In many parts of Africa, motorcycles are the primary mode of transportation for millions of people.
They are essential tools for business, agriculture, and healthcare, allowing people to reach remote areas and transport goods quickly and efficiently.
However, owning a motorcycle can be expensive, and many people struggle to afford the upfront costs.
This is where Movel comes in.
Movel is changing the game in Africa’s mobility fintech space by providing motorcycle financing to entrepreneurs in the logistics and instant delivery industry. Unfortunately, many of these mobility entrepreneurs are unable to afford the cost of a motorcycle or access to financing, which creates a significant barrier to their success and growth.
Founded by a team of fintech enthusiasts, Valerie and Benjamin, Movel recognizes the critical role that mobility entrepreneurs play in driving economic growth and development in Africa. As such, the company has developed innovative solutions that provide access to motorcycle ownership and financing to mobility entrepreneurs who would otherwise be excluded from the market. This is not just about financing, but also about bridging the gap between financial inclusion and mobility, in a $360B mobility market as well as the African market. Through motorcycle financing, Movel is well positioned to be a dominant asset provider in Africa, with the sole aim of offering an initial productive asset to mobility entrepreneurs.
Speaking on the viability of models and solutions by Movel, Benjamin Mebele, the CEO said, “Movel’s innovative financings will help to bridge the gap between motorcycle financing and financial inclusion, and also enable more people to access transportation and logistics services they need to thrive in business. At Movel, we are committed to driving financial inclusion and empowering individuals and businesses across Africa. We believe that everyone should have access to the resources they need to thrive in business, and we are playing our part in making that a reality”.
“At Movel, the process of owning a motorcycle is made simple and hassle-free. The company follows three major procedures which are known as application, verification and driving. The seamlessly accessible procedures enable mobility entrepreneurs to make informed decisions. The financing options are designed to be flexible and accessible, ensuring that every entrepreneur can find a solution that works for them”, he said.
“But Movel’s impact goes beyond just providing financing. The platform is also empowering mobility entrepreneurs by providing them with the tools and resources they need to succeed”, he added.
By leveraging technology and innovation, Movel is providing a solution to a problem that has long hindered the continent’s economic growth. The platform is positively affecting the African mobility sector and is equally a means for mobility entrepreneurs to achieve their aims. This model provides an affordable and sustainable solution for motorcycle financing in Africa, where many people rely on delivery services for their livelihoods.
Valarie Okpagu, who is also a co-founder of Movel, describes Movel as a mission-led company that provides customers with a sustainable pathway to asset ownership via the use of technology.
“Movel’s impact on the African mobility sector has been significant. Since its launch, the platform has helped several mobility entrepreneurs access motorcycle ownership, which has had a ripple effect on their communities. By providing transportation options, these entrepreneurs are able to expand their businesses, reach new customers, and increase their income. This, in turn, has a positive impact on the local economy and helps to promote economic growth and development in Africa” she said.
“Movel’s innovative approach to motorcycle financing and financial services has already made a significant impact in the African market, and the company is poised for even greater success in the coming years. By providing accessible financing and promoting financial inclusion, Movel is helping to create a brighter future for millions of people across the continent”, she added.
Despite playing a vital role in contributing to the development of a $350B African Market, Movel still has a major advantage among other advantages. One of the key advantages of Movel’s approach is that it is helping to bridge the gap between motorcycle financing and financial inclusion in Africa. The company’s solutions are designed to be inclusive, ensuring that entrepreneurs who would traditionally be excluded from the market can access financing and own their motorcycles. Movel has a record of over 160k+ total KMs driven with Movel Financed Motorcycles and over 35k+ total Ride Hailing & E-Logistic Hours in Movel Financed Motorcycles.
Movel is also providing financial services to logistics and instant delivery platforms, which are rapidly growing in Africa. These companies rely on motorcycles to transport goods quickly and efficiently, but many riders struggle to afford the upfront costs of purchasing a motorcycle. Movel’s financing provides these riders with a platform to ride, which improves their earning potential and provides a stable income stream.
Another important aspect of Movel’s business model is its focus on sustainability. The company is committed to reducing carbon emissions and promoting environmentally friendly logistics solutions. By providing financing for motorcycles, Movel will introduce EV motorcycles in the 4th quarter of 2023 to reduce the reliance on fossil fuel-powered cars and trucks, which are a major source of air pollution in Africa.
Inarguably, all of these models and solutions have inevitably set Movel to become one of the leading players in the African transportation and logistics industry, contributing to the growth and development of the sector, while also promoting financial inclusion and economic empowerment.
Since its inception, Movel is striving towards unlocking the economic potential of mobility entrepreneurs, by building a sustainable platform to access motorcycle ownership. The company is on a mission to partner directly with gig economy companies to finance their riders’ purchases of motorcycles.
This is very impressive. The new best thing to happen to our transport and logistics system