Guiding consumers since 2009

Uber-Wesbank deal

By Alina Hardcastle

According to the reports, last Thursday Alon Lits, regional general manager for Uber in Sub-Saharan Africa, announced at the FNB Franchise Summit that over 600 vehicles have been leased to Uber since the signing of the vehicle financing deal with Wesbank at the end of last year.

The leasing programme which is valued at over R200 million, is a collaboration amongst the internet ride sharing service, Webank and First Rand’s Enterprise Development Fund, Vumela.

Launched in November of last year, the programme offers driver partners access to a specially designed full time maintained lease programme.

Lits stated: “Anyone who has been driving using the Uber app for a reasonable time and has a good earnings and quality record now has the opportunity to acquire a brand new car and start their own business full time.”

He added: “And because the programme developed with WesBank offers rates that are significantly more competitive than these drivers would otherwise have been able to obtain, their business ventures have a far better chance of succeeding in the long term.”

Note that the programme is not based on credit ratings, but rather eligibility which is determined by WesBank based on the drivers established earnings and quality record with Uber. Feedback and five star rating will be taken into consideration for the driver’s quality record.

The goal of this programme is to enable 15,000 new work opportunities for driver partners across South Africa within the next two year.

“Our partnership with WesBank and Vumela is helping us ensure everyone in the transport industry has the opportunity to become an entrepreneur and enjoy the flexibility and enhanced earnings potential, and better quality of life, of being their own boss,” said Lits.

Handy tip: Do you need vehicle finance? You can apply for financing on Justmoney. 

Recent Articles

Featured Raise a deposit for your house in 5 steps

If you’re a first-time home buyer, you could be lucky enough to be  approved for a 100% bond, but if you aren’t, a 10% deposit might be required. This  could be a daunting prospect.  However, a few financial tweaks to your lifestyle and spending habits could get you a foot in the property door and, once you’ve purchased a property, significantly reduce your long-term bond repayments.

Get personal with your finances – and tie the knot

As time passes, your financial products may not live up to your needs. Therefore, it’s important to take stock of what you’re paying for and adjust where necessary. We got in touch with financial advisers to find out how you can get your finances in order, and what you should do to ensure you’re financially stable.

Personal loan or business loan? The best way to finance your business

When starting your own business, you may have to rely on external funding. Perhaps you qualify for a personal loan, but would it be better to take out a business loan instead? We got in touch with a specialist to find out whether it’s best to take out a business loan or a personal loan to assist you with your ongoing business or start-up.

What to do when you’ve been denied a home loan

After months of scanning property sites and attending showhouse after showhouse, you’ve finally found what you’ve been looking for. But your dream of owning a home comes crumbling down when you receive the news that you’ve been denied a home loan. So, what now?


Takealot January Big Sale

Price: Available on request
When: Until 31 January 2020
Where: Online

Annique Restore Package Special

Price: From R600
When: Until 31 January 2020
Where: Centurion

Ster-Kinekor Senior Citizens Discount

Price: Available on request
When: Daily
Where: Nationwide