Bolt, Advancly partner to offer loans to Nigerian drivers

Bolt Nigeria, a leading ride-hailing platform, has partnered with Advancly, a credit technology company, to provide short-term loans to drivers through its platform. This collaboration aims to meet the financial needs of drivers by allowing them to access upfront earnings, which both companies believe will enhance productivity.

The loan scheme will initially be tested with drivers in Lagos and Abuja. Lolia Kienka, Advancly's Country Manager for Nigeria, stated that the partnership aims to provide financial solutions tailored to those working in the gig economy.

"The gig economy is playing a vital role in shaping the future of business for independent workers," Kienka said. "This partnership reaffirms our commitment to enable entrepreneurs to grow on their own terms by providing them with access to credit."

Yahaya Mohammed, Country Manager of Bolt Nigeria, emphasized the importance of financial security for their drivers. "We recognise how important financial security is in the lives of our drivers. In addition to our platform, we are thrilled to provide them with extra resources to assist them in managing their money, providing outstanding service to riders, and ultimately expanding their businesses with Bolt," he said.

This initiative highlights Bolt's and Advancly's commitment to supporting the gig economy and empowering independent workers with the financial tools they need to succeed.