The rise of ride-hailing services has transformed urban mobility, making it more accessible and convenient than ever before. Among the latest entrants in this dynamic industry is Faras Technologies, which is quickly making a name for itself in Uganda and beyond. As part of the #40Days40FinTechs initiative, Faras is showcasing its innovative approach to on-demand transport services, positioning itself as a key player in Africa’s ride-hailing economy.
Revolutionizing ride-hailing in Uganda
Faras Technologies has developed a dual-application system catering to both customers and drivers, known as “captains.” The driver app facilitates the onboarding and training of captains, ensuring they are well-prepared to provide high-quality service.
Meanwhile, customers can easily download the app from the Google Play Store or Apple Store to request rides with just a few taps.
Karim Katende, the Head of Marketing for Faras Technologies, highlights the company’s impressive growth, noting that they have attracted around 150 new customers daily, with over 40,000 downloads of their app.
Currently, there are approximately 25,000 captains providing services in Uganda, offering both car and boda boda (motorcycle) rides.
Expanding horizons
Faras is not just limited to Uganda; it operates in several other countries, including Kenya, Tanzania, Sudan, and Ethiopia, with plans for further expansion across the continent. This ambitious growth strategy is complemented by a commitment to cashless transactions, enhancing the customer experience and promoting financial inclusion.
In the coming months, Faras plans to introduce additional features such as cashless payments for customers, cashback offers, and other incentives. This move aims to streamline the payment process while rewarding loyal users.
A platform for innovation
Faras Technologies is participating in the 40 Days 40 FinTechs initiative, which is part of HiPipo’s broader Include Everyone program. This platform not only showcases innovative financial technologies but also facilitates discussions on enhancing digital and financial inclusion for underserved communities.
The initiative features various activities, including exhibitions, hackathons, and summits, aimed at bringing together stakeholders in the fintech space to share ideas and solutions that can bridge the gaps in current financial systems.
Related: AgriShare’s Buy-Now, Pay-Later model for irrigation equipment
