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Uber drivers with rave reviews in Kenya to qualify for loans

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Nairobi - Uber drivers in Kenya have an additional incentive to go the extra mile: a local bank is offering them car loans based on how clients rate their service.

Sidian Bank, a closely held Kenyan lender, has set aside 10 billion shillings (R1.55bn) for loans to taxi drivers buying cars to work for the ride-hailing service, CEO Titus Karanja told reporters in the capital, Nairobi. The initiative will expand credit in a country where only 34% of people use credit, according to Kenyan central bank data.

The main requirements to qualify for a Sidian loan are a minimum of 500 trips and an Uber passenger rating of at least 4.6 out five points based on measures that include the driver’s timeliness and attitude.

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