Empowering bodaboda’s through financial literacy

Thousands of bodaboda riders across Kenya have set to enjoy enhanced financial acumen as asset financing company Watu Credit Kenya joins forces with the Boda Boda Association of Kenya to launch a series of financial literacy clinics.

This alliance seeks to foster a culture of financial responsibility and stability among riders, who are crucial to the nation’s economy.

The initiative kicked off with its inaugural clinic in Molo town, Nakuru County, setting a precedent for a nationwide campaign to equip boda-boda riders with the knowledge and skills necessary for effective financial management.

“We see our customers as partners, not adversaries. It’s about supporting them through these challenging economic times,” stated Erick Massawe, the Country Manager for Watu Kenya. He noted that his firm is committed to listening to its customers and assisting them in overcoming financial hurdles.

The clinics are designed not only to enhance riders’ financial literacy but also to build a strong, reciprocal relationship between Watu Credit Kenya and the boda-boda community.

By addressing riders’ concerns, the initiative aims to ensure timely loan repayments, minimize repossessions, and empower riders towards achieving financial independence.

Read also: Watu Credit Awarded Client Protection Certification

Mainstreaming boda-boda sector

Victor Getenya, Watu Credit Kenya’s Sales and Marketing Manager, added that the broader objectives of these clinics include advocating for the mainstreaming of the boda-boda sector to improve livelihoods and promote ethical industry practices.

The boda-boda sector, which provides jobs for over 1.2 million Kenyans, plays a pivotal role in transportation and service delivery across the country.

Boda Boda Association of Kenya Chairman, Kevin Mubadi, lauded the move, stating: “Financial literacy is the cornerstone of sustainable economic development. This partnership with Watu Credit Kenya is a significant step towards empowering our members and generating a positive societal impact.”

Watu Credit has introduced various non-financial initiatives to support the sector, including the launch of electric motorbikes, the establishment of a boda-boda riding school (Watu Shule) to enhance road safety, and the development of charging and battery swapping stations for electric bikes.

Additionally, Watu has ventured into offering pre-owned motorbikes, further demonstrating its commitment to the sector’s growth and sustainability.

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