Boda boda riders in Makongeni, Thika, are beneficiaries of an association – which has been issuing loans, selling pieces of land, and building houses from their daily Ksh20 savings.
Kamenu Stages Boda boda Association has been saving for five years to actualise its dream of owning property across the country.
According to their chairman Wilson Githu, the association, over the years, has initiated projects that have improved their lifestyle and enabled them to offer financial aid to other boda boda operators.“We already have three pieces of land, started projects to buy more motorcycles, and we are able to help other riders get back on their feet when business is down,” Githu stated.
Githu stated that the group intended to obtain financial independence and do away with the negative branding and being associated with crime.
The operators also intend to develop their pieces of land by building more houses that will serve as a source of income through renting and free them from the burden of the tenancy.
Other riders who intend to join the group have to part with a Ksh3,500 registration fee which the chairman stated was a way of ensuring seriousness and commitment.
“It has taken financial discipline over the years from the operators to achieve their goal, so we only allow serious members to join,” the chairman Githu affirmed.
“We process the loan for you immediately. You do not need to go through tedious processes and regulations,” Githu added.
The government encouraged the formation of such groups to be able to receive funding through a project set to be launched in April 2023 by President William Ruto.
“In April 2023, the government will launch another product targeted at Saccos regulated by the Sacco Regulatory Authority (SASRA).”
“The product will allow Saccos to borrow from Ksh10 million up to Ksh100 million.” Ruto stated on Wednesday, November 30, 2022, during the launch of the Hustler Fund.
