President Uhuru, on Friday, October 23, presided over the signing of a major partnership between Boda Boda Safety Association of Kenya (BAK), Capital Markets Authority, an oil marketer and an investment firm. The ceremony was held in Pumwani, Majengo, Nairobi County.
The Head of State, delved deep into the intricacies of how boda boda operators could soon call the shots if they took heed to his advice.
"Boda boda industry is a sleeping giant that needs to be awakened which is why boda boda investment scheme is a great idea. Every individual should take pride in paying the price for what they want. If you do not pay the price, someone will pay to misuse you," said Uhuru.President Uhuru Kenyatta in Kisii on Mashujaa Day October 20, 2020.PSCU
The president also questioned the poverty state among the boda boda sector which accumulates over Ksh 27 billion on a monthly basis.
'Every year, in totality, boda boda industry makes Ksh 357 billion Boda boda association if together, would make more than what the Government gives to the 47 counties. If you collect almost Ksh1 billion every day, why does every boda boda rider cry of poverty?"
"The boda boda sector supports, directly or indirectly, 5.2 million Kenyans which accounts for 10% of the population. This means that one in every ten Kenyans makes his livelihood because of the business that you do," the President emphasized.
He noted that cooperation among the members of the association would realise insurmountable benefits. He urged the association to continue with the drive and determination needed in order to make the scheme successful.
He advised the association to always consider paying themselves first before carrying out any other operations pertaining to the business alluding to the success of forefathers who took initiatives and managed to sustain their families. He pointed out that the scheme ought to invest Ksh25 billion out of Ksh357 on a yearly basis. This, he pointed out, was aimed at investing in a better future.
"If the working life of a boda boda is 10 years after which he joins another sector, then this scheme offers a safe landing for him outside the said industry. My government is in full support of this association.
"My advice is to tell you to leverage your numbers.. look at things not in an individual aspect, but in a collective point of view. At times you'll have to make unpopular decisions hence the reason why I came with a lean team. But always think of yourselves first and be careful not to be swindled based on political grounds, " Uhuru said.
Another issue the President identified was the trust deficit among Saccos as leaders are fond of fleeing with the contributions made by the members. He cautioned against this action and encouraged a culture of trust and integrity among members and their leaders.
While finishing his remarks, he touched on his prior visit to the Kisii boda boda operators who, he stated, preferred to be awarded a small amount of money to be divided amongst themselves as compared to a huge contribution they requested for their Sacco. He urged the members to be accountable by constantly checking their transactions from their phones and not rely on their Sacco leaders.
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