By paying €15 daily, cab drivers can become owners within 48 to 60 months.

Cmontaxi is a digital solution developed by a Senegalese eponymous startup, founded in 2015. It allows cab drivers to become car owners within a given time frame. 

"With an average monthly salary of €600, cab drivers] don’t earn enough to be able to access traditional bank loans or the car manufacturers’ leasing packages,” says Aziz Senni, founder and CEO of Cmontaxi. 

The package set up by Cmontaxi includes lease-purchase, maintenance, and insurance agreements. Drivers have to pay €15 daily and become owners within 48 and 60 months. The amount is about 10% lower than the price drivers have to pay for other lease-purchase agreements. This is probably why the startup also uses the cabs as advertising media.  

Its stated goal is to improve its drivers’ living standards by making transforming them into entrepreneurs, not just cab drivers. "I decided to allow these drivers to become cab owners without upfront payment, give them micro-business management training and help them reduce their insurance and maintenance costs,” Aziz Senni explains.

With its booking platform, the startup allows its drivers to boost their revenues. Cmontaxi also set up "Taxishop", a concept that allows drivers to increase their revenues by offering additional products and services on board their taxis. 

Adoni Conrad Quenum