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General News of Monday, 18 October 2021

Source: www.ghanaweb.com

Government's mini-cars for 'okada' riders, others: Here are the modalities

Vice President Dr Mahamudu Bawumia is expected to officially launch the initiative this month Vice President Dr Mahamudu Bawumia is expected to officially launch the initiative this month

• Government will soon roll out a mini-car intitaive

• It will benefit people along Ghana's coastal regions

• The initiative is expected to help phase out the 'okada' business


Modalities have been released for potential beneficiaries of the government's CODA Drive Initiative, a programme under the Coastal Development Authority (CODA).

Under the initiative, Bajaj Qute vehicles have been purchased and are set to be given under a financing arrangement to individuals and small businesses as part of livelihood improvement and empowerment drive.

The Coastal Development Zone is also looking at using the mini-cars to help phase out the use of motorcycles for commercial purposes within the major city centers, a business known in local parlance as 'okada.'

The Coastal Development Zone comprises the Oti, Volta, Greater Accra, Central, Western and Western North regions.

Vice President Mahamudu Bawumia is expected to officially launch the initiative later this month. The okada debate formed a major plank of the New Patriotic Party's 2020 campaign with the government kicking against its legalization as against the National Democratic Congress' promise to legalize the trade.

CODA has recently released modalities for the purchase and payment of the quadricycles spanning five major areas.




Find the modalities plus other terms and conditions below:

Requirements of beneficiaries (Non-Okada riders)

To qualify as a beneficiary of the CODA Drive initiative, an individual or small business:

1. Must be a member of any farmers, fishers, taxi drivers, ‘Okada’ riders or ‘Aboboyaa’ riders association for at least a year.
2. Must be resident within the Coastal Development Zone (Oti, Volta, Greater Accra, Central, Western and Western North regions).
3. Must possess a valid driver’s license, minimum Class B.
4. Must be a member of CODA Credit Union and possess a CODA Credit Union membership card.
5. Must complete an application form that should be endorsed by two guarantors.
6. Must submit completed forms to the regional office of CODA for further processing.

Requirements of Okada riders

To qualify as a beneficiary, an okada rider:
1. Must possess a Ghana Card.
2. Must possess a valid driver’s license, minimum Class B.
3. Must surrender their registered motorbike.

Price and Payment

1. The price of the vehicle is GH¢25,000.00.
2. The payment shall be on hire-purchase.
3. An individual or small business who is selected to benefit must make an initial payment of 40% of the selling price.
4. The balance with an interest rate of 2% per annum shall be spread over 24-month equal installments.
5. Based on the hire-purchase agreement, the Authority shall have ownership of the vehicle until payment is completed by the buyer/beneficiary. As such, all documents to the vehicle shall be held by the Authority until payment is completed.

Insurance

All CODA Drive vehicles are insured before they are distributed.

Registration

All CODA Drive vehicles shall be registered in the name of CODA Credit Union before they are distributed to the beneficiaries. Ownership of a vehicle shall be transferred to a buyer/beneficiary after completion of payment.

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