CODA outlines modalities for Okada riders for purchase and payment drive initiative

The Coastal Development Authority (CODA), has announced the modalities for the purchase and payment of the government’s drive initiative, aimed at providing cars for motor riders (okada riders) in place of their motorcycles.

Per the modalities, registered okada riders, must possess the National Identification Authority Identity(NIA) card (Ghana card), a valid driver’s licence, minimum Class, and surrender their registered motorbike to be able to benefit from the initiative.

On the other hand, non-okada riders who would want to be beneficiaries, be it 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.

Such a person must be resident within the Coastal Development Zone (Oti, Volta, Greater Accra, Central, Western and Western North regions), and possess a valid driver’s licence, minimum Class B.

Additionally, these non-okada riders must be a member of the CODA Credit Union, possess a CODA Credit Union membership card, and complete an application form that should be endorsed by two guarantors.

Purchace and payment plan

The beneficiaries of the CODA drive initiative, including Okada’ riders, would pay the cost of purchase of the Bajaj Qute vehicle (GH₵25,000) in 24 months (two years).

The Authority explained that the beneficiaries would pay an initial 20% of the GH₵25,000, which is GH₵5,000, and the balance with an interest rate of 2% per annum would be spread over 24- month equal instalments.

These were contained in the modalities spelt out by the implementers of the initiative, and sighted by The Ghana Report, in a statement issued by CODA on Sunday, October 17.

The drive initiative is aimed at eradicating poverty and creating wealth for commercial drivers, okada, and pragya riders.

It is to also improve livelihoods and create employment by facilitating transportation for individuals and small businesses within the Coastal Development Zone.

Meanwhile, the Authority has noted that all CODA Drive vehicles would be registered in the name of CODA Credit Union, and e insured before they are distributed to the beneficiaries.

It added that the ownership of a vehicle shall be transferred to a buyer/beneficiary after completion of payment.

The government, last month indicated that it has acquired about 100-four-seater, fully air-conditioned mini vehicles to be used for the promised ‘Okada for Car’ initiative.

READ ALSO: Over 100 Mini Cars For Okada Riders Ready