Thousands of boda boda operators in Embu County will be supported to launch a Sacco to enable them save and access loans and motor cycles, Governor Cecily Mbarire has announced.
Governor Mbarire said once founded the Sacco would ensure that the boda boda operators are not subjected to exploitation by shylocks who charge unwarranted interests on loans.
“We would like our boda boda operators to come together and operate under a strong Sacco which will protect them from exploitation by shylocks who sometimes charge abnormally high interest rates on loans,’’ said Mbarire.
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The governor Governor Mbarire who was addressing guests during the commissioning of Mbeere ACK Bishop Moses Mashamba as the dean of the ACK said that she will mobilize local and national leaders for a major funds drive to raise funds for the planned Sacco.
She thanked the Mbeere ACK Bishop Right Reverend Moses Mashamba for being in the forefront of supporting boda boda operators in the area to come together as groups and also be part of the church to live upright lifestyles.
The ACK Diocese of Mbeere has launched major campaigns to bring together boda boda operators where they have been educated about upright lifestyles.
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Bringing together boda boda riders under a single Sacco, Embu leaders agreed would create more discipline and wealth for riders because they would access loans and motor cycle spare parts at a cheaper price through their own outlets.
Despite the huge successes in launch and development of Saccos in Embu, young people in the region have remained in the periphery failing to join the lucrative sector which has the potential to create better wealth for them.
For some time now, since retiring as the former commissioner of cooperatives Mr. Geoffrey Njang’ombe has been in the forefront of encouraging young people in Embu, where he hails from to join Saccos.
Young people, the former commissioner says, hold huge potential in forming their own Saccos by mobilizing and saving finances from basic Jua Kali entities they operate including boda boda business, welding, plumbing, carpentry among others.
Njang’ombe indicates that the launch of youth based Saccos would ensure those involved grow to become investors in the supply chain by launching outlets to sell various items required in their day to day work and would eventually entrench the young in commerce.
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