Tuktuk Drivers Prove Chama Power, Buy Bus from Savings
Tuktuk Drivers Prove Chama Power, Buy Bus from Savings
A self-help group of tuktuk and motorbike operators from Ongata Rongai, Kajiado County, has taken a major step forward in growing their business.
Through consistent savings and strong teamwork, they have successfully acquired a 33-seater minibus to expand their transport services and improve household incomes.
Equity Bank Steps In to Support Growth
This achievement was made possible through an Asset Finance facility from Equity Bank Kenya, Rongai Branch. The facility came at a crucial time, offering the chama timely financial support during a key phase in their development.
Alex Muthama, Chairman of the Nyoroma Self-Help Group, expressed gratitude to the bank, noting that unlike other institutions, Equity welcomed them with open arms.
In addition to offering financial support, Equity provided free financial literacy training and guided the group through the process of saving, borrowing, and accessing asset financing under its Pamoja Banking model.
“Our group has 50 members. When we decided to invest in the transport business, most banks dismissed us. Fortunately, Equity believed in our potential. They trained us while we saved and eventually financed this bus. We plan to keep growing with them,” Muthama said.
Tuktuk Drivers Prove Chama Power, Buy Bus from Savings
Commitment to Empowering Communities
During the handover ceremony at the Rongai Branch, Benson Githae, Nairobi East Regional Relationship Manager for Asset Finance, reaffirmed Equity’s dedication to simplifying the asset acquisition process.
“We aim to help individuals and groups transform their lives and realize their investment goals. Whether it’s a school bus or a business vehicle, Equity is the partner of choice,” he explained.
Moreover, he encouraged youth and women’s groups to embrace the bank’s flexible Asset Finance products.
Pamoja Banking: A Model That Works
Additionally, Mercy Ogendo, Nairobi East Regional Manager for the Pamoja Banking product, highlighted the strength of group-based banking. This model empowers self-organized groups by offering training, flexible loans, and hands-on support.
“Unlike traditional lending models, we assess social capital and repayment discipline instead of physical collateral. This group’s commitment and discipline are a clear example of what’s possible,” Ogendo said. Importantly, each group is assigned a Relationship Manager for personalized training and ongoing support.
An Open Invitation to Scale Up
Furthermore, Moses Munene, Rongai Branch Manager, congratulated the group and invited others to take advantage of Equity’s tailored financing solutions for asset acquisition and working capital.
“We’re proud to celebrate this milestone with them. We’re ready to walk the same journey with other groups and entrepreneurs who are looking to grow,” Munene said.
Looking Ahead: More Than Just Buses
Equity Bank is now calling on schools, entrepreneurs, and organizations to explore its short-turnaround, flexible asset financing options.
These include trucks, pickups, and specialized equipment in agriculture, industrial, medical, IT, construction, and mining sectors.
