Yango’s In-App Loans Aim to Empower Côte d’Ivoire’s Gig Drivers

Gig workers in Côte d’Ivoire just got a helping hand from Yango, the Russian ride-hailing app. In collaboration with COFINA, a leading microfinance institution, and Yabx, a fintech platform specializing in credit solutions, Yango has launched a new loan service designed exclusively for its drivers.

The Driver Cash Advance feature allows drivers to access loans of up to 300,000 CFA (approximately $500) directly through the app. With flexible repayment terms ranging from two to eight weeks, this service aims to ease financial pressures and support drivers in expanding their income streams.

Kadotien Soro, Yango’s Country Manager for Côte d’Ivoire, explained that the initiative is part of Yango’s commitment to empowering its driver community. “We’re focused on helping our drivers achieve their goals without the usual financial headaches,” she said.

Using AI to Drive Financial Inclusion

Access to traditional bank loans has long been a challenge for Africa’s gig workers, often considered too risky by financial institutions due to irregular income streams. Yabx’s AI-powered technology bridges this gap by assessing creditworthiness through drivers’ digital activity, enabling even those without a formal credit history to qualify for loans.

This innovation mirrors Moove’s 2022 strategy, which tailored loans to gig workers’ earnings data, and marks another step forward in redefining financial accessibility for Africa’s informal workforce.

What’s Next for Gig Economy Financing?
Yango’s loan initiative could set a new benchmark for how ride-hailing platforms engage with their driver communities. By providing flexible, AI-driven financing options, the app addresses immediate cash flow issues and opens doors to long-term financial empowerment.

As Yango continues to expand its operations across Africa, this move could reshape how gig workers access credit, paving the way for a more inclusive financial future.