Moove, a mobility fintech, has partnered with CFAO Motors an automotive distribution network for its mobility entrepreneurs across Ghana and Nigeria. With deliveries already commenced, the partnership marks a breakthrough in bridging the continent’s gap of new vehicles.
Moove amassed more than 50% month-over-month growth since its launch in 2019 and hopes to provide a range of Suzuki cars including the Alto, Swift, Celerio, Baleno, Dzire and S-Presso models across Ghana and Nigeria. The company’s flexible Drive to Own product is also set to provide prospective drivers with an invaluable opportunity to work towards owning the vehicles in 30, 36 or 48 months. Buyers can do this by paying a percentage of their weekly income and have the ability to access other financial services through the Moove app.
Drivers can sign up to register their interest on the Moove website. Prior to accessing the vehicles, all drivers’ must have their details assessed and verified by Moove as well as undergo training before vehicles are assigned.
Earlier this month, Moove announced a Ksh. 1.13 billion (USD 10 million) financing from NBK Capital Partners. The financing brought its total funds raised to date to Ksh. 8.9 billion (USD 78 million).
Speaking on the new partnership, Ladi Delano, Co-Founder and CEO of Moove said, “Since our launch in July 2020, we’ve found tremendous traction across all of our markets and as we enter a new phase of growth, the importance of a local, pan-African supplier such as CFAO who can equip us to quickly respond to the needs of our customers simply can’t be understated.”
On his end, Marc Hirschfeld, CEO of CFAO Automotive division said, “CFAO is pleased to be part of this mobility partnership in helping to democratize vehicle ownership. We are convinced that prospective Moove customers will get the most out of their investment as the vehicles are easy to service and maintain. Suzuki is a key vehicle manufacturer we supply at the domestic CFAO dealership in many countries across Africa.”