E-Business
Moove Rolls into Kenya, Broadens Vehicle Financing to Bikes and Trucks
![](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2021/12/Moove-Logo.jpg)
Moove, an African mobility fintech, has launched operations in Nairobi, its first city in East Africa and sixth on the continent. To expand their vehicle and product offerings to customers, the revenue-based vehicle financing company has partnered with Uber to allow ride-hailing and delivery drivers to purchase motorcycles for Uber Connect, UberEats deliveries and UberBoda trips.
In addition, following its recent partnership with pan-African e-logistics platform Lori Systems, Moove has expanded its logistics vehicle offering with Kenyan fulfilment and last-mile logistics company Sendy.
Entering the East African market allows Moove to drive closer to its goal of democratizing vehicle ownership by providing revenue-based vehicle financing across Africa.
With Kenya’s lending costs almost twice that of South Africa’s and the average loan deposit standing at 10% – 30%, affordability is still an issue for entrepreneurs who lack a credit history, a typical financing hurdle on the continent.
Moove will use the market opportunity to enable drivers to leverage its alternative credit-scoring technology and gain access to brand new vehicles which creates more good job opportunities within the mobility industry.
Commenting on the expansion, Co-Founder and CEO of Moove, Ladi Delano said: “Kenya already has a thriving mobility and entrepreneurial industry for us to tap into and roll out our financing solutions, so we’re very excited to be launching into Nairobi, our sixth market in 18 months.
As one of the biggest economies across Africa, our move into Kenya serves as a gateway to other East African markets. We are excited to continue our expansion, having achieved over 50%+ MoM growth since launch”
“Moove recently received the IFC Corporate Award, as one of the top 20 most impactful and transformational companies in their portfolio that is applying an innovative and scalable solution towards solving a continent-wide problem.
This further validates that our model is really working, in getting customers to the virtuous path of vehicle ownership, and by doing so, we are creating employment and income opportunities for these mobility entrepreneurs.”
On the back of the recent launch of its first two-wheeler bike product, Moove Xpress, in Lagos, Moove is expanding the new vehicle class to East Africa.
As a result of the partnership with Uber, drivers in Nairobi will have access to Moove Xpress bikes for UberConnect (peer to peer delivery), UberBoda trips and UberEats food deliveries. Drivers will be empowered by Moove’s vehicle financing solution, which gives them the flexibility to increase their earnings and productivity.
Currently estimated at $80bn, the two-wheeler hailing market in Sub-Saharan Africa is plagued by a lack of access to new vehicles as well as a lack of regulation for both drivers and riders.
Moove is growing its reach in East Africa, in order to increase asset ownership of brand new motorbikes while ensuring regulatory compliance in the sector, ultimately leveraging ride-hailing and delivery apps to boost revenue.
In addition, Moove has also signed a new partnership with Sendy, a Series B end-to-end logistics, retail and freight company. The Sendy partnership expands Mooves logistics vehicle offering following its recent partnership with Lori Systems to fuel the growth of Africa’s trucking and logistics industry.
Lack of financing for Africa trucking stands at less than 1%, acutely illustrating the size of the market opportunity for Moove in solving the problem of access to vehicle financing on the continent and addressing a similar supply constraint faced by many mobility and ride-hailing marketplaces.
With the launch in Kenya, Tayo Oyegunle, Chief Operations Officer, states, “The team and I are proud to be bringing financial inclusion to mobility entrepreneurs in Nairobi, Kenya.
We’re offering flexible employment through revenue-based financing, thus empowering drivers and driving growth in Africa’s mobility industry, underlined by our commitment to ensure that 50% of our customers are female.
The Uber, Sendy and Lori System partnerships will also allow us to enter the market with a substantial range of products and services for mobility entrepreneurs to take advantage of by moving people, goods and services.”
Co-founded in 2019 by serial entrepreneurs, Ladi Delano and Jide Odunsi, Moove provides asset-backed vehicle financing by embedding its alternative credit-scoring technology onto ride-hailing and e-logistics platforms.
Moove offers loans to customers by selling them new vehicles and financing up to 95% of the purchase price within five days of signing up.
Customers can choose to repay their loans over 12, 36, 48, or 60 months, paying a percentage of their weekly income through the Moove app, which manages all transactions and provides access to other financial products on the platform. To date, Moove-financed cars have completed over 1.6 million trips with over 20 million kilometres travelled across its markets.
E-Business
Schmidt, Ex Google Chief Says AI Risky in Terrorist Hands
![](https://www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2025/02/Eric-Schmidt.jpg)
Eric Schmidt, former Google CEO has expressed concerns about the extreme risks posed by artificial intelligence (AI) falling into the hands of terrorists or rogue states.
