About the project
AwaTech is a technology company that develops and operates software solutions aimed at improving the lives of its users. It currently owns and operates the AwaBike brand. AwaBike is a mobility company with a focus on reducing carbon emissions and promoting environmental sustainability through the deployment of smart technology to deliver efficient transportation options, via green emission focused campaigns and platforms. The West African region is rapidly urbanizing with many dense cities. Location intelligence service Fraym.io ranked African cities by economic activity, connectivity and number of middle class consumers. 37 of the 100 highest ranked cities in Africa are in Nigeria, the most of any other African country. Lagos is the largest city in Africa with as estimated 21million population.
The Lagos transport system is notably fragmented with a mix of taxis, yellow buses, motorcycles, and auto-rickshaws. Lagos also has numerous closed estate communities, many of which prohibit motorcycles from entering or have time restrictions. The company’s strategy is to enter the market through closed communities before gradually expanding into mass transport and major cities. These communities (university campuses and housing estates) have a higher smartphone penetration and concentration of millennials which have accelerated early adoption.
Nigeria alone has a total of over 200 Universities and polytechnics with a student population of over 1.9 million and an estimated potential of 140,000 rides daily.