Model Partnerships – Catalysing Africa’s Digital Transformation By Backing Start-up Growth
- Africa.com
- Dec 3, 2021
- 1 min read
"Asaak, a FinTech platform that provides affordable asset financing to African gig economy workers. Asaak’s primary customer is ride hailing app drivers operating motorcycle taxis (known locally as boda bodas). Despite having steady work, most boda drivers cannot access capital to purchase a motorcycle or to pay for their everyday expenses. This group represents the fastest growing demographic in Africa today with a $50bn unmet need for capital..."
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Despite maintaining consistent employment, the majority of boda drivers are unable to secure finance for doodle baseball motorcycle acquisition or to cover their daily expenditures.