Toyota Tsusho alongside its group company CFAO has invested in Moja Ride that operates a digital transformation platform in Côte d’Ivoire. This investment round will be channeled through Mobility54 investments a corporate VC subsidiary of the Toyota Tsusho group.
Moja Ride is a mobility startup trying to solve the public transport situation in Cote d’Ivoire. It is estimated there are 35,000 share-taxis (woro-woro) and 8,000 minibusses that serve the residents of Abidjan. The transport business is mostly operated independently by minibus and taxi owners who employ drivers. Lack of price transparency and accountability remain major challenges in the taxi business forcing customers to frequently negotiate prices. MojaRide offers cashless payment systems across multiple transport services connecting 1200 buses and taxis.
Moja Ride received a Mobility54 award during the Startups in Africa event – which is the grand finale of the NINJA business plan competition run by JICA and Nikkei. The award was aimed at enhancing the quality of public transportation services across West Africa.
Startups in Africa -emerging new tech businesses took place on November 5, 2020, to promote investment in the African tech startup market. During the final round of the presentations, the top 10 African startups chosen by JICA carried out presentations where Mobility54 issued special awards.