For Kenya’s boda boda riders, earning a living has often been a daily struggle. Limited access to formal credit and lack of collateral has historically kept many out of banking systems, leaving them reliant on informal lenders with costly and rigid terms.
Today, alternative mobility financing is transforming livelihoods, helping riders acquire motorcycles and smartphones, expand businesses, and support their families.
In Migori County, 34-year-old Charles Mwita Kuria recalls the pressure of trying to make ends meet while working as a night security guard.
“School fees were piling up, rent was due, and life was becoming unbearable. Informal lenders gave me money, but under terms that were a trap. Getting a motorcycle through a rider-focused financing plan gave me a starting point,” Kuria said.
In 2021, Kuria left his job and entered the boda boda business, acquiring a motorcycle through Watu Credit. Within 18 months, he had fully repaid the loan, moved his family into a better home, and secured a steady income from daily rides, earning between Ksh.2,500 and Ksh.3,000 per day. His next goal is to open a small business for his wife, diversifying their income further.
Kuria is one of thousands of riders whose fortunes have shifted through asset financing. Watu Credit, which operates across 8 African countries and recently expanded to Mexico and Brazil, has financed over half a million motorcycles and more than four million smartphones in recent years.
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