How carmakers lure ride-hailer, delivery drivers in Africa - 3 months ago, 9 Nov 12:06
At Suzuki Motor Corp’s showroom in the Kenyan capital, hundreds of its Alto compact cars are waiting to be collected.
Most of the customers are drivers for ride-hailing company Uber Technologies, which struck a loans and discount deal with the Japanese carmaker and South Africa’s Stanbic Bank , at the beginning of the year.
Africa should be a huge growth market for automakers. Transport links are weak and personal car ownership is low. There are 25 cars per 1000 Kenyans compared to 786 in the United States, according to the World Bank. But many in Africa cannot afford to buy a vehicle, particularly just for personal use.
The Alto deal in Kenya, soon to be extended to Uganda and Tanzania, offers financing of up to 100 percent for top-rated Uber drivers and a price of 850,000 Kenyan shillings ($8,349.71), lower than the usual 950,000 shillings. The loans are repaid with the ...
Category: business news