Uber inks deal with Branch to offer loan to drivers

NAIROBI, KENYA: Uber and Branch announced a partnership that will enable existing drivers who use the Uber app to access an exclusive loan package from Branch, a leading mobile lender. The partnership’s objective is to help existing drivers driving with Uber to become driver-partners and own and grow their businesses.

Under the partnership, high performing drivers using Uber will be able to leverage their data on the ride-hailing app to gain access to the new loan product on the Branch app. Its simple!  All a  driver needs to access the loan is to complete 500 trips and have a 4.6* rating on the Uber App. Qualifying drivers will have access to Sh30,000 as a starter loan, payable within 6 months at a fee of Sh2,172, which is equivalent to a 1.2 percent monthly interest rate.