MAX and VFD Microfinance Bank Limited, have embarked on a $3million strategic partnership aimed at increasing independent motorcycle (okada) and taxi drivers’ access to financial services.

As part of the agreement, VFD Microfinance Bank will be extending a $3 million credit that will enable MAX drivers to finance their vehicles. Through the process, more than 5,000 MAX drivers will also gain access to digital financial services offered by VFD Microfinance Bank and an opportunity to build a full credit profile that will enable further access to more banking products.

MAX co-founder and Chief Executive Officer, Adetayo Bamiduro, said: “This collaboration is a key enabler for MAX’s impact agenda for transport operators and commercial drivers in Nigeria. We are committed to providing independent commercial drivers with the solutions to their main pain points and ensuring access to the formal financial system has long been something we wanted to bring to our drivers. We already have more than 500 drivers who have benefited from this partnership. ”

“Financial inclusion is the core of what we do, therefore, working with Max to figure out new age ways to bring access to finance closer to those who need it easily aligns with our ethos. We will facilitate the access of the riders to full banking services which will open these riders up to new opportunities,” the Managing Director of VFD Microfinance Bank, Gbenga Omolokun, said.