Boda boda operators in Thika town launched a Savings and Credit Cooperative Society called Thika boda boda cooperative Sacco on Friday.
The Sacco will enable the Thika boda boda operators to apply for loans and grants from the savings and this will facilitate the efficiency and convenience of their business. This is because their daily income is sometimes not sufficient enough to sustain all their family’s needs.
Speaking during the launch held at Thika stadium, the Thika traffic commandant Apelles Chacha congratulated them for the move and promised to work with them to see success of the Sacco.
He however cautioned the operators to observe traffic rules and avoid ills such as over speeding in order to safeguard passengers’ safety.
"This is awesome, indeed, the youth have decided to grow economically. This is however also a good platform for me to announce huge penalties to any boda boda operator who overspeed and cause accidents in and out of Thika town out of negligence," she said
The traffic guidelines were read out and a copy handed to each member present with the commander warning that stern action will be taken against anybody who is caught defying any of those rules.
The Sacco registration requires a minimum of 100 members and at least a minimum of shillings 20,000 as the deposit to the account.
The sacco has already made a registration of 69 operators who have complied with the set agreements.