Sign up USA
Proactive Investors - Run By Investors For Investors

World Moto to launch Moto-Meter in Kenya

It is the latest deal of its kind for World Moto, which has recently signed similar arrangements with companies in Uganda and Rwanda.
World Moto to launch Moto-Meter in Kenya
Around 80% of Kenya’s 500,000 motorbikes are used as taxis, according to World Moto.

World Moto (OTCMKTSL:FARE) has inked a new distribution deal which will see its Moto-Meter product throughout Kenya.

A Kenyan company will now have exclusive rights to distribute the Moto-Meter journey metering system for motorbike taxis in the East African country.

As an authorised partner, it will have the right to purchase the product at a set price and the agreement also defines preferred lead times for initial orders.

It is the latest deal of its kind for World Moto, which has recently signed similar arrangements with companies in Uganda and Rwanda.

Around 80% of Kenya’s 500,000 motorbikes are used as taxis, according to World Moto, which also highlights that some 8mln people use ‘boda boda’ motorbike taxi’s each day.

"In the last month, we've signed MOU documents for Uganda, Rwanda, and Kenya, three major countries of the East African Federation, all of which are leading their region in professionalizing the motorcycle taxi industry and represent potential revenues of several hundred million dollars in sales," said Paul Giles, World Moto chief executive.

View full FARE profile View Profile

World Moto Timeline

Article
January 19 2016

Related Articles

Single aisle aeroplane
September 14 2017
A bit like Doctor Who, the company likes to regenerate periodically

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You understand that the Company receives either monetary or securities compensation for our services. We stand to benefit from any volume this write-up may generate.

You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Copyright © Proactiveinvestors.com, 2017. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use