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By Chinenye Anuforo
A Nigerian technology company, Wynk Limited, is offering a fantastic share ownership scheme that promises a big deal of wealth for drivers using the Wynk Super apps for e-hailing.
The scheme, tagged “Captain Share Ownership Scheme,” presents an exclusive opportunity for the first 5,000 captains to participate in the share ownership initiative that 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 built on three strategic verticals which are Rides (e-hailing, deliveries, and public transportation), Payments for all transactions, and Lifestyle (Social commerce, social media, music, short films and sports.
It Is a cost-effective solution to everyday challenges ranging from financial services and fintech, domestic and cross-border payments, healthcare services delivery, education, agribusiness, e-commerce, and lots more.
Briefing newsmen in Lagos on the Captain Share Ownership Scheme, the Chief Executive Officer, Dr. Jerry Igwilo, disclosed numerous benefits to participating drivers, benefits that ultimately enhance their financial well-being and offering opportunities for growth.
According to the former investment manager turned tech startup founder, participants in the scheme can monetize their shares when desired, utilize their shares as collateral for securing 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 told news men.
He added that “After 12 months of active participation, Captains can also engage in buying and selling shares from other participating drivers.”
Through this secondary market feature, the scheme allows for enhanced liquidity and the potential for Captains to acquire additional shares over time, and thus become richer.
To be eligible for the share ownership scheme which just kicked off, there are three simple conditions that participating drivers must comply with in order to enjoy these benefits.
First, Captains must maintain a minimum average rating of 4 stars for the first year. This average rating requirement ensures that only Captains who consistently provide excellent service to passengers are eligible for participation.
Secondly, Captains are required to complete more than an average of 5 rides per day for the initial 6 months. This ride frequency criterion highlights Captains who proactively engage in driving activities and contribute to the growth of the platform.
Furthermore, Captains must maintain an average of 10 rides per day for the subsequent six months. This ride consistency condition emphasizes the importance of continued commitment and productivity in order to benefit from the share ownership scheme.
“By providing them with the opportunity to own shares in our platform, we aim to foster a sense of ownership, loyalty, and pride in a Nigerian startup. We believe that this program will not only benefit our Captains but also bolster the overall growth and success of the Wynk Super App platform,” said the Chief Executive.
On what makes the Wynk Super App unique, Dr. Igwilo explained that unlike most existing apps which are limited in scope, Wynk Lifestyle Super App was uniquely designed to make life easier for all classes of users, providing solutions to the pain points of users. He described it as a convenient hold-all for Rides, Payments for all transactions, and Lifestyle.
When asked if the App can also serve people without bank accounts, Igwilo, replied “yes, we made sure in our conceptualisation of the App that we are providing solutions to the pain points of our users and we are Proudly Nigerian.”
