A Chama of drivers and conductors in Kitengela has gone from working on the matatu crew to proudly owning their own minibus.
Ornamental Self-Help Group, made up of 13 members, Thursday, January 9, celebrated the acquisition of their very first matatu.
However, the journey was not an overnight success. The group decided to form a Chama in 2018 with only Ksh7,000 at hand.
“We bought this minibus with their loan. This partnership with Equity Bank began with Ksh7,000 in 2018,
“Equity has shown us that they care about customer interests and listen to our challenges without discrimination,” Samuel Mungai, the chairman of the group stated.
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How the Chama Successfully Bought the Matatu
The group successfully made the acquisition through a chama investment loan from Equity Bank Kitengela branch.
The group chairman Mungai explained that they had to take lessons on essential financial skills, from saving and borrowing to budgeting and investing, through training provided by an Equity officer.
Consequently, they became more disciplined with their savings and smart about managing their finances.
Further, the group stated that they still have plans to increase their weekly savings to reach this goal.
“We’re not stopping here, we are determined to continue with Equity until every member of this group owns their own matatu,” added Mungai.
Also Read: Equity Bank Announces Cheaper Loans
Equity Holds Ceremony for the Group
Benignas Muema, Equity Bank Kenya’s General Manager for Pamoja Banking, was on hand to congratulate the group and encourage others to follow in their footsteps
The ceremony, held outside the bank’s branch, was filled with excitement as the group received their car keys.
“We aim to support customers, finance their initiatives with flexible security requirements, promote a savings culture, and increase income levels for individuals and businesses,” said Benignas.
Additionally, Equity Kitengela Branch BGDM Winnie Karani also took the opportunity to talk about the bank’s commitment to the public transport sector.
She explained that asset finance goes beyond just vehicles and equipment. and is about creating jobs and boosting livelihoods.
This new matatu will join over 80 other vehicles on the Nairobi-Kitengela route, operated by Rembo Shuttle Services.
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