Taigoo - Taxi for Good Initiative

Taigoo - Taxi for Good Initiative

Accra, GhanaAccra, Ghana
Organization type: 
hybrid
Project Stage:
Start-Up
Budget: 
$10,000 - $50,000
Project Summary
Elevator Pitch

Concise Summary: Help us pitch this solution! Provide an explanation within 3-4 short sentences.

Taigoo is an initiative designed to promote the ownership of taxi cabs among disadvantaged and marginalized drivers in Africa starting with Ghana.

About Project

Problem: What problem is this project trying to address?

Dozens of thousands of taxis are circulating in Accra, the capital city. Taxi drivers are for the most urban unemployed men who become drivers. The existing practice consist of an equivalent amount of a daily rental fee, often deem “exploitative” being paid to rent the vehicle, possibly for the lifetime of activity, with no scope for ownership for drivers. Because of their lack of access to formal finance; drivers are in effect brought to pursue their bread earning activity on a daily hire basis and remain stuck in a spiral of poverty throughout their life with all its implications. Cases where you meet drivers in their 40’s with 20 years of service and no owned vehicle is all too common.

Solution: What is the proposed solution? Please be specific!

“Every Taxi Driver. His Vehicle Owned” will describe our mission. We provide an income generating asset – the taxi cab, and allied services thus promoting micro entrepreneurship among urban poor. Cab drivers repay the cost of the taxi plus an interest bonus solely through their daily sales proceeds for a period of 1-3 years.
Impact: How does it Work

Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.

Our innovation lie in our unique style of service delivery and design that addresses underlying causes of poverty through asset based entrepreneurship development: 1. 5 drivers constitute a group & 2-5 groups fall under one garage/meeting point. The group acts as the social collateral of the asset-based loan. Individual drivers are added to groups 2. Each garage/meeting point cover 10-25 taxis. Each garage/meeting point serves as the collection centre for the driver’s daily/weekly payment and also provides repair facilities 3. We then provide ongoing ecosystem services that drivers cannot provide individually but represent real needs or opportunities (advertising on taxis, professional mechanic shops, taxi online booking and pre-paid services', taxi drivers' credit union, taxi drivers and families' health insurance, health center and pharmacy) on a revenue-share basis 4. We weave a country-wide network of garage/meeting points and expand the model virally.
Sustainability

Marketplace: Who else is addressing the problem outlined here? How does the proposed project differ from these approaches?

Current taxi owners would still carry on their usual business
Team

Founding Story

Through buying my first taxis, learning deeply from the sector and realizing that drivers were disadvantaged.
About You
Organization:
Taigoo - Taxi For Good
About You
First Name

Richard

Last Name

Seshie

About Your Organization
Organization Name

Taigoo - Taxi For Good

Organization Country

, GA, Accra

Country where this project is creating social impact

, Accra

How long has your organization been operating?

Less than a year

Has the organization received awards or honors? Please tell us about them

N/A

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Innovation
How long have you been in operation?

Operating for less than a year

Which of the following best describes the barrier(s) your innovation addresses? Choose up to two

Cost, Equity.

Social Impact
Please describe the goal of your initiative; outline what you are trying to achieve

“Every Taxi Driver. His Vehicle Owned in Ghana and Africa”. Within the next 5 years, 5.000 drivers are individual owners of their taxis

Which barrier(s) to financial inclusion does your solution seek to address? (select all applicable)

The lack of affordable financial products tailored to the needs of underserved and excluded communities,.

If you selected 'other' above, please specify which other barriers to financial inclusion you solution seeks to address:
For which underserved or excluded communities will your solution create access to valuable, affordable, secure and comprehensive financial services?

In Africa, hundreds of thousands of taxis drivers represent a vulnerable and socially disadvantaged community everywhere.

Could your solution work in other geographies or regions? If so, where?

Yes, as long as drivers are not owners

If your solution is dramatically successful, how will things be different in 10 years?

Within the next 5 years, 5.000 drivers are individual owners of their taxis

What will have had to have changed to make this happen?

By providing the taxi cab as an income generating asset to be owned by drivers

What has been the impact of your solution to date?

We've launched our activities with just 2 taxis and our model, albeit not fully rolled-out is proving to work.

What is your projected impact over the next five years?

Within the next 5 years, 5.000 drivers are individual owners of their taxis

What barriers might hinder the success of your project? How do you plan to overcome them?

Building integrity and honesty among drivers
Fostering trust of our model among drivers

Winning entries present a strong plan for how they will achieve and track growth. Identify your six-month milestone for growing your impact
Identify three major tasks you will have to complete to reach your six-month milestone
Task 1

Secure a partnership with a car leasing company to convert their cars (following leasing) into taxis

Task 2

Engage trusted drivers

Task 3

Fully roll-out our operations with a garage/meeting point and 2 groups of taxi drivers and 10 vehicles

Now think bigger! Identify your 12-month impact milestone
Identify three major tasks you will have to complete to reach your 12-month milestone
Task 1

Secure a partnership with a car leasing company to convert their cars (following leasing) into taxis

Task 2

Engage trusted drivers

Task 3

Fully roll-out our operations with 2 garage/meeting points and 4 groups of taxi drivers and 20 vehicles

Sustainability
Tell us about your partnerships

N/A

Are you currently targeting other specific populations, locations, or markets for your innovation? If so, where and why?

Piloted in Accra, Ghana so far. All African capitals and cities face the same challenge.

What type of operating environment and internal organizational factors make your innovation successful?

Taigoo champions a new model for asset ownership among the taxi drivers' community. We will consistently engage drivers, promote trust and refine our model in a transparent way.

Please elaborate on any needs or offers you have mentioned above and/or suggest categories of support that aren't specified within the list

Comments

Richard Seshie's picture

What are your suggestions to derive greater value from Taxi For Good?

Jacqueline McAdam PhD's picture

This is good do you think it would work in other parts of Africa?

randomness