By Ken Langat
Bodaboda Sacco Ltd of Belgut constituency has made a major move towards having a solid financial footing after receiving an injection of Sh1.5 million from a successful funds drive by MP Erick Keter.
The Sacco has faced financial difficulties in the past, forcing it to rely on the financial and moral support of the legislator. According to the Manager, Ezra Ngeno, the funds would enable the Sacco to operate on its day to day activities independently. Ngeno who spoke to Sacco Review in his office at Sosiot Trading Centre disclosed plans to roll out a massive campaign to recruit more members
He said the Sacco which was officially launched on December 16 last year had attracted about 2000 members mostly Bodaboda operators and had recently expanded to attract more members from the local business community.
“Over 80 per cent of our members are from Bodaboda operators but we have expanded to woo other small business people who include vegetable sellers, touts, shoes-shiners and small-scale farmers to join us to build our Sacco,” he said. He said a member can save as little as Sh50 which translates to Sh1500 and Sh6000 per month and six months respectively. This, he added, could enable one get a loan of up to Sh100,000 with low interest rates of 12 per cent. Ngeno who was flanked by the Sacco Chairman,
Bernard Rono and Secretary Thomson Kirui said the mission of the Sacco was to teach members the culture of saving and borrowing at the lowest interest rates possible.
The Sacco operates in five wards of the constituency, that is, Seretet, Chaik,Waldai, Kabianga and Cheptororiet wards with each ward having two official operators who doubles up as Board members.