Home Business Subsidised Outboard Motors: CODA Takes Delivery Of Second Tranche

Subsidised Outboard Motors: CODA Takes Delivery Of Second Tranche

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The Coastal Development Authority (CODA) has inspected and taken delivery of 622 Suzuki outboard motors which form the second tranche of 5,000 outboard motors procured by the Authority with funding from the Infrastructure for Poverty Eradication Programme (IPEP) under the Ministry for Special Development Initiatives (MSDI) to be distributed to fishers at highly subsidised prices. The first tranche of 1,300 outboard motors have already been distributed to fishers in Greater Accra, Central, Western and Volta Regions.

Chief Executive Officer (CEO) of CODA, Lawyer Jerry Ahmed Shaib, on Tuesday, 29th September, 2020 led officials of the Authority to inspect and take delivery of the equipment at the premises of CFAO in Tema. Briefing the media, the CEO stated emphatically that, “the Authority procured the outboard motors on the directive of the President to purposely help alleviate poverty among fishers by empowering them to do their business through distribution of outboard motors at highly subsidised prices”.

Regarding resale of the equipment, Lawyer Jerry Ahmed Shaib sounded a note of caution to all that it would constitute an offence for anyone, irrespective of their status, to acquire an outboard motor from CODA at a subsidised price and resell same at a higher price.

Subsidy

Under the intervention, a 40 horsepower outboard motor which costs GHS20,000 is being sold for GHS10,000 representing a subsidy of 50 percent, while a 15 horsepower outboard motor with a market price of GHS14,500 is being offered to fishers at GHS5,000 representing a subsidy of about 65 percent.

Modalities for distribution

Under the arrangement, interested fishers who had their names captured by CODA during needs assessment and stakeholder engagement, prior to procurement of the equipment, can visit the Head Office of CODA in Accra to pay and collect their outboard motors. This is the only mechanism by which distribution of this second tranche will be done.

 

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