Moove, an African mobility fintech company, has launched operations in Nairobi, its first city in East Africa and sixth in Africa. To expand their vehicle and product offerings to customers, the company has partnered with Uber to allow ride-hailing and delivery drivers to purchase motorcycles for Uber Connect, UberEats deliveries and UberBoda trips.
Following its recent partnership with pan-African e-logistics platform Lori Systems, Moove has further expanded its logistics vehicle offering with Kenyan logistics company, Sendy.
With Kenya’s lending costs almost twice that of South Africa’s and the average loan deposit standing at 10% – 30%, affordability is still an issue for entrepreneurs who lack a credit history. Moove will use this market opportunity to enable drivers to leverage its alternative credit-scoring technology and gain access to new vehicles, creating more job opportunities within the mobility industry.
Following the recent launch of its first two-wheeler bike product, Moove Xpress, in Lagos, Nigeria, Moove is expanding the new vehicle class to East Africa. As a result of the partnership with Uber, drivers in Nairobi will have access to Moove Xpress bikes for UberConnect, UberBoda trips and UberEats food deliveries. Drivers will be empowered by Moove’s vehicle financing solution, which gives them the flexibility to increase their earnings and productivity.
Commenting on the expansion, Moove co-founder and CEO, Ladi Delano said, “Kenya already has a thriving mobility and entrepreneurial industry for us to tap into and roll out our financing solutions, so we’re very excited to be launching into Nairobi, our sixth market in 18 months. As one of the biggest economies across Africa, our move into Kenya serves as a gateway to other East African markets. We are excited to continue our expansion, having achieved over 50% monthly growth since launch.”