NaijaBuzz

Tech • 5h ago

Uber partners Fido to offer instant loans to drivers in Ghana

Uber partners Fido to offer instant loans to drivers in Ghana
**Uber and Fido Partner to Offer Instant Loans to Drivers in Ghana** In a move that is expected to boost the financial stability of ride-hailing drivers in Ghana, Uber has partnered with Fido, a local fintech platform, to provide instant loans to eligible drivers. This partnership makes it possible for Ghanaian Uber drivers to access loans of up to GH₵10,000 ($920) without the need for collateral or extensive paperwork. The partnership comes at a time when ride-hailing drivers in Ghana are facing significant financial challenges. With rising fuel prices, maintenance costs, and platform commissions eating into their earnings, many drivers struggle to make ends meet. This new initiative is designed to help drivers manage their finances better, cover unexpected expenses, and invest in their businesses. According to Jada Badu, Uber's Country Manager for Ghana, the partnership is aimed at providing drivers with fast, transparent, and accessible credit. "This support will give drivers greater financial flexibility to manage their daily operations, maintain their vehicles, and stay on the road with confidence," she said. Under the partnership, eligible drivers can start with smaller credit limits, which can increase over time based on their repayment history. The loans are processed quickly, allowing drivers to cover urgent operational costs such as vehicle repairs, fuel, and other expenses. In addition to loans, qualifying drivers will also have access to other financial products offered by Fido, including free insurance cover, discounted airtime and data bundles, and flexible savings through EasySave. EasySave is a product developed in partnership with Access Bank, which allows drivers to earn returns on their savings while maintaining liquidity. For drivers, this partnership is a welcome relief, providing them with a safety net to manage their finances and grow their businesses.
Source: Original Article • AI-enhanced version for clarity & Nigerian context

Share this story

WhatsApp Telegram