Ethiopian Taxi App To Invest Sh2 Billion In Boda Boda Sector as It Enters Kenyan Market

Boda Bodas (Photo Courtesy)

Ethiopian Ride Service, Taxiye, has officially entered the Kenyan Market in a bid to win a chunk of the market in the highly competitive taxi and Boda Boda hailing sector.

The launch was held in Karen and officiated by Kenya’s ICT Cabinet Secretary, Joe Mucheru, who welcomed the move while reaffirming that Kenya is a big player in the continent’s digital transformation plans.

“We welcome more digital investments in the country, as we continue to take the lead in Africa in digital transformation. As we have always said, the future is digital and we are here to support and facilitate digital investments for both local and international investors,” Mucheru said.

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Taxiye’s Chief Executive, Eve Maina, revealed plans by the company to invest Sh2 billion in the business which will be used to provide enlisted service providers with motor cycles (boda bodas) and vehicles for lease.

“We are partnering with the operators in a bid to give them the opportunity to participate in the company’s decision-making process by supplying them with motorbikes and cars on a lease to own model at competitive rates,” said Maina.

She said that Boda Boda operators will be able to own their own motorbikes and a smartphone for their operations for as little as Sh250 per day.

Taxiye also said that it is partnering with the Boda Boda Association of Kenya (BAK) and will supply the Association members with 300,000 motorbikes within the next five years.

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Kevin Mubadi, the chairman of BAK said that the partnership will create direct employment opportunities to the over 1.2 million people the sector already supports.

“The industry is currently the biggest single employer in the country, with over 1.2 million youths employed. This is because some do share one motorbike for them to earn a living hence raising the numbers,” said Mobadi.

According to Mucheru, the Boda Boda sector is currently one of the biggest drivers in Kenya’s economy, with a revenue of Sh219 billion in recorded in 2018.

“The partnership with Taxiye is part of our mandate to see the sector improve services and enable riders to be disciplined, reliable and well trained 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,” Mubadi added.

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Written by Vanessa Murrey

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