Watu Credit Kenya and Boda Boda Association of Kenya have partnered to host a series of financial literacy clinics for boda-boda (motorbike) riders.
These clinics will provide an opportunity for Watu Credit Kenya to directly engage and connect with its customers. By listening to their feedback and addressing their concerns, Watu aims to ensure timely loan repayments, reduce instances of repossessions, and ultimately empower riders to achieve financial stability and responsible financial practices.
The first round of the clinics, which aim to empower the riders with essential financial literacy skills to manage their finances effectively, was held in Molo town, Nakuru County.
“We view our customers as partners, not adversaries, and we are not at war with them. We acknowledge the current tough economic times, and the clinic provided us with a platform to listen to our customers and assure them that we are here to support them in navigating and addressing any challenges they face,” Erick Massawe Country Manager for Watu Kenya said.
“By investing in our customers’ financial education, we are confident in creating a ripple effect of positive change across the country fostering a culture of responsible financial behavior and economic empowerment in line with the government’s bottom-up economic agenda.”
During the clinic, participants had the opportunity to engage with the company representatives, share their challenges, and receive assurance of Watu’s commitment to working collaboratively with them. Beyond financial literacy, the event also served as a platform to advocate for the mainstreaming of the boda-boda sector, to improve the riders’ livelihoods, and improve industry ethos and practices.
“With the support of the legislators, we aim to advocate for policies that promote the sector’s growth, improve safety standards, and cultivate ethical practices within the industry,” Victor Getenya, Watu Credit Kenya’s Sales and Marketing Manager said.
The boda-boda sector plays a crucial role in Kenya, supporting over 1.2 million individuals in accessing employment opportunities, transporting goods, and providing essential services.
“We believe that financial literacy is the cornerstone of sustainable economic development. Our partnership with Watu Credit Kenya empowers our members with financial knowledge. This is a sustainable way to create a positive impact within the communities,” Boda-boda Association of Kenya Chairman Kevin Mubadi said.
Watu Credit recognizes the significance of the boda-boda sector and is dedicated to supporting its customers beyond financial assistance. Over the years, Watu has undertaken various initiatives to support the bodaboda sector with the introduction of non-financial initiatives including, the introduction of electric motorbikes, the establishment of a boda-boda riding school (Watu Shule) to reduce road accidents, the development of charging and battery swapping stations and introduction of a pre-owned motorbikes.
