Wynk Limited, a Nigerian technology business, claims to be offering a share ownership system that promises significant income creation for drivers who use the Wynk Super Apps for e-hailing.
The “Captain Share Ownership Scheme” offers the first 5,000 Captains an exclusive opportunity to participate in the share ownership initiative, which aims to reward dedicated and high-performing Captains while fostering loyalty and long-term commitment to the Ride section of the Super App.
Wynk is a Lifestyle Super App that is built on three strategic verticals: Rides (e-hailing, delivery, and public transportation), Payments (for all transactions), and Lifestyle (Social commerce, social media, music, short films, and sports). It is a low-cost solution to everyday problems in financial services and fintech, domestic and cross-border payments, healthcare delivery, education, agribusiness, e-commerce, and many other areas.
Dr. Jerry Igwilo, Chief Executive Officer of the Captain Share Ownership Scheme, briefed newsmen in Lagos on the scheme’s multiple benefits to participating drivers, benefits that eventually improve their financial well-being and create prospects for growth. Participants in the scheme, according to the former investment manager turned internet startup founder, can monetize their shares when wanted, use their shares as collateral for procuring loans, or as collateral for participation in a car ownership scheme.
“This excluesive benefit aims to support Captains in becoming independent car owners, and nurturing their entrepreneurial aspirations,” Dr. Igwilo was quoted as saying by the media. He went on to say, “After 12 months of active participation, Captains can also engage in buying and selling shares from other participating drivers.”
The scheme’s secondary market component allows for increased liquidity and the possibility for Captains to accumulate additional shares over time, making them wealthy. There are three basic conditions that participating drivers must meet in order to enjoy the benefits of the newly launched share ownership plan.
For starters, captains must maintain a minimum average rating of four stars during their first year. Because of the average rating criteria, only Captains who consistently deliver exceptional service to passengers are able to participate. Second, for the first six months, Captains must do more than five rides every day on average. This ride frequency criterion recognizes Captains who actively participate in driving activities and contribute to the platform’s growth.