The CEO of the Coastal Development Authority (CODA), Hon. Jerry Ahmed Shaibu has officially launched the “CODA Drive Initiative”.
The initiative which was launched on Friday, 22nd October, 2021 in Accra is aimed at creating employment by facilitating transportation for individuals and small businesses within the Coastal Development zone.
According to the CEO, the project falls under the objectives of the president, Nana Akufo-Addo by providing access to affordable jobs and improving the life’s of Ghanaians.
He added the initiative would help reduce the rate of accidents through motorcycles.
“When Ghanaians purchase the cars, the rate of major accidents will be reduced compared to patronizing motorcycles,” he said.
He stated that the cars will attract more investments into the life’s of Ghanaians.
“The cars will effectively be working, you will be making more sales and income, there will always be happiness and peace and nobody will record any high level of death,” he added.
He, however, admonished the good works of president Nana Akufo-Addo for providing access to quality roads.
“I have never seen any president who has keen interest in the reconstruction of our inner roads compared to Nana Akufo-Addo. Our inner roads were in a bad state but ever since he took office, he has been able to done a lot.
“So when most of our inner roads are completed, there will be low rate of traffic on our major roads,” he said.
The cost of each Bajaj Qute vehicles under the CODA Drive Initiative is GHS 25,000.00.
READ FULL PURCHASE DETAILS 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.
- 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.
2.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 installments.
- 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 Evans Sewornu
