FARE - NEW YORK, NY -- (Marketwired) -- 01/19/16 -- World Moto, Inc. (OTC: FARE) (BERLIN: WM7) (BERLIN: A1J8SY) ("World Moto" or the "Company"), a leader in advanced solutions for motorcycle taxis and on-demand transport, today announced that it has signed a memorandum of understanding with a distributor in Kampala for sales support of the Moto-Meter™ throughout Uganda.
The MOU authorizes the Kampala distributor of retail and consumer merchandise to immediately begin marketing the Moto-Meter™ in the assigned territory as an authorized partner of World Moto, and allows him to purchase the Moto-Meter™ at a specified price, with preferred lead times for orders of initial stock.
Kampala City has an estimated 250,000 motorcycle taxis (Source: The Guardian, 2013), and a recent objective of Kamapala City's Council Authority is to have all moto taxis, called bodabodas, within the city limits to be registered and issued an official license to operate. To date, 53,000 bodabodas have registered with the Council Authority, and the process is ongoing. The Council Authority is currently discussing the options for new regulations regarding the safe use of motorcycle taxis throughout the city, with collaboration from the distributor on the unique merits of the Moto-Meter™.
Company CEO Paul Giles stated, "Distributors are a highly effective way to reach not only customers, but state and municipal governments. Recent movements in India and Uganda are just two examples of the initiatives being undertaken by authorities around world to professionalize the motorcycle taxi industry, and it is World Moto's distributors and channel partners that are going to be driving sales throughout this transformation."
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