- Category: Agri-Business
By UTN Reporter
Kampala - Boda Boda Cyclists in Kampala have launched a Cooperative Society that will enable them access affordable Motor Cycles on credit.
The Union coded Kampala Civic Centre Boda Boda Transporters Cooperative Society-KCCBT was launched today in Kampala with a credit facility named Piki-Credit through which members will be advanced motor cycles with an initial deposit of five hundred thousand shilling-500,000/- only.
The cooperative Chairman William Mubiru says the cooperative has about 130 members, from different boda-boda stages in Kampala and Wakiso districts who are all saving in the society.
He says the cooperative has a vision to provide other several services away from transport including courier services, produce marketing, mechanical services, real estate among other ventures to re-image the industry.
Byte-Chairman William Mubiru
The cyclists expressed gratitude to the service, as one that will elevate their status, enrich them through a bond that focuses on their personal development.
The Piki-Credit initiative is driven by Freedom Fund Enterprise a cooperative arm of Uhuru Institute. A beneficiary is expected to complete the repayment of a loan in 16 months to start off a journey of financial freedom.
The Chief Executive Officer Uhuru Institute Leonard Okello argued the cooperative members to embrace the initiative to have financial freedom. Okello says the members should work to improve the industry by elevating it to another better level by exploring other business opportunities.
Byte-Leonard Okello-CEO Uhuru
He argued the leadership of the cooperative to desist from mixing the functions of the cooperative into politics, as this will crash the entire body and destroy its objectives.
The Boda-Boda industry in Uganda employs up to 7% of the Country's population with majority of whom in urban and semi centres. The industry however is blamed for high levels of unlawlessness, accidents and easily used by selfish politicians to attain personal goals.
The Uganda Police has often initiated training and civic education among the cyclists with limited success reportedly due to low levels of education.