FAGACE signs Guarantee Agreement with Cogebanque for the digitization of the Motorcycle-Taxi Industry

On 20 November 2019 at 01:36

As part of the execution of the fund’s missions, Mr. Basile TCHAKOUNTE, the Director-General of FAGACE proceeded, Wednesday, November 20, 2019, to the signing of an agreement with COGEBANQUE to grant its guarantee in favor of the company YEGO INNOVISION for the implementation of its project to digitization of the transport industry in Rwanda.

This ceremony, which is the second of its kind, demonstrates the commitment of FAGACE and COGEBANQUE to support the private sector in the implementation of the projects and the excellent cooperation relationships that exist between the two financial institutions.

The project that is being carried out by the company YEGO INNOVISION has the objective of equipping moto-taxis with an electronic connected device called Intelligent Connected Fare Meter (ICFM) in order to ensure the management and control of the rides and displacements carried out by these means of transport.

The project will help streamline the motorcycle taxi industry and address the following challenges:

  • Follow motorcycle taxi drivers in real-time;
  • Regulate travel fares;
  • Usage of electronic payment means;
  • Register owners and drivers of motorcycle taxis
  • Improve the revenue of motorcycle taxi drivers through the use of the telephone for booking reservations by means of 24-hour operational calls
  • Build a relevant database of the taxi-motorcycle transport industry for the collection of reliable statistics.

The most ardent wish is that YEGO INNOVISION is a success story and that the Cooperation between FAGACE and COGEBANQUE strengthens and leads to the signing of several guarantee agreements in favor of several projects.

Today FAGACE signed an agreement with Cogebanque to grant its guarantee in favor of YEGO INNOVISION for the implementation of its project to digitize the transport industry in Rwanda