By Faith Anene
Boda boda operators in Kakamega County are set to benefit from a financial literacy program rolled out by asset financing firm Mogo, aimed at promoting responsible borrowing and improving the financial wellbeing of riders.
The initiative targets boda boda operators and SACCO leaders in the county, equipping them with practical knowledge to help grow their incomes sustainably while avoiding debt-related challenges that have affected many riders in the sector.
Through the training, participants are taken through the full loan cycle, including guidance on when it is appropriate to take a loan, borrower responsibilities, how interest rates are calculated and the steps to take in case of repayment difficulties. The program is designed to help operators make informed financial decisions and better manage their earnings.
As part of the initiative, Mogo has also introduced the Mogo App, a mobile application that allows customers to track loan repayments, view payment schedules, monitor arrears or overpayments and download statements. The app is expected to improve transparency and accountability in loan management among boda boda operators in the county.
Speaking during the training, Mogo community and events manager Sheila Wangari Nuni said the company recognises the important role boda boda operators play in local economies.
“Fo that reason, we are committed to supporting your financial growth through education,” she said.
Boda boda leaders in Kakamega welcomed the program, saying it is poised to help riders focus on business growth and reduce the financial strain caused by poor borrowing decisions.
Kakamega County Boda Boda Chairman Peter Ochango said the training will empower members to manage their finances better.
“This will help in avoiding debts that have negatively affected families and livelihoods,” he noted.
According to recent industry reports, a boda boda operator earns an average of Sh1,100 per day, but many struggle with saving and meeting household needs due to limited financial planning skills and the burden of unsustainable debt.
Experts say targeted financial education at the county level is key to helping riders build sustainable livelihoods, and long-term financial security.
