Nairobi, Kenya – President Uhuru Kenyatta told Motorbike riders to develop a strong saving culture to avoid being used by selfish individuals who are only seeking their interest.
Speaking at Pumwani Social hall in Majengo area in Nairobi County on Friday, President Uhuru challenged motorbike riders to work hard knowing that it is through hard work that they can prosper.
He cautioned the riders to desist from depending on handouts but build strong personal integrity. “Your own personal integrity, the way you handle yourself, the way you handle the resources and assets of others will create an ability of those that you lead to trust you.
He added, “The more they trust you, the more they will save, the more chances that they will become together with yourselves successful entrepreneurs in this country who can shape and transform our economy through hard work.”
He also presided over an agreement between Boda Boda Safety Association of Kenya, Capital Markets Authority, Rubis Energy, and NABO Capital that will see the sector operators across the country access products from partners at a negotiated rate.
The scheme is aimed at allowing the operators to save and invest for their future by making a daily contribution of USD 05. Members of the scheme will benefit from discounted rates from various service providers.
For instance, the riders will enjoy a $0.03 and $0.1 discount on a litre of super petrol and a kilogram of cooking gas respectively from Rubis Energy which has a network of 310 petrol stations spread across the country.
He noted that the sector mints billions of money annually as a result of a huge amount of cash handled by operators daily. “With an average daily earning of 700 shillings a day, the sector’s annual earnings are estimated at 357 billion shillings. Every single day, Boda Boda operators collect 980 million shillings,” the President noted.
He said the Boda Boda sector had grown into a multibillion industry within a concise duration adding that, if well managed, it had the potential to make even more money.
To illustrate his point, the President said the 1.4 million known riders in the country collect an average of Kshs 180 million daily, which amounts to Kshs 6.8 billion in a week and Kshs 27 billion every month.
Despite the impressive collections, the Head of State regretted that Boda Boda operators continue to suffer economic hardships because of the disorganization in the sector.
President Kenyatta, therefore, lauded the formation of the investment scheme and pledged continued Government support to the sector which he applauded as a key mover of the Kenyan economy.