ZayRide – The Mobile App that’s connecting Taxi Drivers and Riders in Addis Ababa
1. Tell us about yourself and your business.
My name is Habtamu Tadesse. Born in Ethiopia, grew up in the US. I have a BA in economics from University of Massachusetts. I’m the founder of ZayRide, an Ethiopian taxi hailing platform. We are working to make mobility in Africa convenient, affordable, and safe with our innovative application designed to work on African slow network.
2. How much did you need to start your business and how were you able to raise that capital?
I was able to raise my starting capital by selling my Ethiopian restaurant in the United states. We just closed our first round of investment last week.
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3. What are some of the challenges you face in your business and how do you overcome those challenges?
The first challenge we had to address was that most of our drivers did not have a smart phone. We started a lease program to tackle this challenge.
4. Where do you see your business in 5 years from now and what steps are you taking today to reach that objective?
We see our platform operating in three more different countries in Africa. Our goal is to own African market since we know the market better as an Pan-African start-up.
5. What advice would you give to entrepreneurs wanting to start a business or invest in Africa?
One advise that I can give is that as an African we can not do nothing and wait until things get better. We have take the driver seat and do everything we can to address the different problems of our continent. If you see a problem do something about it.
6. How is your business participating to the development of Africa?
Our company is working in mobility and financial including. We believe these two areas are vital to sustainable growth of Africa. Mobility will increase productivity and financially excluded groups now can get access to finance.