Moove, Suzuki, and MUFG to Collaborate Promoting Financial Inclusion for African Mobility Gig Workers

Mobility fintech Moove has signed an agreement with MUFG and Suzuki to provide revenue-based financing to mobility entrepreneurs to advance financial inclusion, job creation, and upskilling opportunities. 

The Memorandum of Understanding signed by the companies creates a framework for the parties to work closely together on solving other challenges in mobility, including providing access to finance for more female customers as well as improving road safety and training support for mobility entrepreneurs.

The MoU signed between Moove, MUFG – one of the world's leading financial groups – and Suzuki is the first ever to involve an African fintech company. 

Moove's alternative credit scoring technology will enable access to vehicle financing to mobility entrepreneurs, backed by the strength of MUFG's financial services capabilities and Suzuki's expertise in supplying durable, high-performance and fuel-efficient vehicles.

Moove, which was launched in Lagos in 2020, is a mission-led company hoping to improve mobility across Africa. The company has since scaled to seven markets across sub-Saharan and six markets in MENA, Asia, and Europe and its customers have completed more than 7 million trips in Moove-financed vehicles.