Taxify signs vehicle financing deal to take on UberCHAPCHAP

Ride-hailing firm Taxify has announced a vehicle financing deal for Taxify drivers in Kenya, a move set to take on Uber low cost option in the country dubbed UberCHAPCHAP.

The deal, with Taxify, Stanbic Bank and Renault Kenya is expected to see a number of individual drivers benefit 100% financing from Stanbic Bank while Renault Kenya, a sub brand of Simba Corporation, will provide Renault KWIDS with engine capacity of 800cc and fuel efficiency of 24km/litre.

The vehicle is financed at 0% deposit with the repayment tenure being 36 months. The partnership also offers a 25% discount on part replacement, 20% discount on labour and AA rescue to all drivers.

Taxify will vet and pre-qualify drivers who have met various criterion including positive driver ratings of 4.7 and above.

Alex Mwaura, Taxify Country Manager, Kenya said, “We always strive to ensure that we meet the growing need of an affordable and reliable transportation for riders, whilst creating sustainable jobs and enabling drivers boost their source of income.”

Like, UberCHAPCHAP, Taxify aims to use this deal to increase its fleet locally and attract more users to its platform and as well help its driver-partners buy new cars without upfront costs.

The Renault KWID was launched in 2016 and is touted to be the most affordable, fuel efficient and durable car within its category. Under the partnership, drivers will also benefit from product trainings and wealth management courses. The Taxify drivers further have an option of selecting either automatic or manual versions of the Renault KWID.

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