The Boda boda Safety Association of Kenya (BAK) has partnered with the Capital Markets Authority, Rubis Energy and the NABO Capital, in a move that will see its members benefit from an investment scheme.
The scheme launched at Pumwani Social hall will benefit 1.4 million registered members across the country who have been in the boda boda sector.
Speaking Friday at the launch and signing of the partnership that was witnessed by President Uhuru Kenyatta, ICT, Innovation and Youth Affairs CS, Joe Mucheru said the government has been working closely with the Boda Boda Safety Association of Kenya as the first
cohort of the youth, whom he said have not only transformed the transport sector but the entire country.
“What we are seeing today is that the Boda Boda riders are taking their own initiative to transform the sector, and not waiting for the government as they have heeded the President’s call to be innovative and save their earnings,” said Mucheru.
He said the good plans the association has enabled them to stand up and transform their livelihoods.
The CS thanked President Uhuru for his continuous support to the sector, which he attributed to its growth and assured the riders that the government will continue to work with them closely.
Mucheru at the same time lauded the Interior CS Dr. Fred Matiang’i for ensuring that the sector continued to work hand in hand with security officers and the National Transport and Safety Authority, which has been issuing them with licenses and ensuring they abide by the traffic rules.
He said the Boda Boda Sector is a great contributor to the country’s economy and reiterated the government’s commitment to empower and transform them into responsible citizens.
Speaking at the same event, the Chairman Boda Boda Safety Association of Kenya Kevin Mubadi said the Association formed in 2014 aims at transforming the youth to become vision bearers of the country.
He said the investment scheme will enable the members to save funds as well as develop themselves.
“Members will be required to save Sh50 per day and a fuel card will also enable them to visit Rubis petrol station where they will get a discount of fuel, cooking gas and quality petroleum products,” he added.
“This journey of transformation will ensure that boda boda youth riders are not misused as the money from their savings will empower them economically to start businesses for their survival in future,” said Mubadi.
The chairman assured the government that sector will fully support the Building Bridges Initiative and Huduma Namba, noting that the riders will be the ambassadors of the two programmes.
Mubadi said the sector also recognizes women riders and will empower them to operate without hitches.
Kenya Commercial Bank will act as the corporate trustee and custodian of the Investment Scheme.
By Bernadette Khaduli