Yango, Yabx, and COFINA Team Up to Launch In-App Lending in Côte d’Ivoire

Yango Côte d’Ivoire, a subsidiary of Yango Group, has partnered with COFINA, a prominent mesofinance institution, and Yabx, an embedded finance platform, to introduce the “Driver Cash Advance” service. This innovative digital lending solution offers Yango’s partner drivers immediate access to cash advances of up to XOF 300,000 (USD 500) with flexible repayment terms of two to eight weeks. While initially targeting partner drivers, plans are underway to extend the service to riders, food delivery agents, and merchants.

The partnership aims to improve financial access for underserved segments, enabling drivers to manage cash flow and invest in their businesses. Kadotien Soro, Yango Côte d’Ivoire’s Country Manager, emphasized the initiative’s role in empowering entrepreneurs: “We are excited to partner with COFINA and Yabx to support our community. By providing this lending service, we empower drivers to achieve their goals and grow their businesses.”

Yango, operating in over 30 countries, including Côte d’Ivoire, Zambia, and Ghana, has become a trusted platform, managing millions of monthly rides and deliveries. With its growing user base, the company continues to strengthen financial inclusion efforts in emerging markets.

At the heart of this initiative is Yabx’s cutting-edge Lending-as-a-Service platform, which uses AI to build credit profiles for borrowers lacking traditional credit histories. By integrating lending services into the Yango app, Yabx enables drivers to access funds instantly, simplifying the borrowing process. Puneet Chopra, Yabx’s Chief Growth Officer, highlighted the partnership’s impact: “Embedded lending transforms credit access in underserved regions, fostering a sustainable gig economy across Africa.”

COFINA, a leader in mesofinance across West and Central Africa, plays a critical role in providing the financing for this project. The institution reaffirms its dedication to financial inclusion by supporting small and medium-sized enterprises and entrepreneurs. Amed Sié Touré, Managing Director of COFINA Côte d’Ivoire, remarked, “This partnership advances inclusive economic growth and strengthens the digital economy in Côte d’Ivoire.”

By leveraging AI, data-driven lending models, and simplified processes, this collaboration introduces formal credit access to those often overlooked by traditional financial institutions. This initiative not only bolsters the financial stability of Yango’s drivers but also contributes to a more inclusive and resilient gig economy across Africa. Yango, Yabx, and COFINA are paving the way for innovative financial solutions that empower individuals and businesses to thrive.

//Staff writer