The Nyoroma Self Help Group, a collective of tuktuk and boda boda operators in Ongata Rongai, has taken a significant step forward in their transport business by acquiring a 33-seater minibus. The milestone was celebrated at a handover ceremony outside Equity Bank Kenya’s Rongai Branch, made possible through an asset finance loan from the bank.
Alex Muthama, Chairman of the 50-member Nyoroma Self Help Group, praised Equity Bank for their support, noting that other banks had turned down their financing requests. “Equity embraced us, provided financial literacy training, and guided us through saving, borrowing, and accessing asset financing under their Pamoja Banking model,” Muthama said. He added that the group plans to continue saving with Equity to expand their fleet.
Benson Githae, Nairobi East Regional Relationship Manager for Asset Finance at Equity Bank, emphasized the bank’s commitment to simplifying asset acquisition for customers, particularly for vehicles like vans, school buses, and business trucks. “We aim to transform lives and help businesses and groups realize their investment dreams. Our branch teams ensure a seamless process with comprehensive financing solutions,” Githae said, encouraging youth and women’s groups to explore Equity’s asset finance products.
Mercy Ogendo, Nairobi East Regional Manager for Pamoja Banking, highlighted the group-based banking model’s focus on empowering self-formed groups through training, flexible loans, and personalized support. Unlike traditional loans, the Pamoja model relies on social capital, prioritizing group character and repayment ability over physical collateral. “We’re proud of Nyoroma’s saving discipline, which has helped them achieve this milestone. We hope this inspires other groups to join us on their investment journey,” Ogendo said.
Moses Munene, Rongai Branch Manager, congratulated the group and invited more customers to explore Equity’s tailored financing solutions for asset acquisition and working capital. “We’ve walked this journey with Nyoroma, and we’re excited to celebrate this achievement. We look forward to even greater successes together,” Munene said.
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