Metro Africa Xpress (MAX) is building Africa's largest mobility-tech platform. Every day, millions of independent commercial drivers across Africa help move people and goods to where they need to be through the use of motorcycles (also known as okadas, boda-bodas or motos), three-wheelers (kekes or tuk-tuks) and cars. Founded in 2015, MAX provides these drivers with a subscription product that ensures they are able to work safely, affordably and in a way that minimizes damage to the environment. Through the subscription, drivers can access fast-growing fleet of low and zero-emission vehicles, which include its revolutionary M3 Electric Motorcycle. Also included is a service bundle that solves their greatest pain-points, including digital wallets, savings products, insurance, maintenance plans and licensing support - so that independent commercial drivers can keep the continent's economy in motion, at an affordable and convenient monthly subscription. MAX's proprietary credit engine leverages alternative data sources to ensure that its product is accessible to both banked and unbanked drivers and users in the formal, informal and gig economies. MAX has raised more than $70 million in equity and debt financing, aimed at powering its expansion across SSA and MENA. To date, MAX has deployed a fleet of 10,000 vehicles, on-boarded more than 20,000 independent commercial drivers, and built a pipeline of 90,000 drivers across its network of 7 cities. The company aims to serve a market of 14 million Drivers across Africa's $250B mobility industry. In the short term, MAX is scaling to 100,000 drivers, across 10 cities and 4 countries.

Purpose

MAX believes that profit and social and environmental inclusion and change are not mutually exclusive. The company is strategically aligned to meet 7 of the United Nation’s Sustainable Development Goals and is on route to become net-zero by 2030, mainly led by the deployment of electrical 2 and 3 wheeled vehicles in our countries of operation.

Adetayo Bamiduro

Chief Executive Officer (CEO), Metro Africa Xpress (MAX)

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We believe it is vital to state clearly to the world the set of our beliefs about Inclusive Capitalism. As such, we start with our Statement of Guiding Principles for Inclusive Capitalism. Knowing that words alone are not enough, each of us is making a series of commitments about how we will operate our institutions so that they help achieve Inclusive Capitalism. These commitments are forward-looking statements based on current goals, expectations and assumptions, which are not guarantees of future performance. For more information, please refer to our Terms of Use

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Summary

MAX will increased the average daily income of our drivers by 3x-4x in 3 countries in Africa by the end of 2022, 8 countries by 2023, and 2 continents by 2024.

Activities & Initiatives

By providing our drivers with additional benefits aside from financing (which they are unable to access on their own), we provide them with additional services that they would not consider buying for themselves otherwise like health insurance, death insurance, permits and registration, emergency support amongst others. Due to this our drivers have increased their daily income by 3x to 4x and in order for them to maintain that we have instituted a financial literacy program to make sure that they not only see that change during the time they work with us but to make sure it goes forward and actually benefits their communities and families.

Measures & Targets

Metro Africa Xpress (MAX) will measure progress by tracking income increased in local economies with a goal of reaching $24 daily per driver from the national average of $5-$6. MAX will increased the average daily income of our drivers by 3x-4x in 3 countries in Africa by the end of 2022, 8 countries by 2023, and 2 continents by 2024.

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