CODA Drive is a four-passenger quadricycle used for short commutes within the inner city.
The Coastal Development Authority designed the CODA Drive to eradicate poverty and create wealth for commercial drivers, okada, and Pragya riders.
The new initiative is also expected to help address road safety 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:
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 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 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.
All CODA Drive vehicles are insured before they are distributed.
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.
The CEO revealed that CODA has many economic and social benefits including but not limited to the income-earning opportunities for thousands of Ghanaian families as well as reduction in road crashes and consequent reduction in injury and death.
CODA Drive is being funded under the Infrastructure for Poverty Eradication Programme (IPEP).
The Coastal Development Authority (CODA) was established to, inter alia, help accelerate economic and social development in 109 constituencies and six regions of Ghana through the implementation of the Infrastructure for Poverty Eradication Programme (IPEP) uner the Ministry for Special Development Initiatives (MSDI).
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