Bank of Kigali, in partnership with Yego Innovision and RwandaMotors, has launched the first batch of brand new taxi cabs in Rwanda. The financed 7-seater Suzuki Ertiga cabs were given to three taxi drivers worth Rwf15 million each.

The cars were bought with loans financed by Bank of Kigali in favor of the taxi men.

For long, taxi drivers have held a misconception that new cars are unaffordable.

The loan will be paid in six years at an interest rate of 16 per cent.

Papias Fikiri is one of the taxi drivers who received the brand new car.

"It is exciting. The car is less consuming (in terms of fuel) and will help me deliver better services to Rwandans. I can only call for fellow taxi men to consult Bank of Kigali for such an opportunity,” he said.

Over 11,000 taxi men operate in Kigali and the Chief Executive of the Bank of Kigali, Dr. Diane Karusisi thinks that with BK loan, they can all be able to afford a brand new car and revolutionize transport in Kigali.

She added that for a taxi driver to be able to buy a Rwf15 million car proves that they can manage their income with discipline and achieve more.

"This was made possible because of the Meter fitted in the taxi cabs. With the meter we were able to record every trip and the revenue generated on a daily basis. This data was worked on by the team at the Bank of Kigali then worked out the repayment tenure and monthly payment. It is possible for any taxi driver,” she said and called upon taxi drivers in Kigali to seize the opportunity.

She added that the initiative will not only benefit the drivers but also their clients, travelers, tourists and the climate since the emission by old cars will be reduced.

"Rwanda being an excellent hub for conferences and events, transport facilities need to be available and conveniently offering a world-class experience," she said.

"By offering this facility, we are confident that as more taxi drivers acquire new cars, we will be contributing to making Rwanda a tourism hub and changing people’s lives as well."

Supporting government’s plan for public transport

Dr. Deo Muvunyi, Senior Manager in Charge of Transport Licensing at RURA, said that the initiative is timely and will support the government's National Public Transport Safety Strategy that aims at replacing old cars which operate in Kigali with new ones, among others.

These 3 new vehicles will history today, as this is the first time ever that Taxi Drivers in Rwanda have been able to purchase zero-kilometer vehicles” said Karanvir Singh, CEO of YEGO Innovision Limited.

RwandaMotors that facilitated the drivers to get the brand new cars expressed their interest to help more taxi drivers get their own brand new cars.

According to Rwanda Utilities Regulatory Authority (RURA), only 3 per cent of Rwandans use taxi cabs, 13 per cent use motorcycles and 83 use public buses.

Bank of Kigali, in partnership with Yego Innovision and RwandaMotor, has given three brand new cars, Suzuki Ertiga in the City of Kigali, on July 28, 2020. / Dan Nsengiyumva

Papias Fikiri is one of the taxi drivers who received the brand new car during the ceremony on July 28, 2020. / Dan Nsengiyumva

Déo Muvunyi, Senior Manager in Charge of Transport Licensing who represented RURA on July 28, 2020. / Dan Nsengiyumva

Karanvir Singh, CEO of Yego Innovision, interacts with a driver during the handover ceremony of the new cars on July 28, 2020. / Dan Nsengiyumva

Participants during the handover ceremony. / Dan Nsengiyumva

Yanick Camerman, President of RwandaMotor, speaks during the ceremony on July 28, 2020. / Dan Nsengiyumva