In the town of Nanyuki, a group of motorcycle operators, known as the Nanyuki Boda Boda Sacco (NABOSA), has brought about a significant transformation in the lives of its members through the development of a KSh 150 million residential estate.
The decision to break free from the cycle of renting and pursue a venture offering permanence and affordability was made in 2017. A key element of their strategy involved each member contributing KSh 50 daily, setting the groundwork for a groundbreaking initiative.
Patrick Waithaka, the Chairman of NABOSA, highlighted the crucial role played by these daily contributions. Initially faced with the challenge of accumulating sufficient capital for construction, members diligently saved, with the aim of reaching the 20% required by the bank for each individual house, totaling KSh 700,000. By December 2016, a majority of members had successfully saved the required amount.
The tangible outcome of their collective efforts materialized in 2018 with the completion of the first phase of the estate, featuring 60 houses. The keys to these new homes were handed over to proud homeowners, serving as a testament to the transformative power of community-driven initiatives.
More than 100 NABOSA members actively participated in this endeavor, highlighting the extensive impact on the community. Encouraged by their initial success, the Sacco continued construction, not only providing housing solutions but also creating employment opportunities within their ranks.
The positive economic ripple effects were evident as some members, empowered by the project, were able to acquire private vehicles, indicating newfound financial stability. James Kamiti, a beneficiary of the housing project, expressed his joy at no longer having to allocate funds to monthly rent. Formerly paying KSh 7,000 for rent at Lion’s Court, Kamiti now redirects those funds towards savings.
Despite the modest size of his new home, the relief from the financial burden of rent has enabled Kamiti to repay loans, support his family, and enhance his overall quality of life. The success of the NABOSA initiative stands as a beacon of community collaboration and empowerment, showcasing the profound impact that collective efforts can have on individuals and the broader society.
