NIGERIA – Moto Business Service Nigeria (MBSN), a subsidiary of Japan’s Yamaha Motor Corporation has announced a strategic partnership with Metro Africa Xpress Inc. (MAX) - Africa’s first mobility technology platform to finance and maintain over 50,000 vehicles over the next 2 years. The partnership will expand Max’s operations in Nigeria, Ghana and Cameroon and fast track their goal to serve 100,000 independent commercial drivers by the end of 2023.
MBSN provides services for tech startup companies that focus on the shared mobility space in Africa. MBSN will provide financing options to enable independent commercial drivers who are on MAX’s platform to access a range of vehicles for commercial use. The deal will also provide the drivers with the opportunity to access two, three and four-wheeler vehicles (including Electric Vehicles), as well as a suite of additional services, all through a single affordable subscription. MBSN’s mission is to increase the usage of vehicles on shared/rental platforms, create employment opportunities and contribute towards improving people’s quality of life across Africa, with a keen focus on maintaining a cleaner and greener environment in the country.
The agreement was announced during a corporate meeting between Yamaha Motor Corporation’s leadership team at the MAX office in Eleyele, Ibadan in Oyo State, Nigeria.
Adetayo Bamiduro, Co-Founder and Chief Executive Officer at MAX, said: “We are extremely thrilled to partner with MBSN and the Yamaha Motor Corporation. It demonstrates our shared commitment to democratizing access to vehicle subscriptions, and enabling entrepreneurs across Africa to unleash development by moving people and goods safely and reliably from point A to point B. This collaboration will enable MAX to significantly accelerate our goal of serving 100,000 independent commercial drivers across Africa by the end of 2023.”
Mr. Shoji Shiraishi, Fellow at Yamaha Global said, “We are extremely excited to officially launch MBSN in Africa by kick starting our operations with MAX. We will onboard vehicles across multiple cities and generate employment avenues for the youth of the African subcontinent. We plan to work with more mobility companies in the future and to transform the overall shared mobility space in Nigeria and Africa, by bringing our financial and strategic experience from our stakeholders.”
Founded in 2015 by Adetayo Bamiduro and Chinedu Azodoh, MAX’s mission is to disrupt Africa’s transportation sector via smart technologies. Its core product consists of a subscription service that enables independent commercial drivers to access a low-to-zero emission vehicle, as well as an array of value-added services, including vehicle and health insurance, licensing support and service plans.
Through MBSN, Japan’s Yamaha Motor Corporation brings to market a broad range of quality vehicles and genuine parts, as well as best-in-class maintenance facilities and workshops. Yamaha’s MBS model is currently deployed in 6 countries around the world.
MAX is building the largest vehicle subscription and financial services platform for transport operators and drivers across Africa. MAX’s proprietary technology enables informal Drivers with no banking history to access vehicles (including electric vehicles), insurance, digital wallets, and e-Hailing services on a subscription basis.
The subscription product includes credit and OEM services that drivers opt into. MAX developed a proprietary credit engine that uses alternative data to provide credit scores and vehicle subscriptions to both banked and unbanked gig-economy drivers.
More information can be found at https://www.maxdrive.ai/
About Yamaha Motor Corporation
Yamaha Motor is a world-leading enterprise known for its products for land mobility, such as motorcycles, all-terrain vehicles, and electrically power-assisted bicycles, marine products, such as boats and outboard motors, and industrial machinery and robots, such as surface mounters and drones.
Yamaha Motor conducts development, production, and sales through a network of 140 subsidiaries and equity-method affiliates in 30 countries and regions. MBSN is a wholly owned subsidiary of Yamaha Motor Corporation.
Moto Business Service Nigeria Private Limited is a mobility solution company that functions on asset management and service. The company was established in March 2021 and its shareholders of the company include Yamaha Motor Co., Ltd, Japan and Yamaha Motor Biz Partner Co., Ltd, Japan. Yamaha Motor (TOKYO: 7272) is a world-leading enterprise manufacturing land-mobility such as motorcycles, all-terrain vehicles, and electrically power assisted bicycles, marine products such as boats and outboard motors, robotics products such as surface mounters and drones, as well as engagement in the finance business. The company’s diverse businesses and wide variety of products are built around its proprietary technologies focused on powertrain, chassis and hull, electronic control, and manufacturing technologies. Yamaha Motor operates global development, production, and sales networks through 140 subsidiaries and equity-method affiliates in 30 countries and regions, working to realize our Corporate Mission of being a “Kando* Creating Company.”
*Kando is a Japanese word for the simultaneous feelings of deep satisfaction and intense excitement that we experience when we encounter something of exceptional value.
More information can be found at https://www.yamaha-motor.com