The Governor of Meru County Kiraitu Murungi has today announced that his government is working to empower ‘Bodaboda’ business operators through a micro-lending program which will be spearheaded by the County Department of Cooperatives.
Governor Kiraitu announced that his administration has set aside Sh17 million which will be lent out to the operators through organized groups and saccos in the sector as a revolving fund.
He called on all the operators in the County to come together and form a County Bodaboda Operators Union so that the challenges in the industry such as ‘shylocking’ and other bad loan and financing practices alongside other problems they face can be addressed in a systematic process.
“The Bodaboda sector is currently the fastest growing industry in the country and it is rapidly becoming an integral part of our economy, which is why the players need to be organized. It is no longer possible for government to deal with each individual operator or small groups in addressing myriad of challenges that have accompanied this unprecedented growth,” the Governor observed.
He spoke when he met leaders of Bodaboda Operators from across the County at Kaaga Methodist Church grounds.
The Deputy Governor Titus Ntuchiu issued a strong warning to money lenders who are exploiting the operators through exorbitant loan interest rates where it is reported that in some instances, the operators have been forced to pay as much as four times the cost value of one motorcycle.
He called on all dealers who have been authorized to do business with the sector operators in Meru County to do their business without employing oppressive that hurt the operators. He called on them to do the business with the operators in good faith, just as the County has guaranteed them room to do their work in good faith.
Content created and supplied by: @ChiefKe (via Opera News )
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