Saving culture helps Nanyuki boda boda operators build Ksh.150 million estate

A strict savings culture has enabled motorbike operators in Laikipia County under the Nanyuki Boda boda Sacco (NABOSA) to construct a Ksh.150 million estate.

By saving Ksh.50 daily, the boda boda operators have been able to create permanent residents for themselves and their dependents while also creating new job opportunities for members.  

“Our intention was to stop living in rentals and get our own places so we decided to start making daily contributions to build the houses. The bank told us that the capital needed to begin construction for each individual house was at least 20 per cent of the total Ksh. 700,000 so we started making contributions and by December 2016 majority of us had saved the 20 per cent,” Patrick Waithaka, the NABOSA Chairman, told Citizen TV.

With the bulk of the operators reaching the minimum capital requirement, the members began construction works in 2017.

“In 2017 we began construction and we were able to erect the houses. In 2018, the first sixty houses were handed over to the respective owners. But we still continued with building because our aim was to build 120 units,” Waithaka explained.  

Rather than spending money on paying rent, NABOSA encouraged all its members to save and make the daily contributions which has seen some members also buy personal cars and business trucks.

“I used to stay in an estate called Lion’s Court in a one bedroom house that cost Ksh.7,000 per month and right now as you can see I don’t pay rent anymore and I have my own house,” James Kamiti, a member of the sacco, said.

“The money that I used to pay rent I now save and even if the house is small at least I can pay back my loan, feed my family and continue on with my life.”

The boda boda operators consequently called on youth to adapt a savings culture saying it will enable them to comfortably plan for their futures.

“We tell the youth and boda boda operators that once you get paid before spending you should set aside some of it and save it. A daily Ksh.50 contribution from our members has enabled us to build all these houses,” Moses Njoroge, Vice Chair NABOSA, stated.