Kenyan Bolt Drivers To Own Cars On Loan In New Deal With Hakki Africa: "Own A Car After 3.5 Years"

• Bolt has partnered with Hakki Africa to provide 1,500 vehicles to drivers without cars through a financing program over the next 18 months
• The programme offers drivers lower loan down payments and performance-based incentives to help them own their vehicles and increase their earnings
• The partnership aims to address the financial barriers many Kenyans face by providing gig workers with access to credit through a specialised scoring system
• Drivers will have the opportunity to fully own their cars after three and a half years of repayments, allowing them to increase their income or explore new business opportunities

Elijah Ntongai, a journalist at TUKO.co.ke, has more than three years of financial, business, and technology research expertise, providing insights into Kenyan and global trends.

Ride-hailing platform Bolt has partnered with Hakki Africa, a microfinance institution, to facilitate vehicle ownership for drivers without cars.

Over the next 18 months, 1,500 vehicles will be made available to Bolt drivers via financing.

The programme is designed to provide drivers with lower down payments on loans and performance-based incentives.

According to Linda Ndungu, General Manager for Bolt Rides, the partnership aims to uplift drivers in the ride-hailing sector by improving their earnings and reducing operational expenses.

“This collaboration will not only enable more drivers to own their vehicles but also enhance their earnings, reduce operational costs, and foster a more prosperous driver community. Together, we are driving change and ensuring that our drivers can thrive in the ride-hailing industry,” Ndungu told Capital FM.

Easing access to Bolt car loans

Access to financial services remains a significant challenge in Kenya, where many individuals lack the credit history required by traditional banks.

Hakki Africa seeks to address this gap by offering tailored credit solutions to Bolt and other workers in Kenya.

“Our credit scoring system helps gig-workers, who previously couldn’t access financial services, to establish credit and receive loans. We consider them as essential for Kenya’s economy and its growth,” said Yumeka Abe, director at Hakki Africa.

The programme allows drivers to own their cars after three and a half years of loan repayments, offering them the opportunity to boost their income.

“Drivers who take loans from us and can own a car after three and a half years of repayments," Abe added.

This partnership is expected to have a significant impact on Kenya's ride-hailing industry by empowering drivers and contributing to broader economic growth.

Taxi drivers down tools over low payments

In other related news, Bolt and Uber drivers in Kenya went on strike, raising concerns over low compensations.

In an exclusive interview with TUKO.co.ke, Joseph Makumi, a digital taxi driver, accused the companies of paying attention to riders' needs and complaints and neglecting their (drivers) issues.

He said most drivers want the companies to raise ride charges and reduce commission and other unnecessary charges.

In a statement to TUKO.co.ke, Bolt said they were committed to the well-being of both the drivers and riders.

Proofreading by Asher Omondi, current affairs journalist and copy editor at TUKO.co.ke.