Uber partners with Old Mutual to offer driver-partners financial management skills
Uber partner drivers are set to benefit from a training organized by UAP Old Mutual. The financial services group is planning to equip Uber drivers with basic financial management skills through this training.
The transport company has partnered with Old Mutual in a bid to extend its free money management course to its Kenyan driver-partners.
The idea was first implemented in South Africa but has so far been extended to Ghana, Kenya, and Nigeria.
Old Mutual offers long-term savings, protection, investment, and lending solutions. The company was founded in 1845 and operates in 18 countries across Africa, Latin America, and Asia.
The course is part of the Global Money Week and its theme is Learn, Save, and Earn. The Global Money Week highlights the importance of money management skills.
What’s in it for Uber Drivers?
The drivers will be expected to attend the “On the Money” workshops at scheduled times.
Driver partners will be equipped with financial management skills to grow their income and save for the future. They will also learn how to build sustainable businesses. This will translate into healthy saving habits, basic money principles, and general financial well-being.
The course will also enable driver-partners to understand financial needs and this will then lead to financial wellness. They will be able to make financial decisions from a point of knowledge.
The Head of Financial Education at Old Mutual John Manyike was quoted saying that the financial institution was excited to be part of this partnership. He added that they were committed to helping driver partners make the most of their hard-earned money.
Manyike further said that small businesses are important to an inclusive economic growth in Africa and that this growth and success benefits all. In addition, he noted that the partnership with Uber enables the company to promote financial management skills across Africa.
The partnership with Old Mutual was also welcomed by Uber Sub-Saharan Africa General Manager Alon Lits who said that the training would empower driver partners to raise capital for future investments.
Lits went on to add that the partnership will foster skills that Uber driver partners need to grow their small businesses and at the same time support their families financially. He further expressed Uber’s commitment to the growth of both the transport sector and in the development of entrepreneurs.
Uber seems committed to empowering its driver partners and this can be proved by the kind of partnerships it has formed. One good example is the partnership with Sidian Bank to launch a vehicles solutions programme that gives driver-partners easy access to quality vehicles for their Uber-based transport services.
Drivers who wish to be part of the training can apply online.
Statistics on SMEs
A recent study by Invest In Africa (IIA) and Strathmore Business showed that more than 70% of SME’s in Kenya fail within the first three years of operation due to failure to grow.
The findings further attributed this failure to lack of planning. It was found that 30% of these businesses do not have a proper plan of running the business.
SMEs are an important part of the economy as the Kenya National Bureau of Statistics (KNBS) notes that they provide employment to half of the Kenyan workforce.