The Coastal Development Authority (CODA) wishes to inform prospective applicants and the general public of the modalities for the purchase and payment of Bajaj Qute vehicles under the CODA Drive initiative.
The modalities shall apply to all applicants and beneficiaries of the initiative, this is an intervention to improve livelihoods and create employment by facilitating transportation for individuals and small businesses within the Coastal Development Zone.
The authority looked beyound normal okada members and added up some group, with some requirement to qualify in the other groups are; a beneficiary of the CODA Drive initiative, an individual or small business:
REQUIREMENT FOR NON-OKADA
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.
REQUIREMENT FOR OKADA DRIVES
Some requirements for an okada drive to qualify as a beneficiary, are:
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 GHS 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 20% 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 AND REGISTRATION
The authority also stated that it will register all vehicles in the name of CODA Credit Union before they are distributed to the beneficiaries and also insured . Ownership of a vehicle shall be transferred to a buyer/beneficiary after completion of payment.
In conclusion also 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.
BACKGROUND
This was one of the promised made by the president and his party, The New Patriotic Party in the quest for power in 2020 election.
This flagship promised mas made to replace the okada meaner in the country, it was also to help reduce accident situation in the country.
The the just end report on accident from January to September, about half of the accident in the country are as a results of negligence on the part of okada drives.
