Uber Nigeria on Wednesday announced that it had secured low-interest loan for used vehicles to its top-rate driver-partners to grow their businesses.
A statement in Lagos by the firm said the deal was a partnership between it and First Bank of Nigeria as well as smaller financiers.
It quoted Mr Ebi Atawodi, General Manager of Uber in Nigeria, as saying that the deal entailed that Uber driver-partners could apply for finance for used vehicles based on their performance records.
The News Agency of Nigeria (NAN) reports that Uber service is to help people get a ride at the push of a button, to everywhere and for everyone.
The Uber network is now available in over 475 cities in more than 75 countries in six continents.
According to Atawodi, the used-vehicle-finance offering is the first of its kind to Uber driver-partners in the country.
“We are absolutely committed to making it as easy as possible for our driver-partners to start and maintain their own successful and profitable businesses.
“The used-vehicle-finance option makes it possible for those with a demonstrable performance commitment to build sustainable businesses without incurring the high costs often associated with new vehicle purchases,” he said.
He said that the deal would be at a very competitive interest rate of 20 per cent per annum, 24-month repayment period.
Atawodi added that alternative offers for used-vehicle finance on the Uber Vehicle Solutions Programme would attract 22 per cent per annum, with a maximum repayment term of 36 months.
Adesola Adeduntan, Managing Director/Chief Executive Officer, First Bank of Nigeria Limited and Subsidiaries was also quoted as saying that the bank supported it to build sustainable businesses that would stimulate economic development.
“It remains our business to foster the growth and development of small and medium scale businesses in Nigeria as the number one SME Bank.
“This is the reason why we have partnered Uber by empowering operators to own vehicles and build profitable businesses,” he stated. (NAN)