Yabx Partners with Yango and COFINA to Drive Financial Inclusion in Côte d’Ivoire
Yabx Technologies (“Yabx”), a global fintech leader dedicated to addressing the credit gap in emerging markets, has announced a groundbreaking partnership with Yango and COFINA. This collaboration is set to transform the economic landscape in Côte d’Ivoire through their innovative “Driver Cash Advance” program.
This initiative provides gig-economy drivers with instant cash advances of up to USD 500 and flexible repayment terms ranging from 2 to 8 weeks. By addressing a pressing need for accessible and affordable financial services, the program enables drivers to effectively manage their cash flow—whether for vehicle maintenance, fuel, or daily expenses—thereby enhancing their earning potential and financial resilience.
Leveraging its advanced credit-scoring algorithms, Yabx assesses drivers’ risk profiles using alternative data sources. This approach ensures that even individuals with no traditional banking history can access credit. By doing so, Yabx facilitates financial access and empowers drivers to climb the economic ladder.
Yabx’s portfolio—which includes impactful initiatives such as microloans for small businesses and instalment-based education loans—has already demonstrated significant success across multiple African markets.
Yango, a fast-growing ride-hailing platform with a driver base expanding at an impressive 25% compound annual growth rate (CAGR), provides a solid foundation for the program’s scalability. Meanwhile, COFINA, a meso-finance institution with deep roots in Francophone Africa, contributes robust financial backing and local market expertise, making this partnership a perfect trifecta.
This initiative exemplifies the power of strategic partnerships in driving financial inclusion. The partnership not only addresses critical gaps in financial services but also sets a precedent for leveraging innovation to empower underserved communities.
Verdant IMAP is the sole arranger and financial advisor for Yabx in its equity capital raise.