Metro Manila (CNN Philippines, September 7) — An inclusive financial system should support so-called nanopreneurs, such as motorcycle taxi drivers, a Philippine company told government and private sector leaders in the 43rd Association of Southeast Asian Nations (ASEAN) Summit in Indonesia.
George Royeca, chief executive officer of motorcycle tax group Angkas, urged President Ferdinand Marcos Jr. and other ASEAN leaders to provide expanded “access to credit, savings, housing, education” to cover informal sector workers.
“Financial inclusion should be for everyone. While the traditional financial system works for corporations and employees, it’s vital to establish a new system for our informal workers just as a new ecosystem was created for MSMEs (micro-, small-, and medium-sized enterprises),” he said in his speech at a roundtable meeting, organized by the Philippines ASEAN Business Advisory Council.
The system must also include education and training for nanopreneurs who might lack formal education, Royeca said.
Launched in 2016, Angkas is the first app-based motorcycle ride-hailing platform in the country. It counts around 30,000 riders.
A pilot study on motorcycle taxi began in 2019, with three participants, namely, Angkas, Move It, and JoyRide.
Earlier this year, concerned group also urged the government to legalize around 200,000 habal-habal or unregistered motorcycle taxis. Some transport officials, including Sen. Grace Poe, supported the move.
