Yango Ethiopia has recently announced the signing of a Memorandum of Understanding (MoU) between G2G IT Solutions S.C.—the local operator of Yango—and Amigos SACCO, Ethiopia’s microfinance institutions. The partnership aims to roll out a first-of-its-kind electric vehicle (EV) financing program under Yango Cares, an initiative dedicated to improving the lives of Yango’s partner drivers.

The new program is designed to make car ownership a reality for up to 100 Yango drivers, most of whom currently rent vehicles. Over the next 17 months, six drivers per month will receive access to brand-new electric vehicles, supported through tailored financing solutions from Amigos SACCO. Driver eligibility will be based on performance metrics and platform engagement.

“This program isn’t just about mobility, it’s about transformation,” said Dr. Yekenalem Abebe, representative of Yango. “We believe every driver who contributes to our platform deserves the opportunity to grow with it. This partnership opens the door to new economic possibilities.”

For Ethiopia’s ride-hailing community, the lack of affordable vehicle financing has long been a roadblock to economic self-reliance. With this new model, drivers will receive more than just financing—they’ll gain access to financial literacy training, vehicle maintenance guidance, and repayment plans designed around their income patterns.

“Through this initiative, Yango is lowering the barriers that prevent drivers from building long-term value,” said Mr. Tedros Mehari, CTO of G2G IT Solutions S.C. “We are fostering an ecosystem where success is shared.”

Amigos SACCO sees the partnership as a step toward aligning cooperative finance with Ethiopia’s evolving urban economy.

“By working with Yango, we’re addressing a critical financing gap and helping drivers take charge of their financial future,” said Mr. Birhanu Reesom, Executive Office Director at Amigos. “This shows how cooperatives can drive innovation in emerging sectors.”

The program also supports Ethiopia’s climate goals by transitioning participating drivers to clean-energy vehicles. In addition to reducing urban emissions, the EVs promise passengers quieter, safer, and more comfortable rides.