Moove, a global mobility company, says it will transfer vehicles worth about N35 billion to eligible Nigerian customers as it concludes operations in its founding market.
The company’s Co-founder, Ladi Delano, announced the initiative in a statement made available to Journalists on Thursday in Lagos.
He said eligible Nigerian customers became entitled to full ownership of vehicles financed through the company from Oct. 1, without further payment to Moove.
Delano said the decision was part of the company’s “Thank You Nigeria” initiative to appreciate customers, employees, partners and communities that supported its growth since it was founded in Lagos in 2020.
According to him, more than 9,000 customers have used Moove’s Drive-to-Own and rental products in Nigeria, generating about N57 billion in revenue through Moove-financed vehicles.
“Nigeria is where Moove began, and everything we have built since carries something of Lagos with it,” Delano said.
He said the company’s first customers trusted Moove when it was still an idea, adding that their support helped establish its international operations.
Delano said Moove would also recognise its Nigerian employees as it winds down operations in the country.
He said the company’s growth from 76 vehicles in Lagos to operations across 29 cities globally was made possible by the commitment of its Nigerian team.
Moove said it would work directly with affected customers and employees during the transition, including the transfer of eligible vehicles.
The company was founded by Delano and Mr Jide Odunsi after identifying challenges faced by mobility entrepreneurs in accessing vehicle financing.
Moove began operations with 76 vehicles in Lagos and developed a Drive-to-Own model that enabled mobility workers to access vehicles and eventually own them.
Daily Nigerian/ NAN
