Who Owns Yego Cab? Karanvir Sigh Wealth and Businesses
Yego is the new baby in the Digital Taxi system in Kenya hailing all the way from Rwanda where it has perfectly established its name. Being in the transport industry but in an advanced mode, Yego has invested heavily in boda bodas and taxis which are the main mode of fast transport in Africa.
The digital taxi system entered the African market in the late 2000s killing the old system where taxis had banners on top. Uber which is a giant in this market was among the companies that arrived early and for some time it enjoyed the monopoly of the market before the arrival of other companies.
In our article, we tell the story of Yego’s owner, many might think the company is linked to the famous athlete Julius Yego but that’s not the case.
Who Owns Yego Cab?
Yego is among the latest online cabs in Kenya, launched in March 2023. The brand “Yego” is associated with Julius Yego, a world-winning athlete. However, the tech-based taxi is not associated with him.
The tech-cab firm was founded by a prominent Indian entrepreneur, Karanvir Sigh. Sigh has a wealth of experience exceeding three decades in different fields including Homeland Security, Semiconductors, and ICT.
Aside from his technical side of things, Sigh is also a comedian who has tried his hand at stand-up comedy. Karanvir spent two years in Rwanda while setting up Yegomoto, a Smart Transportation system and Cashless Payment systems targeting the African market.
In 2017, the system was ready and running on boda bodas and taxis in the Rwandan market. In order to make this dream true for Sigh he invested heavily in IT tools and he never missed his target currently, Yego is the most used online cab in Rwanda and it slowly earning the trust of the Kenyan market.
The expansion to the Kenyan market came after a huge success in the Rwandan market. Following its launch, the firm was able to take an uptrend growth curve as most drivers were convinced by the low commission charged n drivers.
Due to few investors in this field, drivers have been complaining about poor commissions from other providers like Uber and Bolt. In order to curb this situation, Sigh signed a better deal with the drivers that could see more drivers ditch the leading Smart Transport companies for Yego.
The main complaint that drivers from other platforms have been raising was the 20% commission cut which to them was quite high considering the cost of living. However, when Yego joined the market, Sigh set his commission limit to 12% almost half of what others charge.
Karanvir Sigh Wealth
Sigh is among the business mogul that has reaped a fortune from the technology industry. He is also among the wealthiest Asians who have invested in Africa. His net worth is estimated to be over Ksh 100 billion. Sigh has invested in other industries but much is still not known about those investments.