Government through the Coastal Development Authority (CODA) has launched an initiative christened “CODA Drive” to empower operators of commercial motorcycles to own Bajaj Qute vehicles through a hire purchase agreement with CODA.
Mr Jerry Ahmed Shaib, Chief Executive Officer, CODA, launching the initiative said the intervention was to improve livelihoods and create employment by facilitating transportation for individuals and small businesses within the Coastal Development Zone.
Under the initiative, he said operators of commercial motorcycles were to bring their motorcycles for the CODA vehicle and pay for it in instalments.
Mr Shaib said the intervention was necessary because of the high rate of fatal accidents recorded every day especially in Accra due to the activities of motorcycles.
The CEO said the initiative would support the beneficiaries with employment, have a decent lives and assured of their safety for a sustainable future.
Touching on the modalities and payment system, he said beneficiaries must be a member of any farmers, fishers, taxi drivers, ‘Okada’ riders or ‘Aboboyaa’ riders association for at least a year.
The beneficiaries must be resident within the Coastal Development Zone (Oti, Volta, Greater Accra, Central, Western and Western North regions) and possessed a valid driver’s license, minimum Class B, and a card member of CODA Credit Union.
He said the price of the vehicle was GHS 25,000.00 and that an individual or small business who was selected to benefit must make an initial payment of 20 per cent of the selling price.
The balance with an interest rate of 2 per cent per annum shall be spread over 24-month equal installments, stressing that ownership of a vehicle shall be transferred to a beneficiary after completion of payment.
Mr Shaib said all CODA Drive vehicles shall be registered in the name of CODA Credit Union before distribution to the beneficiaries.
Mr Godwin Annor, General Manager, Cadmus Investment Limited, Suppliers of the vehicles, said the vehicles had a low fuel consumption and covered more distance.
He said the company would offer free servicing for the first 1000 kilometers and training opportunities for the beneficiaries across the country.
Mr Rudolf Osei Buabeng, Public Relations Officers, Motor Riders Association of Ghana, commended government for the initiative and pledged to abide by the terms of reference for others to benefit.
Spurce: GNA
