I could have spent the over $2m I invested in Shaxi on myself - Shatta Wale

Ghanaian Dancehall artiste Shatta Wale has said that he had invested over $2 million into his ride-hailing service, Shaxi, which was launched in 2023.

In a session with his fans on social media on July 1, 2024, Shatta Wale claimed that his decision was born out of a desire to support individuals and foster job creation rather than spending on personal luxuries.

“I wanted to make extra money to support people. Why else would I start a business?

“That $2.2m I used to open my Shaxi Business, I could have used it to enjoy myself, I could have bought Lamborghinis or a Rolls Royce with that money," Shatta Wale expressed.

He detailed that the hefty investment went into various pillars of Shaxi, including the development of the app, acquisition of a fleet of mini cars, and promotional and marketing activities.

Shatta Wale also took the opportunity to remind his audience of his compassionate nature. Stating that despite his public persona, he deserved the love and support from the community.

Shaxi is a ride-hailing service launched in 2023 by Shatta Wale. The name "Shaxi," a portmanteau of "Shatta" and "taxi” was part of Shatta Wale's efforts to provide employment opportunities for the youth in Ghana.

The platform aims to offer competition to other ride-sharing services like Uber, Bolt, and Yango, and it's not just focused on profit-making but also on making a positive impact on society.

Shatta Wale has emphasized that Shaxi is a project for Ghanaians and has been particularly keen on employing fans from the Shatta Movement, the street boys, and the youth, as a way to reduce the unemployment rate.

ID/BB

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Shatta Wale says he started his ride-hailing company, Shaxi, with over $2 million. pic.twitter.com/n7WgSBsMt3

— EDHUB🌍ℹ (@eddie_wrt) July 1, 2024