kenya and Sidian Bank Launch $100M Vehicle Solutions Programme

Uber and Sidian Bank announced today that they have partnered to launch an innovative Uber Vehicle Solutions Programme that will give driver-partners and business investors convenient and affordable access to the quality vehicles they need to start or grow their Uber-based businesses. This comes shortly after Uber celebrated 1 million rides taken in Kenya since its launch just 15 months ago.

The ground breaking vehicle access initiative includes a vehicle finance component delivered through Sidian Bank and a vehicle leasing solution made available through Zohari Leasing. The initiative is valued at a total of approximately Ksh 10 billion (USD 100 million).

According to Nate Anderson, Acting General Manager for Uber in Kenya, the Vehicle Solutions Programme follows similar offerings that have recently been launched by Uber in partnership with WesBank, with great success in South Africa as well as in a number of international locations where Uber has a presence.

“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,”Anderson points out, “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 everyone in the country.”

Source: Proshare NG (link opens in a new window)

Categories
Investing
Tags
infrastructure, investment, transportation