The Lamu West MP, Stanley Muthama has urged boda boda operators to join SACCOS, in a bid to help them grow their businesses.
Speaking to boda boda operators in Mpeketoni town on Wednesday evening, the MP noted that Saccos in Lamu County would help boda boda operators in their venture, which is now a thriving business in the county to save up and buy PSV vehicles.
Most of the youth are reaping the benefits of boda boda business, which has proved to be beneficial to hundreds of unemployed youths, and it is only by forming or joining existing Saccos that youths can aspire to own Matatu fleets, Muthama stated.
The legislator added that youths in other counties were benefiting, by getting together to buy PSV vehicles, through Saccos, which he said earns more revenue.
Boda Boda businesses are thriving in Lamu, especially in Lamu Islan, where previously there had been a blanket ban on their operations in a bid to maintain the Island’s World Heritage Site profile.
However, the business in both Lamu’s mainland and islands was a budding sector for youths who are earning as much as Kshs3, 000, a day due to lack of PSV vehicles in the area.
He underscored the need for more Saccos to be formed to provide savings and credit facilities for youths who may not have ready access to loans for businesses from banks.
I wholly support Sacco initiative for going forward in Lamu County, as many youths are helpless, since they cannot get loans from the banks, as they are categorized as Jua Kali and cannot get guarantors, the MP said.
He further called on the Ministry of Cooperatives to broaden its scope to Lamu, and provide skills on how Saccos can be formed and properly managed.
Source: Kenya News Agency