![Schmidt, Ex Google Chief Says AI Risky in Terrorist Hands](https://i0.wp.com/www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2025/02/Eric-Schmidt.jpg?resize=573%2C254&ssl=1)
Eric Schmidt, former Google CEO
He warned that nations such as North Korea, Iran, and Russia could adopt AI technologies to develop weapons capable of causing significant harm, including biological weapons.
Schmidt urged governments to oversee private tech companies, emphasising, “The real fears I have are not the ones most people discuss about AI, I talk about extreme risk.”
“I’m always worried about an ‘Osama Bin Laden’ scenario, where truly evil individuals take control of some aspect of modern life to harm innocent people,” he added.
With private companies driving AI advancements, he stressed the need for careful government monitoring and regulation. “It’s really important that governments understand what we’re doing and keep their eye on us,” he said.
His remarks followed a two-day AI summit in Paris, where the UK and the U.S. declined to sign a communiqué outlining the future direction of AI. The declaration on “inclusive and sustainable artificial intelligence for people and the planet” was endorsed by 57 countries, including India, China, the Vatican, the EU, and the African Union Commission.
The UK justified its decision, stating that the agreement lacked “practical clarity” on global AI governance and national security concerns.
Schmidt supports U.S. export controls restricting the sale of advanced AI microchips to certain countries, aiming to slow adversaries’ progress in AI research.
He also highlights the importance of international collaboration on AI safety, suggesting that cooperation with nations like China is essential to addressing global AI challenges.
E-Business
OpenAI CEO Rejects $97.4Bn Takeover Bid from Elon Musk
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Sam Altman, chief executive of ChatGPT-owner OpenAI, has firmly declared the company “not for sale” following a $97.4bn (£78.4bn) takeover bid from a consortium led by Elon Musk.
![OpenAI CEO Rejects $97.4Bn Takeover Bid from Elon Musk](https://i0.wp.com/www.nigeriacommunicationsweek.com.ng/wp-content/uploads/2022/04/Elon-Musk.jpg?resize=563%2C229&ssl=1)
Elon Musk
Speaking at the AI Action Summit in Paris, Altman emphasised OpenAI’s mission to develop AGI (artificial general intelligence) for the benefit of humanity.
Marc Toberoff, attorney for Elon Musk, confirmed the bid submission on Monday.
In response, Altman humorously offered to buy Twitter for $9.74 billion on Musk’s platform.
Unlike many tech giants, OpenAI is not publicly traded but operates through a complex partnership between non-profit and for-profit entities.
Musk aims to return OpenAI to its non-profit roots, despite owning a rival firm, xAI.
Christie Pitts, a tech investor, expressed scepticism about Musk’s intentions, noting his competitive interests.
Altman echoed this sentiment, suggesting Musk’s move disregards OpenAI’s mission.
Altman, who holds no stock in OpenAI, advocates transforming the organisation into a fully for-profit company to raise more funds for AI research.
Although the board has the final say, the $97.4bn offer falls short of OpenAI’s previous $157bn valuation and rumoured $300bn in future funding talks.
Toberoff stated the consortium might increase their bid. Meanwhile, OpenAI is collaborating with Oracle, a Japanese investment firm, and an Emirati sovereign wealth fund on “The Stargate Project,” a $500 billion AI infrastructure initiative announced by President Donald Trump.
E-Business
Adobe Launches AI Video Tool to Compete with OpenAI
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Adobe yesterday released the first public version of an artificial intelligence tool that can generate video clips and revealed how much it will charge, but said it will not set pricing for major users such as studios until later this year.
The Firefly Video Model, as Adobe is calling the service, will compete against Sora, a model developed by ChatGPT creator OpenAI, and startup Runway, both of which currently offer video-generation services. Facebook owner Meta Platforms has also developed a video-generation AI model but has not given a timeline for when it will be released.
Adobe’s model differs from its rivals because it is geared toward generating clips that will fit into how film and television studios use Premiere Pro, its flagship video editing software.
To that end, many of the features that Adobe is emphasizing revolve around feeding existing shots into the video model and asking it to generate clips that fix or expand on shots that were taken on a real production set but that did not come out quite right.
Adobe said the service will generate five-second clips at 1080p resolution. While that is shorter than the clips of up to 20 seconds generated by OpenAI’s service, Adobe executives said the majority of individual clips in most productions are only three seconds.
Adobe said a user can generate 20 clips per month for $9.99 and 70 clips for $29.99. That compares with 50 videos for $20 per month with OpenAI’s plan at lower resolution and a $200 OpenAI plan that can handle longer, higher resolution videos.
Adobe is also working on a “Premium” pricing plan for studios and other high-volume video users and will release those pricing details later this year. Alexandru Costin, Adobe’s vice president of generative AI, said the company is working to generate 4K video and will remain focused on quality rather than longer clips.
“We actually think that great motion, great structure, great definition scheme, making the actual clip look like it was film, is more important than making a longer clip that’s unusable,” Costin told Reuters.
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