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Isinya Boda Boda Riders Invest in Matatu Business with Equity Bank Support
From Motorcycles to Matatus: A Strategic Leap
In a significant step toward economic growth, a group of boda boda riders from Isinya, Kajiado County, has expanded their transport business. The group, operating under Isinya Boda Boda Sacco, has acquired a 14-seater matatu to serve longer-distance routes.
They secured a Chama Investment loan from Equity Bank’s Isinya branch. By pooling their savings, the group transitioned from motorcycles to van transport. The matatu will now operate on the busy Nairobi-Mombasa route as part of the Naekana Sacco fleet.
During the handover, Sacco Chairman Patrick Ng’ang’a expressed gratitude to Equity Bank. He recalled how they began banking in 2019 as a small group of 40 riders at Stage Moja in Isinya. According to Ng’ang’a, the bank welcomed them, provided training on savings and investment, and has now financed their newest asset.
He added that many members have also accessed individual loans. As a result, they’ve grown their businesses and improved their livelihoods.
Isinya Boda Boda Riders Invest in Matatu Business with Equity Bank Support
Equity Bank’s Continued Support for Small Enterprises
Equity Nairobi East Regional Relationship Manager for Asset Finance, Benson Githae, congratulated the group. He praised their commitment to saving and their entrepreneurial drive. Githae noted that the Chama Investment Loan was created to support micro-entrepreneurs who wish to grow collectively.
Annrita Muchiri, Equity Bank Kenya’s Senior Relationship Manager for Pamoja Banking, also commended the riders. She reaffirmed the bank’s commitment to financial training for investment groups, especially youth and women. Areas of focus include savings, smart investing, and debt management.
Grace Gworo, the Isinya Branch Manager, encouraged the group to remain focused and seize new opportunities. She highlighted the wide range of products offered by the bank, including insurance premium financing, agricultural loans, and livestock financing.
This milestone marks a new beginning for the Isinya Boda Boda Sacco. It promises increased financial inclusion and wider economic opportunities for its members.
https://africabusinessnews.co.ke/equity-group-posts-kshs-15-4b-profit-powers-regional-growth/
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