After Uber, Taxify unveils vehicle financing deal for Kenya’s driver partners

Ride-hailing firm Taxify, in partnership with Stanbic Bank and Renault Kenya, has announced a vehicle financing dealership for Taxify drivers in Kenya.

The partnership is expected to see a number of individual drivers benefit from 100% financing from Stanbic Bank. As part of the agreement, Renault Kenya, a sub brand of Simba Corporation, will provide Renault KWIDS models with an engine capacity of 800cc and fuel efficiency of 24km/litre to driver partners willing to take up the deal.

(TOP: Kariuki Fernandes, head of partnerships at Taxify – right – in a demo with a Taxify driver partner).

The vehicle is financed at 0% deposit with the repayment tenure being 36 months. The partnership also offers a 25% discount on part replacement, 20% discount on labour and AA rescue to all drivers. Taxify will vet and pre-qualify drivers who have met various criterion including positive driver ratings of 4.7 and above.

Speaking at the partnership launch event Alex Mwaura, Taxify Country Manager, Kenya said: “We always strive to ensure that we meet the growing need of an affordable and reliable transportation for riders, whilst creating sustainable jobs and enabling drivers boost their source of income. We understand the challenges presented to most of the drivers on our platform. Purchasing a car upfront can take time and months of investment and in most cases, drivers opt to lease cars. This deal will not only help drivers access a feasible and cost-effective way to own cars, but also offer an easier way to provide income for themselves and their families.” He added.

Renault Kenya Brand Manager Jonathan Dos Santos is confident that the Renault KWID model is best suited for this partnership. “The KWID was launched in 2016 and has proved to be the most affordable, fuel efficient and durable car with best ground clearance in cars within its category. “This compact SUV-inspired small car tops up as the most fuel efficient cars, with Kshs 1,000, I can bet four times profit for Taxify drivers, “ said Dos Santos.

Under the partnership, drivers will also benefit from product trainings and wealth management courses. The Taxify drivers further have an option of selecting either automatic or manual versions of the Renault KWID.

The Taxify, Renault Kenya and Stanbic Kenya vehicle financing deal comes exactly a year after Uber unveiled a similar deal for its driver partners in partnership with Barclays Bank.

Leave a Reply

Be the first to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.