Okada riders must give out their registered motorbikes before they can get the CODA cars
A hire purchase deal for Bajaj Qute vehicles has been secured by the Coastal Development Authority under the CODA drive initiative which is one of the government’s agencies given the task to speed up economic and social development.
This an aim to phase out the commercial motorcycle business popularly known as okada due to its associated risks as compared to a car. The initiative also aims at improving livelihoods by creating employment and also addressing transportation issues for people and businesses alike within the Coastal Development Zone.
The okada business has also been one of the bones of contention between the two major political parties the New Patriotic Party and the National Democratic Congress. Whiles the NDC’s John Mahama had intentions of regulating it, the idea was not welcomed by the NPP as they also proposed a different alternative to provident vehicles to the Okada operators.
As it stands now, the government has commenced the first phase of the initiative with some 100 vehicles
Specific arrangements for the purchase and payment of the quadricycles as outlined by the Authority will apply to all applicants and beneficiaries of the initiative.
A detailed communiqué issued by CODA on the initiative is below
The Initiative
CODA Drive is an intervention to improve livelihoods and create employment by facilitating transportation for individuals and small businesses within the Coastal Development Zone.
Requirements of beneficiaries (Non-Okada Riders)
To qualify as a beneficiary of the CODA Drive initiative, an individual or small business:
- Must be a member of any farmers, fishers, taxi drivers, ‘Okada’ riders or ‘Aboboyaa’ riders association for at least a year.
- Must be resident within the Coastal Development Zone (Oti, Volta, Greater Accra, Central, Western and Western North regions).
- Must possess a valid driver’s license, minimum Class B.
- Must be a member of CODA Credit Union and possess a CODA Credit Union membership card.
- Must complete an application form that should be endorsed by two guarantors.
- Must submit completed forms to the regional office of CODA for further processing.
Requirements for Okada riders
To qualify as a beneficiary, an okada rider:
- Must possess a Ghana Card.
- Must possess a valid driver’s license, minimum Class B.
- Must surrender their registered motorbike.
- Price and payment
The price of the vehicle is GHS 25,000.00.
The payment shall be on hire purchase.
An individual or small business who is selected to benefit must make an initial payment of 20% of the selling price.
The balance with an interest rate of 2% per annum shall be spread over 24-month equal instalments.
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.
Conclusion
Unless otherwise stated, the terms and conditions contained in this press release shall be the modalities for the sale and payment for the CODA Drive vehicles.
By: Stella Annan | myactiveonline.com Twitter @activetvgh
