Ethiopian taxi-hailing startup, Taxiye stepped into the Kenyan market about a week ago and they a seeking a slice of the monetary pie.
Taxiye Comes to Kenya
The firms’ Chief Executive Officer Eve Maina says they will Invest KES 2 billion in the business by enlisting “boda boda” riders and taxi drivers and providing them with motorcycles and vehicles through a lease to own business model.
“We are partnering with the operators in a bid to give them the opportunity to participate in the company’s decision-making process. We will do this by supplying them with motorbikes and cars on a lease to own model at competitive rates.
They will lease them at KES 250 daily. With this, operators will be able to own their own motorbikes and a smart phone for their operations.
The CEO also mentions that the Payment period for “boda boda” riders will range between three to 18 months. For drivers, they are looking at 3 years.
The entry of Taxiye in the Kenyan market comes against a background of reforms initiated by the government. Their aim is to streamline the sector whose contribution to youth employment is growing exponentially.
“The partnership with Taxiye is part of our mandate to see the sector improve services. It looks to impart discipline, reliability and training to offer the best service. As National Chair, I will do my best to support the sector to grow and become better each day. We thank Taxiye for this noble support they have brought to the sector,” he added.