Uber enters a $14 Million car rental deal with South Africa’s WesBank

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Transport technology platform, Uber has entered into a R200 million ($14 million) car rental deal with South Africa’s WesBank, a leading vehicle and asset finance provider.

Developed by WesBank in collaboration with FirstRand’s Enterprise Development Fund, Vumela, the deal will see existing Uber driver-partners access cars on a full maintenance lease option at affordable prices than they could in the market, with a view to establishing their own passenger transport business in partnership and with the help of Uber’s technology.

According to Alon Lits, Regional General Manager for Uber in Sub-Saharan Africa, “Anyone who has been driving using the Uber app for a reasonable time and has a good earnings and quality record, now has the opportunity to acquire a brand new car and start their own business full time.”

Uber says the deal is part of Uber’s ongoing commitment to opening the technology platform to new operators and empowering existing drivers to establish themselves as small business owners. Uber is targeting to enable 15 000 new work opportunities for driver-partners across South Africa in the next two years.

The opportunity is not limited to drivers with an existing record of income with Uber but open to other metered taxi companies as well. The drivers with metered taxis can rent an accepted vehicle at improved rates use it in partnership with Uber, until they have built an earnings and quality record needed to qualify for the full maintenance lease programme.

The Uber network is now available in 344 cities across 63 countries and 6 continents.