Taxify partners with Stanbic Bank and Renault Kenya to roll vehicle financing for drivers

Taxify has entered into a new partnership with Stanbic Bank and Renault Kenya, to offer vehicle financing for Taxify drivers.

Under this partnership, Renault Kenya, a sub-brand of Simba Corporation, will provide Renault KWIDS with engine capacity of 800cc and fuel efficiency of 24km/litre to Taxify drivers.

Individual drivers are expected to benefit 100% financing from Stanbic Bank. As part of the agreement, 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.

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 affordable and reliable transportation for riders, whilst creating sustainable jobs and enabling drivers to 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.

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The Cab-hailing service will vet and pre-qualify drivers who have met various criterion including positive driver ratings of 4.7 and above.

“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 KES 1000, I can bet four times profit for Taxify drivers, “ Renault Kenya Brand Manager Jonathan Dos Santos said.

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

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