inDrive Does Not Currently Intend To Launch Its 'inDrive.Money' Credit Facility For Drivers In Nigeria

inDrive has said it does not intend to launch its ‘inDrive.Money’ credit service for drivers in Nigeria for now. This comes as a surprise to many, especially since lots of e-hailing drivers in Nigeria are struggling with less money and financial problems.

A person from inDrive told Technext that even though the company runs in Nigeria, the ‘inDrive.Money’ credit service is mainly working in Latin American countries like Peru, Mexico, Colombia, and Indonesia. They said Nigeria is a good market, but there are no plans to bring the credit service here yet.

The ‘inDrive.Money’ credit facility is a way for drivers to get small loans to help with things like fixing their cars or paying for urgent needs. The service has already helped over 100,000 drivers in the countries where it is available. Drivers can pay back the loans little by little from the money they earn from rides, making it easier to manage.

inDrive does not intend to launch its 'inDrive.Money’

Earlier in 2024, inDrive said it wanted to offer loans and credit to drivers in some African countries, including Nigeria, Kenya, Tanzania, Botswana, Ghana, and Namibia. The goal was to help drivers handle money problems that come up while working.

But now, the company says it is focusing on Latin America first and has not made any moves to start the service in Nigeria. A spokesperson explained that while they see great chances for the service in Nigeria, it is not happening soon.

inDrive is trying to do more than just offer rides. They want to become a platform that offers many services, including financial help for drivers. The company believes this will help drivers stay loyal, keep working, and make more money overall.

Mark Loughran, the President of inDrive, said the credit service is about giving drivers fair choices. He said many drivers depend on the money they make from the app to live, so helping them with loans is important. This service gives drivers more safety and freedom, so they don’t have to stop working when unexpected costs come up.

Other ride-hailing companies in Nigeria are also starting to offer financial help. For example, Bolt began giving short-term loans to its drivers in 2024, based on how active or good their ratings are. Uber has not started loans yet but introduced a feature called Flex Pay that lets drivers get their earnings every day instead of once a week.

So, while inDrive does not intend to launch ‘inDrive.Money’ in Nigeria now, if it ever does, it will join other companies helping drivers with money. For now, Nigerian drivers will have to wait and see if inDrive changes its mind in the future.

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