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Coastal Development Authority announce modalities for CODA Drive initiative

By Eric Nana Yaw Kwafo
Business & Finance Coastal Development Authority announce modalities for CODA Drive initiative
OCT 18, 2021 LISTEN

The Coastal Development Authority (CODA) has outlined the modalities for its initiative that is set to provide vehicles to interested drivers.

The initiative dubbed ‘CODA Drive’ is an intervention to improve livelihoods and create employment by facilitating transportation for individuals and small businesses within the Coastal Development Zone.

Ahead of the official launch of the initiative on Friday, October 22, the Coastal Development Authority has announced the modalities required to be completed by applicants.

For non-okada drivers looking to benefit from CODA Drive, one must not only be a resident within the Oti, Volta, Greater Accra, Central, Western, and Western North Regions but must also be a member of any farmers, fishers, taxi drivers, ‘Okada’ riders or ‘Aboboyaa’ riders association for at least a year to qualify.

Meanwhile, okada riders looking to jump onto CODA Drive must surrender their registered motorbike, have a Ghana Card, and possess a valid driver’s license [minimum Class B] to qualify for the intervention.

The price of the vehicle is GHS25,000.00 but based on the hire purchase arrangement, 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 24month equal installments.

Meanwhile, 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.

Find more details on CODA Drive below:

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Eric Nana Yaw Kwafo
Eric Nana Yaw Kwafo

Journalist

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