Uber signs $14M car rental deal with South Africa's WesBank

Online taxi-hailing service Uber has agreed a 200 million rand ($14 million) deal with South African vehicle finance provider WesBank to rent cars to drivers who can’t afford to buy them, the companies said on Tuesday.

WesBank, which is an arm of lender FirstRand, will rent cars to Uber drivers who do not qualify for traditional car loans due to a lack of credit history.

Around half of car loan applications are declined in South Africa, WesBank chief executive Chris de Kock told a news conference.

Read more: Uber signs $14 mln car rental deal with South Africa’s WesBank | Reuters