A group of drivers and conductors from Kitengela has successfully ventured into the matatu ownership business, marking a significant transformation from employees to entrepreneurs. Ornamental Self-Help Group, a collective of 13 members, celebrated the acquisition of a new minibus for commuter transport, thanks to a chama investment loan from Equity Bank’s Kitengela branch.
At a colorful handover ceremony held outside the bank’s branch, Samuel Mungai, the Chairman of the group, expressed heartfelt gratitude to Equity Bank for the financial support that made the dream of owning a matatu a reality. “Equity wametuonyesha wanajali maslahi ya customers na wanasikiza shida bila kubagua. Hii matatu tumenunua na loan yao,” Mungai said, acknowledging that the partnership began in 2018 with a modest savings deposit of Ksh7,000.
The group’s journey with Equity began several years ago when the members learned about financial literacy, savings, budgeting, debt management, and investment strategies. According to Mungai, it was the financial training and guidance from the bank that helped them build the discipline to save and manage finances effectively.
“We are thankful to Equity for their unwavering support, and we are now proud owners of a matatu. This journey started with just a small savings of Ksh7,000, and today, we have something tangible to show for it. We are determined to continue strengthening this relationship with Equity until each member of the chama owns a vehicle,” Mungai added, emphasizing the group’s plans to increase their weekly savings towards acquiring more vehicles.
Equity Bank Kenya’s General Manager for Pamoja Banking, Benignas Muema, who also attended the ceremony, commended the group for their dedication and discipline. Muema encouraged other community groups, including women’s and youth groups, to consider visiting Equity branches for partnerships in financial literacy and entrepreneurship training. He highlighted that the bank’s goal is to foster a culture of savings, support customer initiatives with flexible security requirements, and promote economic empowerment through income generation.
“We are excited to celebrate this success with Ornamental Self-Help Group. Our aim is to support customers in their endeavors and enhance livelihoods, creating opportunities that go beyond just financing vehicles. As we help grow businesses, we also aim to contribute to the broader economic development,” Muema stated.
Winnie Karani, the Branch General Manager for Equity Bank Kitengela, also reaffirmed the bank’s commitment to supporting businesses, particularly those in the public transport sector. “Today marks a significant step towards progress and growth as we flag off this minibus. Asset financing is not only about vehicles and equipment but also about creating jobs, improving livelihoods, and driving economic growth,” Karani said. She also highlighted a range of solutions available to customers, including working capital financing and other financial tools.
The newly acquired minibus adds to the fleet of over 80 vehicles currently operating along the Nairobi-Kitengela route under the renowned Rembo Shuttle Services. Joseph Mwangi, the CEO of Rembo Shuttle Services, expressed his appreciation for the ongoing partnership with Equity Bank and its role in enabling the growth of their transport business. “Equity has been a valuable partner in the expansion of our fleet through affiliate member groups like Ornamental Self-Help Group. Their support has been key in helping us grow,” Mwangi remarked.
The acquisition of this minibus is more than just a business milestone for Ornamental Self-Help Group; it symbolizes the power of financial literacy, collaboration, and determination in transforming lives and creating opportunities. As the group sets its sights on growing its fleet, it stands as an inspiration to other communities in Kitengela and beyond, proving that with the right financial tools and support, even the most modest beginnings can lead to lasting success.
This partnership between Equity Bank and Ornamental Self-Help Group is a testament to the importance of financial education and inclusive financial solutions in promoting entrepreneurship and economic growth. It also highlights the increasing role of self-help groups in driving business development and creating sustainable job opportunities in Kenya’s transport sector.
