{"id":92531,"date":"2025-12-22T16:16:41","date_gmt":"2025-12-22T16:16:41","guid":{"rendered":"https:\/\/www.africa-press.net\/gambia\/uncategorized\/lagride-secures-100m-credit-facility-for-vehicle-acquisition"},"modified":"2025-12-22T17:41:53","modified_gmt":"2025-12-22T17:41:53","slug":"lagride-secures-100m-credit-facility-for-vehicle-acquisition","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/gambia\/all-news\/lagride-secures-100m-credit-facility-for-vehicle-acquisition","title":{"rendered":"Lagride Secures $100M Credit Facility for Vehicle Acquisition"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; Gambia. <\/strong><\/span><b>Lagos-backed ride-hailing platform LagRide has secured a USD 100 million (approximately EUR 95 million) credit facility from United Bank for Africa (UBA) to fund the acquisition of 3,500 vehicles and support a four-year plan to transition drivers from rental arrangements to vehicle ownership.<\/b><\/p>\n<p>Under the financing structure, drivers are able to avoid the high upfront costs that have traditionally limited access to vehicle ownership. The fleet, made up of compressed natural gas (CNG) vehicles supplied by CIG Motors, also aligns with the Lagos State Government\u2019s broader objectives around fuel-cost reduction and cleaner energy adoption within the transport sector.<\/p>\n<p>The development strengthens LagRide\u2019s position as a state-backed alternative to private ride-hailing operators such as Uber and Bolt, particularly at a time when Lagos regulators are increasing compliance and operational requirements for e-hailing platforms.<\/p>\n<p>With the Lagos State Government operating both as regulator and market participant, the UBA-backed facility represents a notable escalation in the city\u2019s mobility landscape and signals an ambition to compete at scale with well-capitalised players such as Moove.<\/p>\n<p><strong>For More News And Analysis About <span style=\"color: #ff6600\">Gambia<\/span> Follow <span style=\"color: #ff6600\">Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; Gambia. Lagos-backed ride-hailing platform LagRide has secured a USD 100 million (approximately EUR 95 million) credit facility from United Bank for Africa (UBA) to fund the acquisition of 3,500 vehicles and support a four-year plan to transition drivers from rental arrangements to vehicle ownership. Under the financing structure, drivers are able to avoid [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":92530,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,9],"tags":[260],"class_list":["post-92531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-miscellaneous","tag-gambia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Lagride Secures $100M Credit Facility for Vehicle Acquisition - Gambia<\/title>\n<meta name=\"description\" content=\"Lagos-backed ride-hailing platform LagRide has secured a USD 100 million (approximately EUR 95 million) credit facili ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/gambia\/all-news\/lagride-secures-100m-credit-facility-for-vehicle-acquisition\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lagride Secures $100M Credit Facility for Vehicle Acquisition\" \/>\n<meta property=\"og:description\" content=\"Lagos-backed ride-hailing platform LagRide has secured a USD 100 million (approximately EUR 95 million) credit facili ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/gambia\/all-news\/lagride-secures-100m-credit-facility-for-vehicle-acquisition\" \/>\n<meta property=\"og:site_name\" content=\"Gambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2025-12-22T16:16:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-22T17:41:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2025\/12\/sm_1766412633.049529.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"450\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/lagride-secures-100m-credit-facility-for-vehicle-acquisition#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/lagride-secures-100m-credit-facility-for-vehicle-acquisition\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Lagride Secures $100M Credit Facility for Vehicle Acquisition\",\"datePublished\":\"2025-12-22T16:16:41+00:00\",\"dateModified\":\"2025-12-22T17:41:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/lagride-secures-100m-credit-facility-for-vehicle-acquisition\"},\"wordCount\":190,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/lagride-secures-100m-credit-facility-for-vehicle-acquisition#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2025\/12\/sm_1766412633.049529.jpg\",\"keywords\":[\"Gambia\"],\"articleSection\":[\"all news\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/gambia\/all-news\/lagride-secures-100m-credit-facility-for-vehicle-acquisition#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/lagride-secures-100m-credit-facility-for-vehicle-acquisition\",\"url\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/lagride-secures-100m-credit-facility-for-vehicle-acquisition\",\"name\":\"Lagride Secures $100M Credit Facility for Vehicle Acquisition - 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