25th February, 2011
Globacom has collaborated with Equitorial Trust Bank (ETB), and the Edo State Government to provide over 5,000 commercial motorcycle transport operators (okada) in Edo State with life insurance policies and easy access to credit facilities.
The credit facility is to enable the Okada riders to upgrade their status to car owners within six months.
The project, tagged Edo Motorcycle Riders Empowerment, Micro Credit and Insurance Scheme (EDOMEMCIS), is designed to use the platform of the Glo network to collect statutory revenue from motorcycle taxi operators. To achieve this, the individual operator will send an SMS message to a short code provided by Globacom at the rate of the revenue-payable.
A part of the funds collected through SMS, would be used as premium to provide insurance cover for the motorcycle rider and one passenger, while ETB will open a credit line for the contributor. At the end of six months, the most consistent 200 contributors will receive brand new cars to use as taxi cabs, thereby upgrading them from commercial motorcycle operators to taxi cab owners.
The cabs were unveiled on Monday during the launch of the scheme which was attended by Edo State Deputy Governor, Mr. Pius Odubu, members of the Edo State Executive Council including Head of Service Anthony Edokpayi and special adviser on Commerce & Industry who is also the coordinator of scheme, Sir Osato Ize Iyamu.
Speaking at the event, which held at the Edo State Government House, Head of Globacom’s Public Sector Department, Mr. Tunde Amunikoro, said that the scheme was the first of its kind in the country and would help push back the frontiers of poverty in the state.
Also speaking at the event, Odubu disclosed that the scheme has the dual purpose of solving the challenges of revenue collection and providing welfare for citizens.
Amunikoro said that Globacom’s involvement is driven by its operating principles which transcend the need to make profit.
“We are always on the look out for how to make the lives of Nigerians better,†he said.
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