Eldoret: A financial literacy program specifically targeting boda boda operators was launched in Eldoret, Uasin Gishu County, focusing on enhancing loan awareness, repayment transparency, and motorcycle security among riders. The initiative gathered boda boda operators' leaders from across Eldoret to discuss understanding loan terms, interest rates, repayment progress, and responsible borrowing.
According to Kenya News Agency, the program is designed to guide riders before taking loans, during repayment, and at completion to reduce misunderstandings that often arise from rushed borrowing decisions. Speaking to the media, MOGO Community and Events Manager Sheila Wangare stated that the program aims to address information gaps that leave borrowers vulnerable. She emphasized the importance of ensuring that customers understand loan terms, interest rates, and their repayment progress to complete their loans on time.
Sheila Wangare also highlighted that the MOGO app allows riders to track payments and outstanding balances, improving transparency and reducing disputes. Calvins Owuor, in charge of debt collection in the Western Region, noted that the company promotes cooperation rather than confrontation in loan recovery, highlighting that debt collection should not make customers feel harassed or frustrated.
Owuor further explained that GPS trackers installed on motorcycles are intended solely for security purposes, helping recover bikes in case of theft. He urged riders to respond promptly when notified of GPS signal issues, with repairs being done free of charge. Owuor highlighted that motorcycle theft often results from weak security measures by owners and emphasized that safeguarding bikes is a shared responsibility between riders and financiers.
Boda boda operators welcomed the program, citing that it addressed long-standing concerns. James Onsando, vice chairman of the Boda Boda Association in Uasin Gishu County and a loan beneficiary, said riders have often struggled to clearly understand their exact loan balances and repayment status. He noted that the mobile app has simplified access to information, reducing confusion and saving time.
Onsando also mentioned that the financial literacy sessions encouraged riders to develop saving habits alongside their daily work, with flexible repayment plans making motorcycle ownership more attainable for riders who cannot afford to buy bikes outright. The program, which has previously been conducted in other regions, is expected to be rolled out to additional counties, targeting boda boda leadership structures to reach riders at the grassroots level.