Gozem, a company that offers drivers, retailers, and other consumers a suite of mobility, e-commerce, and financial services, has established a partnership with the International Financial Commission (IFC) to alleviate these issues.
The IFC has committed $10 million to Gozem’s auto finance scheme to finance 6,000 vehicles in Togo and Benin.
This agreement comes six months after Gozem completed a $5 million funding round and 14 months after the company began its vehicle lending service.
“We are excited that IFC has placed their trust in Gozem to be at the forefront of offering affordable financing solutions to these underprivileged regions,” Gregory Costamagna, co-founder and co-CEO of Gozem, said in a statement.
“Electric cars have the potential to revolutionize the moto-taxi sector in West and Central Africa by cutting carbon emissions and lowering operating costs for drivers,” said Aliou Maiga, IFC’s Regional Director for West and Central Africa.
According to the company, it has already assisted over 2,000 drivers in obtaining vehicles with affordable financing. This new cooperation will provide funding for 6,000 additional drivers to purchase new automobiles.
Gozem will be able to provide inexpensive automobile financing in its operating areas of Togo and Benin as a result of this investment.