DGGF invests in Coseco’s transport projects
The Dutch Good Growth Fund (DGGF) has invested in COSECO Nepal Pvt. Ltd., a technology company that aims to provide safe, cheap, and easy transport solutions for people in Nepal. With this investment, COSECO aims to set up a social entrepreneurial excursion to improve the transportation system and ultimately improve the lives of people in Nepal.
Transportation has been a major issue in Nepal, particularly in rural areas, where people often rely on poorly maintained public transport or walk long distances to reach their destinations. In addition, the traditional payment system for public transport in Nepal is based on cash transactions, which can lead to fraud and corruption.
COSECO has developed an automated fare collection system (AFCS), a modern payment system that replaces traditional cash-based payment methods. The AFCS uses smart cards or mobile payment applications to pay for fares. Passengers can simply tap their smart cards or mobile devices on the reader, and the system automatically deducts the fare from their account. This system not only eliminates the need for cash payments but also reduces the chances of fraud and increases accountability in the transportation system.
The DGGF investment will enable COSECO to set up a social entrepreneurial excursion, which aims to create a safe, cheap, and easy transport system for people in Nepal. The excursion will involve the deployment of the AFCS in public transport buses in Nepal, starting with a pilot program in Pokhara. If successful, COSECO plans to deploy the AFCS in up to 850 buses in Nepal.
The AFCS is not only a modern payment system but also a solution that can generate real-time data on passenger volume, revenue, and route optimization, which can help operators make informed decisions. The system can also help transportation authorities to monitor the operation of buses and identify any irregularities in the system.
COSECO’s AFCS solution has the potential to transform the transportation system in Nepal and ultimately improve the lives of people by providing a safer, more convenient, and efficient means of payment for public transport. The social entrepreneurial excursion is also expected to create jobs and improve the overall economic conditions of the country.
The DGGF investment in COSECO reflects the Dutch government’s commitment to promoting sustainable economic growth and private sector development in developing countries. The investment is part of the DGGF’s efforts to provide financing for small and medium-sized enterprises (SMEs) in developing countries.
COSECO is a prime example of a social enterprise that uses technology to address social and environmental issues in Nepal. The company is committed to creating a positive impact on society and the environment while generating economic value.
The DGGF investment in COSECO is a win-win situation for both the company and the people of Nepal. The investment provides COSECO with the necessary financial resources to set up a social entrepreneurial excursion that can create a positive impact on society, while the people of Nepal will benefit from a safer, more convenient, and efficient means of payment for public transport.
In conclusion, the Dutch Good Growth Fund’s investment in COSECO Nepal Pvt. Ltd. is a positive development that has the potential to transform the transportation system in Nepal. The social entrepreneurial excursion that COSECO plans to set up will create a safe, cheap, and easy transport system for people in Nepal, ultimately improving their lives. The investment reflects the Dutch government’s commitment to promoting sustainable economic growth and private sector development in developing countries. COSECO is a prime example of a social enterprise that uses technology to address social and environmental issues, while generating economic value