Watu Credit Limited, a leading asset financing company, hosted the leadership of the boda boda sector from the forty-seven counties at a conference in Nairobi to embark on structured engagements to revolutionise the Boda Boda sector.
At the event dubbed Watu4Watu Boda Leadership Conference, various stakeholders in the sector recommended streamlining the boda boda sector by forming associations that will enhance self-regulation, promote licensing, and the uptake of electric motorbikes for cleaner and more affordable transportation. Other than leaders from the boda boda sector in Kenya, the event was attended by representatives from the National Transport and Safety Authority (NTSA), the Traffic Police Department, Motorcycle Dealers and the BodaBoda Association of Kenya, among other stakeholders.
There are over one million registered boda bodas in Kenya, most of which are used for commercial purposes. Data from the Kenya National Bureau of Statistics (KNBS) shows that new registrations have steadily increased annually, saving for 2022, pointing to the sector’s importance in creating employment and fostering entrepreneurship in the country.
Inside Boda Boda Business in Thika Where Bicycles and Motorcycles Compete for Customers
During the event, Watu Credit LTD signed a Memorandum of Understanding (MOU) with representatives of the boda boda sector leadership in Kenya towards forming a new partnership that will ensure joint participation in enhancing riders’ livelihoods and improving the sector’s ethics.
On his part, Nairobi Regional Police Commander Adamson Bungei urged boda boda operators to exude utmost road discipline and root out criminal elements within their midst. This can best be done by having boda boda operators form associations that will monitor happenings within their areas of operation.
Head of Traffic at Nairobi Metropolitan Service, Boniface Otieno, encouraged boda boda riders to adhere to safety procedures while conducting business. He directed that all riders should be licensed to improve industry standards.
Mr Massawe added,
“We are keen on improving the sector’s quality by building awareness on the need for road service licences for all riders. Watu Shule offers affordable training that is built on testing and licensing. At Watu Shule, we train riders for on-road use for a fee as low as 300 shillings a week. Working closely with NTSA, we ensure the curriculum aligns with the country’s safety guidelines.”
Watu promotes financial inclusion and economic empowerment for entrepreneurs by availing easy access to financing without collateral or bank statements, closing a gap due to conditions required in mainstream financing. The company also provides its customers access to comprehensive insurance coverage, GPS tracking for asset security, and special repair and recovery programs. The company has so far provided over 750,000 loans across seven countries and has positively impacted over 4 million people.
However, 160 boda-boda riders who attended the conference benefited from free helmets, riding suits, and reflectors from Watu.
