PlentyWaka Announces App Update, Conducts Test Drive, Launches Vehicle Partnership Scheme
Lagos-based bus-hailing service, PlentyWaka, has released an updated version of its mobile application, the PlentyWaka 2.0. The update comes with improved features that would eradicate the challenges users experienced with the old version.
One of these improvements is the ability to book for over one rider, unlike the older version which only allows for a single booking.
Also, with the new app, payment for a ride can only be deducted upon completion of the ride. This was a major problem associated with the old app as many users complained that whenever they decided to cancel a ride for any reason, they suffered a reduction of funds even without enjoying the service.
Another improvement is the introduction of barcodes which makes the boarding and alighting process smoother. Vehicle Assistants now only need to scan a rider’s barcodes to start and end their journey, instead of the old system of cross-checking every booking detail.
The updated app also comes with the waka purse, which is more or less a PlentyWaka wallet. With this improvement, it will no longer require users to input their card and other payment details into the system as all they need do is fund their waka purse with as low as N1,000. There’s no maximum fundable sum.
“You can also transfer funds from your waka purse to someone else’s,” Afolabi Oluseyi, vice president, Operations of PlentyWaka said. “These features are coming live today and they are all geared towards improving user experience.”
PlentyWaka vehicle partnership scheme
PlentyWaka has grown in popularity since launching in September, testing its model and technology, and understanding the market. However, its route has largely remained limited to its launch route of Ajah-CMS (now extended to Abraham Adesanya) and a few extra routes like Eko Hotel–Adetokunbo Ademola, all within the Island.
Expanding into other routes is therefore at the top of the company’s agenda. To help its expansion vision, the platform has launched the PlentyWaka Vehicle Partnership Scheme which allows interested investors onboard buses on the platform and earn returns on investment.
“When you bring a bus to the system, you’re guaranteed of revenue generation between 500 and 800 thousand every month,” PlentyWaka MD and Co-founder, Johnny Enagwolor says. “From the revenue, PlentyWaka gets 30% and our partner gets 70%.”
There’s also a finance leasing option for interested partners who can’t bear the cost of a full bus. With the option, a partner only needs an equity of 30% and a partner finance company would provide the rest.
“From the revenue generated from this too, PlentyWaka will take 30%. The remaining 70% will be shared 70/30 again with 70% going to the finance leasing company.”
Through this scheme, the bus-hailing company hopes to onboard at least 100 buses unto its system by February 2020.
Decongesting Lagos roads remains a major goal for PlentyWaka, with a target of removing at least 35% of cars from the roads through a service that gives car owners the same level of comfort. This calls to question if the service is elitist in nature, especially since the service isn’t yet to be launched on the Mainland even though those areas experience far more congestion.
“We are always trying to fill the void between the rich and the poor,” Oluseyi says. “However, our service is not for everybody. We are creating a classy service that attends to the needs of average Nigerians who can afford our services, not just for people who can afford cars.”
PlentyWaka went on to treat journalists to this classy service as they went on a cruise in several of their buses. The cruise also allowed the journalists experience the new app, interact with the drivers and bus assistants, and enjoy the PlentyWaka experience.
