Thursday, July 25, 2024

Capital, fees and requirements you need to invest to join Super Metro Sacco

If you are looking to start running a matatu business within the Nairobi metropolitan area, you are highly likely to want to join Super Metro Sacco. This is the matatu Sacco that is highly reputed and highly preferred by many commuters due to its rules and work ethics.

You can join this Sacco using your own self-bought matatu or you can have a matatu financed through this Sacco. If you are considering venturing into the matatu industry and want to join Super Metro Sacco, what are some of the requirements you will need to meet as a new investor? As we take a look at them, it is important that you note that these are estimates which are subject to change:

For a start, you will need to pay a Sh. 5,000 fee for Sacco registration. You will then part with Sh. 10,000 for Share Capital. If you are self financing, you will be required to pay Sh. 50,000 as the entrance fee. If your financing is being facilitated by the Sacco, you need to pay an entrance fee of Sh. 100,000.

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To acquire the standard Isuzu NQR matatu, you will need to raise a 30 per cent deposit out of the estimated total cost of the bus which is currently at around Sh. 6.5 million. This means that you will need to raise around Sh. 1.96 million.

Once you application is successfully processed, you will be given a repayment period of 48 months with monthly installments of around Sh. 121,000. These installments will total to around Sh. 5.8 million. The installments will need to be paid by the 30th of every month through the account of the vehicle.

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There are other fees that you will need to pay including processing fee of around Sh. 65,200, debenture fee of Sh. 20,000, tracking device of Sh. 25,000, TLB at a cost of Sh. 4,500, Comprehensive insurance at a cost of Sh. 55,000 (third party insurance at a cost of Sh. 15,900).

You will also need to pay seasonal fees for at least three counties within the metropolitan area of operation. These include Nairobi, Kiambu, Machakos, and Kajiado counties. The routes currently covered by Super Metro include Nairobi CBD, Makongeni, Thika, Juja Roysambu, Westlands, Kikuyu, Mfangano, Bus Station, Malaa, Kitengela, Kabiria, Ngong, Juja Farm, Regen, Kinoo, Mfangano, and Kahawa West.

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