Watu is an Asset FinTech revolutionising mass-market mobility across Africa through financial inclusion and accessibility. How to start a boda boda business in Kenya
At a median age of 18, Africa is the youngest continent globally and is growing at an unprecedented rate. With an estimated 1.2 billion person growth in the next ten years, Watu is committed to transforming urban mobility and the financial lending landscape. We are continuously helping to shape a brighter and better future by giving people opportunities to build and change the course of their lives.
By providing access to affordable and flexible financing for two and three-wheelers, we have provided over 600,000 loans across 7 countries and positively impacted the lives of more than 3.6 million people. We are also actively promoting financial literacy and independence, adoption of digital payments and increased regulatory and safety compliances.
Here’s what you need to know about starting your own boda boda business in Kenya:
How to begin your journey today!
Starting a business is an exciting time filled with endless possibilities! Below are a few thought starters as you commence your journey to success:
- Set your goals and be confident in achieving them beyond expectations.
- Calculate all the initial costs and create an action plan for your business. This will also assist you in knowing the type of boda boda available within your budget.
Buying a brand new motorbike in Kenya is quite costly, especially during these uncertain times when everyone is trying to make ends meet. If you don’t have sufficient capital to begin your business immediately, Watu offers flexible and affordable asset financing to entrepreneurs. With the lowest weekly payments in Kenya, we’re providing Kenyans with more opportunities to grow their livelihoods.
Learn how you can get a boda boda loan from Watu in Kenya!
- When looking for the most suitable boda boda, some of the brands you can get at Watu include:
- TVS
- Bajaj
- Car & General
- Haojin
- Skygo
- Sonlink
- Tiger
- Honda
- Lifan
- Jincheng
Picking the right boda boda brand to start your business is time consuming and can be a tedious process. Are you struggling to find the right provider that will give you all the information you need and the loan options available? Then look no further! With 54 locations across Kenya, Watu understands every region and we have invaluable insights into how your boda boda business can thrive anywhere.
Looking for Watu? Visit us today!
Getting your boda boda on the road
Before you begin your journey, it is mandatory to comply with these ordinances and regulations:
- Driving license & insurance
In compliance with the Kenyan traffic rules, you must have a valid driving license. If found without or with an expired drivers license, you will be fined and run the risk of getting your boda boda impounded. You can now get smart drivers licenses or new generation driving licenses, which were introduced in Kenya in 2018 with a chip that collects data and ensures compliance with the existing traffic laws. At Watu, we care about the well-being of our boda boda riders, and we have entered into a strategic partnership with the NTSA to share road safety tips and what they need to know while on the road.
Boda boda riders in Kenya have to get third party insurance to protect their passengers in case of accidents, which ensures that the passenger is compensated but does not cushion the rider in any way. A Watu boda boda loan comes with comprehensive insurance that protects you in case of theft, fire, vandalism and accidents. This cover is valid for 12 months, and it’s renewable thereafter. In the event of an accident, your insurance provider will only compensate you if you have a valid driving license.
Learn more about Watu’s comprehensive insurance cover.
- Boda boda stage
Once you start ferrying passengers from one place to another, you will be required to register as a boda boda rider of a particular stage. This is where you’ll mainly be working from and you will be allowed to move freely within the general area for a small fee. Each stage is controlled by a chairman and has its own rules and regulations.
Do you think you’re ready to start your own boda boda business? For more information, contact us today!
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