West Pokot County Government has embarked on a massive cooperative investment in bid to pool resources and create wealth for youths who turned into businesses after shunning engaging in banditry and cattle rustling activities.
The County Government has unveiled Kshs 40.5 million Co-operative Development Fund channeled through SACCOs and cooperatives. Through the fund, WEPESA Sacco has enabled bodaboda operators to purchase 100 motorbikes through loans.
Members of the SACCO can acquire motorcycles for business by securing a loan at a minimal down payment of Kshs 20,000.
Others which have received money from the county development fund are Kaptabuk, Muruny and Kamelei milk cooperatives and more are set to benefit after meeting the requirements.
The funding, in addition, enhances access to loans and cushions residents against exploitative money lending institutions.
Speaking yesterday at Chepareria market while launching the cheque to beneficiaries, area Governor John Lonyangapuo noted that the overall goal of the cooperative was to empower its members and citizens of West Pokot socially, economically and create wealth for the county.
“This is a new model with good products . A board has also been constituted to manage it.
We want to uplift every household. We need to empower our people and work as a team. Many have joined Silk Groups and have been empowered economically, “he said.
He cited that the contribution of the bodaboda industry to Kenya’s economy cannot be underscored.
Lonyangapuo explained on the importance of joining cooperation such as Sacco to improve their livelihood, adding that some of the benefits that could come from such venture including; developing a saving culture, receiving loans at low interest rate from the Sacco, dividends as members will have one voice when aggrieved, they will be job creation.
“We have moved to improve the lives of over 5000 boda-boda riders who are members of the Sacco in West Pokot County by offering them quick ways of acquiring Boda Boda loans,”he said.
He added that the Boda boda industry is becoming entrenched as a major part of our economy and a source of employment and livelihood to many people.
“ Access to saving and credit facilities is crucial for the continued growth of this sector and West Pokot Economic Sacco (WEPESA) has provided a perfect platform,”he said.
During the event, beneficiaries of WEPESA Sacco loans testified how their livelihoods have improved significantly. Cooperatives Chief Officer in the County Ms Milka Psiwa said that criminal activities in the region have reduced after youths were uplifted.
She said that the move is in line with his manifesto of education, economy and Equity. “Those who were idle are now busy. Residents can now pay fees and the economy of the area has grown, “she said.
The Chairman of Boda Boda Sacco in the County Mr Moses Kasiwa said that the program has benefited many Youths who have been transformed. “Boda boda riders pay Kshs 20,000 and 300 every day and are given a motorbike, ”he said.