H.E Governor James Ongwae today presided over the launch of the Kisii Town Motorcycle (Bodaboda) Savings and Credit Cooperative Organization (Sacco).
Kisii Town has about 8,000 motorcycles and the business potential is great with the day population for Kisii Town rising to 400,000 on market days – as per estimates
The formation of this Cooperative is in line with recommendations of the Motorcycle Taskforce formed by the Governor early last year to address issues affecting this sector.The cooperative has, so far, over 700 registered members drawn from 27 stages within Kisii Town.
Members register with KShs.100 and purchase a share at KShs.1000.
Each then contributes a minimum of KShs.100 per month. The County Government has linked the Sacco with Post Bank and Cooperative Bank. Members pay monthly contributions directly to the bank through mobile money transfer (MPesa) – which is convenient. Members can access loans of up to three times their savings from the Sacco to buy motorcycles, acquire property, pay school fees and cater for emergencies.
The establishment of the Sacco is a major step in the reorganization of bodaboda transport in Kisii County as it complements efforts by the National Government
