UBA Partners CIG Motors, LagRide, Launches $100m “Drive to Own” Vehicle Financing Scheme

LagRide Secures USD 100 M Credit Facility To Expand CNG Fleet In Lagos

Lagos-backed ride-hailing platform LagRide has secured a USD 100 M (EUR 95 M) credit facility from United Bank for Africa (UBA) to finance the acquisition of 3,500 vehicles and transition drivers from renters to asset owners over four years. The financing structure allows drivers to bypass prohibitive upfront costs, while the fleet—comprised of compressed natural gas (CNG) vehicles supplied by CIG Motors—aligns with government fuel-cost reductio…

UBA partners CIG Motors, LagRide, launches $100m “Drive to Own” Vehicle Financing Scheme

In a landmark move set to redefine urban mobility and promote financial inclusion in Nigeria, United Bank for Africa (UBA) Plc has announced a $100 million financing partnership scheme with CIG Motors, LagRide and Lagos State Government. By the partnership, tagged “Drive to Own”, UBA will be the key financier, offering loan subscriptions that will […] The post UBA partners CIG Motors, LagRide, launches $100m “Drive to Own” Vehicle Financing Sche…

UBA Teams Up With CIG Motors And LagRide To Make Car Ownership Easier With $100M Financing Plan

In a landmark move set to redefine urban mobility and promote financial inclusion in Nigeria, United Bank for Africa (UBA) Plc, has announced a $100 million financing partnership scheme with CIG Motors, LagRide and Lagos State Government. By the partnership, tagged “Drive to Own”, UBA will be the key financier, offering loan subscriptions that will allow beneficiaries to own a CIG/LagRide vehicle by contributing an equity payment of just 10% of …

UBA, CIG Motors, LagRide In $100m Vehicle Financing Scheme

United Bank for Africa (UBA) Plc has entered into a $100 million vehicle ownership financing partnership with CIG Motors, LagRide, and the Lagos State Government to transform urban mobility and boost financial inclusion in Nigeria. Under the “Drive to Own” pact, UBA will serve as the main financier, providing loan plans that let beneficiaries own a CIG/LagRide vehicle by making an equity payment of only 10 per cent of the total cost, with the ba…

UBA Unveils $100m "Drive To Own" Vehicle Financing Partnership With CIG & LagRide

UBA Unveils $100m “Drive To Own” Vehicle Financing Partnership With CIG & LagRide In a landmark move set to redefine urban mobility and promote financial inclusion in Nigeria, United Bank for Africa (UBA) Plc, has announced a $100 million financing partnership scheme with CIG Motors, LagRide and Lagos State Government. By the partnership, tagged “Drive to Own”, UBA will be the key financier, offering loan subscriptions that will allow beneficiar…

Lagride Secures $100 Million UBA Financing Facility to Expand its Drive to Own Programme - Tech

Lagride has secured a 100 million dollar financing facility from United Bank for Africa to expand its Drive To Own programme and enable 3,500 Lagos drivers to transition from daily earners into long-term asset owners, business operators and mobility investors. The partnership strengthens Lagos State’s transportation ecosystem and accelerates the shift toward a structured, technology-enabled and financially bankable mobility sector. Over the past…