Meet George Mungai Njoroge. He is the vice chairperson of a Bodaboda Sacco in Murang’a County. He shares with Malachi Motano how the Sacco that was formed only five years ago has become a source of inspiration after transforming the lives of its members who are majorly the youth.
“It is high time for youths to understand that operating a Bodaboda business is work like any other and should be taken with the seriousness it deserves. Our Sacco is an example that Bodaboda operators can prosper just like in any other profession, they only need to organize their earnings,” he begins.
From a humble beginning, the Sacco that today boasts of about 100 members has enabled the youth to improve their livelihoods and earnings from their savings. The Sacco came into limelight in the 2019 financial year when it made profits amounting to Sh1.1million.
“Every individual member took home dividends of not less than Sh3,500 while others earned Sh8,000 depending with one’s contributions. The members save at least Sh500 every week, totaling to Sh2 million every month and from the contributions, members are able to access cheap loans that have enabled them to educate their children and support their families. In return, the Sacco makes profits from the interest charged on the loans.
Investment
According to the Vice Chairman, the Sacco is also engaging in other income generating activities that complement their profits.
“We have invested in Bodabodas and Tuktuks. We have also procured a two acres parcel of land valued at Sh1.2 million,” says Mr. Njoroge.
He acknowledges that the Sacco has also established a welfare programme that caters for members who fall sick or lose their lives.
The vice Chairman reports that the Sacco also has previously issued loans amounting to Sh5.6 million to its members.
“As a result of all these investments, most members have been able even to expand their finances by establishing businesses for their spouses. Others have been able to construct their own homes and procure Tuktuks through loans from the Sacco,” he says.
Testimonies
“I have now upgraded from a Bodaboda to a Tuktuk. I joined the sector 5 years ago and immediately joined the Sacco. After saving enough money through the Sacco, I acquired a loan that helped me to buy a Tuktuk which gives me more earnings. Joining a Sacco encourages one to save his earning while providing an opportunity to access cheap loans,” says Emmanuel Wanyoike, a member.
Kamau Kang’e is the Chairperson Kabati business community. He says the area is now safe after the operators consolidated themselves into a Sacco, adding that the Sacco is able to control its members through its internal regulations which has worked for the benefit of the community and also works closely with security agents which helps to flush out criminal elements. “The unity of the operators has made the area unconducive for criminals as they are easily flushed out.”
“We are so proud of them because they have demonstrated that it is possible for youths to set goals and accomplish them. It is a rare occurrence for youths and especially Bodaboda operators to come together in such a platform to empower each other,” says Kandara OCPD Paul Wambugu.
He adds, “They seem to see very far. I attended one of their annual general meeting and learnt that they had vision to ensure all members had licenses and procure Tuktuk, and they have done all that and managed to increase their profits.”
He asked the youths to reach out to more operators and encourage them to join Saccos instead of operating individually.
“The ones that operate solely are the ones that give us headaches in terms of security,” the OCPD said.
