Boda boda want low interest loans
Oct 03, 2010
BODA-boda operators in Jinja municipality have asked the Government to help them acquire low interest motorcycle loans.
By Charles Kakamwa
and Doreen Musingo
BODA-boda operators in Jinja municipality have asked the Government to help them acquire low interest motorcycle loans.
They said the move would help them alleviate poverty and allow them benefit from development programmes.
The cyclists said most of them live in abject poverty because they hire motorcycles yet the owners demand high fees on a daily basis.
Simon Tagaba, who operates at Nile Avenue stage, said such a scheme would work better than the Prosperity-for-all programme whose requirements, he argued, are not easy to fulfil.
He noted that most of them lack collateral security to access loans from financial institutions.
“We have to remit revenue to the owners of the bikes on a daily basis. If the Government gives us the motorcycles, we will use such money to service the loans, knowing that we are paying for property we will retain,†Tagaba, who has been in the business for eight years, said.
According to Tagaba, they pay between sh8,000 to sh10,000 everyday to the motorcycle owners yet they make about sh20,000 and sometimes as low as sh6,000 a day.
Charles Sekate, who operates at Mpumudde Market stage, said through the leadership committees of each boda boda stage, the Government would easily recover its money.
According to Eria Musobya, the chairman of Jinja boda boda operators, there are 127 stages and about 4,000 cyclists in the town.
and Doreen Musingo
BODA-boda operators in Jinja municipality have asked the Government to help them acquire low interest motorcycle loans.
They said the move would help them alleviate poverty and allow them benefit from development programmes.
The cyclists said most of them live in abject poverty because they hire motorcycles yet the owners demand high fees on a daily basis.
Simon Tagaba, who operates at Nile Avenue stage, said such a scheme would work better than the Prosperity-for-all programme whose requirements, he argued, are not easy to fulfil.
He noted that most of them lack collateral security to access loans from financial institutions.
“We have to remit revenue to the owners of the bikes on a daily basis. If the Government gives us the motorcycles, we will use such money to service the loans, knowing that we are paying for property we will retain,†Tagaba, who has been in the business for eight years, said.
According to Tagaba, they pay between sh8,000 to sh10,000 everyday to the motorcycle owners yet they make about sh20,000 and sometimes as low as sh6,000 a day.
Charles Sekate, who operates at Mpumudde Market stage, said through the leadership committees of each boda boda stage, the Government would easily recover its money.
According to Eria Musobya, the chairman of Jinja boda boda operators, there are 127 stages and about 4,000 cyclists in the town.