Gozem, Africa’s super app, and Coris Bank International Togo announce that they have entered into a strategic asset-financing partnership. As a result, Gozem driver-partners can now access low-interest loans for the purchase of new motorcycles.
This means that, for the first time, Gozem’s driver-partners will be able to benefit from performance-based financing, paving the way for large-scale, data-based financing in the informal sector.
The Gozem platform allows its driver-partners to work in a more structured way and offers a variety of tech-enabled metrics to assess daily driver performance. Thanks to this, Gozem Vehicle Financing Solutions can now provide its partner bank with 5 key services that make credit reliable: Credit Scoring, KYC, Tracking, Daily Payment and Default Collections.
This innovative agreement between two key institutions operating across West Africa is the first of its kind. Thanks to this partnership, any high-performing Gozem driver will be able to access new, high-quality vehicles and re-pay the balance outstanding daily via their Gozem wallets.
The pioneering agreement is in keeping with Gozem’s commitment to constantly develop forward-thinking partnerships that benefit its driver-partners and Coris Bank International Togo’s determination to offer a multitude of ingenious financial products and services at very flexible banking conditions to citizens from all walks of life.
The motorcycle financing program is designed to create significant business growth opportunities for Gozem driver-partners by helping them finance a new vehicle at very competitive interest rates over flexible repayment periods with the support of Coris Bank International Togo.
This allows drivers who demonstrate strong performance on the Gozem platform to have access to new, more efficient motorcycles, thereby improving passenger and driver safety, and increasing their daily income.”We are committed to supporting our drivers to ensure their success, not only in terms of increasing profits, but more importantly by providing them with opportunities to truly transform their standard of living in a sustainable way.
This partnership with Coris Bank International Togo is a further step in that direction as it actualizes the dream of many high-performing drivers and enables them to affordably access new vehicles without incurring the high costs often associated with hire-purchase (‘Work and Pay’) or other alternative agreements,” said Jean-Martial Moulaud, Country Manager of Gozem Togo.
Alassane Kabore, Managing Director of Coris Bank International Togo said: “This financing agreement with Gozem is a testament to the bank’s drive to offer innovative services to all market segments.
Through this partnership, Coris Bank International Togo will support a key informal sector participant, zemidjan drivers, in building and growing profitable businesses on the Gozem platform. We are pleased to continue to offer solutions to all segments of the population.”