Motor Africa and Bolt Partner to Offer Mobility Entrepreneurs Access to Credit Line.
Motor Africa, a leading mobility technology company, has announced a partnership with Bolt, the ride-hailing platform, to offer mobility entrepreneurs access to a credit line of N600,000 per year.
The collaboration aims to cushion the growing economic challenges in the country and provide support to entrepreneurs in the mobility industry.
Leveraging the power of IoT technology, Motor Africa has developed an alternative credit scoring system that allows financial institutions to offer a credit line of N600,000 per annum motorist to meet essential needs while allowing flexible repayment options over time.
The partnership with Bolt will enable mobility entrepreneurs on the Bolt platform to access a complete suite of fleet management features, including advanced vehicle safety and operational tools that optimize daily vehicle operations.
The pilot launch of this service will take place in Lagos and Ibadan, targeting existing mobility entrepreneurs on the Bolt network, as well as those aspiring to tap into the vast potential of the Bolt platform. The partnership between Motor Africa and Bolt is set to revolutionize the mobility industry in Nigeria, empowering entrepreneurs to thrive in the ever-evolving market.
In addition to the credit line collaboration, Motor Africa offers a car subscription service that allows individuals to lease their vehicles to vetted drivers on the Bolt platform. Motor Africa manages the day-to-day operations on behalf of the vehicle owners, while the owners can earn as much as N30,000 per week.
To help existing drivers earn more, Bolt and Motor Africa offer a referral commission of N6,000 to drivers who successfully refer vehicle owners willing to lease out their cars to vetted drivers on the Bolt platform.Motor Africa has activation centers in Lagos, Abuja, Benin, porthacourt and Ibadan, providing convenient locations for entrepreneurs to access their services.
To further support entrepreneurs, Motor Africa offers 24/7 support services via telephone.
For more information, individuals can visit the Bolt offices in Lagos, Abuja, Benin, Port Harcourt, and Ibadan.
They can also contact Motor Africa at 0908 900 9090 or visit their website at www.motorafrica.co/Bolt
The Motor Africa lending as a service infrastructure in Nigeria is built on the Onepipe open banking infrastructure.