World Moto Inc (fka FARE)

[EOT]

Or Africa...

The explosion of motorcycles in Africa is projected to escalate to new levels as two-wheelers become the main means of transport for the majority of the continent’s population.

A new report by US-based consultancy firm TechSci Research shows that motorcycle manufacturers and assemblers are seeking to increase their presence on the continent, where the business is projected to more than double from $4 billion to $9 billion over the next five years.

The report shows that South Africa, Nigeria and Tanzania are the largest motorcycle markets, followed by Kenya, Algeria, Uganda, Egypt, Morocco, Angola and Ethiopia.

“The public transport systems in African countries are still inadequate and poorly developed, and consequently, two-wheelers are becoming a key mode of transport in urban and rural areas,” says the report titled Africa Two-Wheeler Market 2011-2021.

In East Africa, the significant growth of the motorcycle sector has largely been driven by attractive fiscal incentives that have resulted in a drastic decline in the prices of the two-wheelers.

http://www.theeastafrican.co.ke/business/Motorcycles-set-to-become-main-mode-of-transport-in-Africa/2560-3395016-item-0-1nqdvl/index.html