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Nigerians Should Expect Flexible, Affordable Transportation -Plentywaka
The Managing Director and Co-founder of Plentywaka, Mr. Enagwolor Johnny, made the promise, after a test drive involving journalists and company management, drivers and vehicle assistants on yesterday.
He noted that the company had added more value to the running of the buses by increasing their routes from Abraham Adesanya to Songotedo; Abijo; Lakuwe and Ahmadu Bello, Eko hotel to Ademola Adetokunbo back to Ajah.
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According to him, the business had experienced improvement within the few months of operation such that 25 buses it started with could no longer meet the demands of riders along the various routes.
This, he added meant the firm needed more buses to meet up as its target .
“From Goggle Playstore alone, we have had about 15,000 downloads, and in the last two months, we have been able to move over 25,000 riders and that is growing, he said.
He said: “what the company needs now is partnership. What happens is when you bring a bus on the system, you are guaranteed a return of revenue generation of between N500,000 – N800,000 every month. From the revenue generated, Plentywaka gets 30% and partners get 70%. This is one part of the partnership. We have another part, whereby people who want to partner with Plentywaka and don’t have buses can actually bring 30% equity contribution of the total cost of the capital.
“We have signed a pact with a finance company that will finance the asset, all investors have to do is provide 30% equity on that asset and we’ll finance the asset for you.
“When you put the bus on the system, 70% of the revenue we generate on the asset would be paid to the finance company, as repayment of loan to buy the buses and 30% will be paid to the partner that will eventually become the owner of the asset. We are looking at getting 100 buses before the first week of January, he said.
The Operation Manager, Mr. Afolabi Oluwaseyi, said that the App has improved in order to serve the commuters more better.
Oluwaseyi said when they started the business users could only log into the app using their email address, but in the improved app, users can now log in with their phone numbers. Moreover, apart from setting your pick up and drop down point, users can now book rides for as many as 20 persons, if they want.
The app now also has an option that helps the user select which direction they are going, towards Abraham Adesanya or CMS.
“Other benefits of the Plentywaka 2.0 app include wakapurse, which enables riders transfer money from their account into the purse on the app. This takes care of the fear people entertain about putting their card details out on public space. Also, users can transfer funds from their wakapurse to the purses of other Plentywaka users, he said.
Plentywaka was established to improve the public transportation system in Nigeria by making daily commute easier for buses commuters through a bus-hailling App. Through this App, users can book and pay for hassle-free rides in real time via a mobile App.
The management of the company assigned the buses to run some particular routes within Lagos State. The proposed routes were Abraham Adesanya to CMS vice versa.
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