For years now, Maridady Motors, under the leadership of Erick Ngigi, has successfully run an investment model known as Smart Cab—a structured leasing plan that enables individuals to earn monthly income from vehicles leased out to vetted third parties.
The model has attracted both local and diaspora investors seeking consistent returns without the usual responsibilities of car ownership.
The model has attracted both local and diaspora investors seeking consistent returns without the usual responsibilities of car ownership.
The Smart Cab model involves an investor committing funds, typically from Ksh 1,000,000, which Maridady Motors uses to purchase a vehicle. This vehicle is then leased out to pre-screened clients, including Uber drivers and private vehicle users, through a structured repayment system.
The investor, in return, receives monthly payments generated from the leasing agreement.
Unlike traditional asset-based investments, Smart Cab is structured as a financial-based model. By default, the vehicle is not registered in the investor’s name—removing the burden of insurance, servicing, and maintenance.
However, investors can choose to have the vehicle registered in their name after full payment is received, though this comes with the added responsibility of handling insurance.
Investors receive a monthly payout of Ksh 37,500, which includes both a portion of the invested capital and profit.
“The Ksh 37,500 you receive monthly is made up of two parts—Ksh 25,000 is a return of your capital, and Ksh 12,500 is profit. This means you’re gradually recovering your investment while earning at the same time.” Ngigi breaks this down
Over 12 months, you receive a total of Ksh 450,000, and after 24 months, that amount grows to Ksh 900,000. But that’s not all.
“At the end of the two-year period, we also pay you a residual value of Ksh 400,000, which represents 40% of your initial investment,” Ngigi said adding that the residual value reflects the worth of the vehicle after two years of use.
Maridady Motors ensures that only qualified clients receive vehicles under this program.
Before a car is leased out, clients must provide a security deposit ranging between 20% and 50%, depending on their creditworthiness and history with the company. This layer of screening and deposit collection helps protect both the business and the investors.
For those interested in continuing their investment after the initial term, Maridady Motors offers flexible options.
An investor may choose to reinvest the Ksh 400,000 residual value and top it up with an additional Ksh 600,000 to begin a new investment cycle of Ksh 1,000,000.
If the investor chooses to exit, they are required to issue a 90-day notice before the end of the contract, after which the final payout and remaining capital are released.
In addition to Smart Cab, Maridady Motors runs another model called Import to Sale.
Under this plan, an investor commits capital, also starting from Ksh 1,000,000, which is used to import and sell vehicles. The return on investment remains at 15% annually, but payout structures can vary based on the investor’s preference.
For example, investors who opt to receive their profit annually rather than monthly may receive a higher rate of return.
Maridady Motors has also ventured into green mobility. The company has partnered with a Chinese manufacturer to introduce smart leasing for electric boda bodas (e-bikes). This offers a lower investment threshold while still generating steady income.
“With an investment of Ksh 250,000, you can earn Ksh 9,500 monthly, and at the end of the contract, you receive a residual value of Ksh 100,000,” Ngigi said. This model is especially ideal for young investors or those testing the waters with a smaller budget.
Maridady Motors has positioned Smart Cab and its related models as secure, well-managed, and transparent opportunities for individuals looking to diversify their income.
The business has maintained long-term relationships with its investors, with some having joined as early as 2019 and continuing to reinvest.
The Smart Cab model offers a compelling alternative to traditional investments, particularly for those looking for hands-free income generation.
By eliminating the operational burden and maintaining strict vetting processes, Maridady Motors ensures that investors can focus on their returns without the stress typically associated with vehicle ownership.
Beyond profits, the Smart Cab initiative delivers meaningful socio-economic benefits. It has become a powerful job creation tool by enabling vetted drivers to access vehicles and generate sustainable income.
This not only supports livelihoods but also contributes to youth empowerment and economic inclusivity.
For Kenyans in the diaspora, the model offers a transparent and impactful channel to invest back home. It also contributes to the professional growth of Kenya’s ride-hailing and delivery services sectors.
Maridady Motors has cultivated strong relationships with its investors, with some having joined the program as early as 2019 and continuing to reinvest.
Through Smart Cab and its related models, the company has positioned itself as a transparent, secure, and socially impactful platform for passive income generation—delivering consistent returns while creating real value for both investors and society at large.
