Little App Ethiopia partner with Bank of Abyssinia to promote digital lending for ride-hailing drivers

Little App - Ethiopia has entered into a partnership agreement with Bank of Abyssinia, also known as Apollo Digital Bank with the aim of transforming the financial landscape for ride-hailing drivers, providing them with access to essential loans to cover various operational expenses.

Ride-hailing drivers, often the unsung heroes of urban transportation, face a range of financial challenges in their day-to-day operations. These challenges encompass everything from insurance premiums to vehicle maintenance and the substantial annual tax obligations that are part and parcel of the profession. However, with the new partnership between Little App - Ethiopia and Bank of Abyssinia, drivers in Ethiopia can now breathe a little easier.

Through Apollo's Neo Bank, ride-hailing drivers using Little App's platform can secure non-collateralized loans, with the added benefit of attractive interest rates. This move is set to address a crucial gap in the market, as it caters to the financial needs of ride-hailing drivers who often find themselves excluded from conventional digital lending platforms.

The Country Manager of Little App – Ethiopia, Barouk Almaw Gari in a LinkedIn social media post expressed immense enthusiasm regarding this transformative partnership. He highlighted that this collaboration represents a major leap forward in digital lending and investment, particularly for ride-hailing drivers.

“This partnership marks a big step in digital lending and investment for hide-railing drivers, demonstrating trust in credit-score engines and the potential to building long-lasting relationships with one of the highest-earning, tech-savvy, gig-economy worker groups in Ethiopia,” he said.

“Little is proud to be at the forefront of this endeavor, which represents the next step in digital lending in Ethiopia,” he added.

By: Nana Appiah Acquaye