The Finance Officer, CPA. Jared Rading’ presenting a certificate to one of the participants.
Masinde Muliro University of Science and Technology (MMUST) on 14 May 2024, empowered Busia County Boda Boda operators with essential Financial Literacy, Business Management, and Entrepreneurial skills for long-term investments and their economic growth. The training aimed at bridging financial management gaps and equipping them with skills to help them navigate economic shocks, attain wealth, and manage their finances better. The University trained more than 200 ‘Bodaboda’ riders and awarded certificates of participation to the participants.
This Corporate Social Responsibility event was steered by the Finance Officer, CPA. Jared Rading’. While presenting on ‘Financial Management’ he noted that financial literacy is the keystone of sustainable economic development, adding that the training is critical in exploring vast business opportunities.
The Finance Officer, CPA. Jared Rading’ explains a point during the training.
“We are happy to work jointly with the informal sector. This sector plays a pivotal role in growing the economy from the grassroots level. Therefore, it is important to support them with relevant knowledge and skills that will promote their businesses,” said CPA Rading’.
Presenting on ‘Personal Finance, Bookkeeping, and Savings,’ CPA Michael Lung’ayia encouraged the participants to maintain proper accounts of their expenses, savings, and income.
“I urge you to set individual goals, desires, and a plan to fulfill those needs within your financial constraints. To make the most of your income and savings, it is essential to become financially savvy. This will help you to regulate over expenditures,” said Mr. Lung’ayia.
CPA Michael Lung’ayia making a presentation during the training.
The other members of staff who participated in the outreach activity included Mr. Fred Onaya, Mr. Patrick Kivale, Ms. Betty Matianyi, Ms. Jemimah Minyoso, Ms. Joan Obilo, and Ms. Christine Maero.
The Chairperson of the Busia County Bodaboda Association, Mr. Boniface Okumu making his remarks during the training.
The participants hailed the program, saying that financial management is the main challenge they face and that this training will help them stabilize their businesses. “We are glad that MMUST has opened our eyes and enlightened us on diverse ways we can be financially prudent,” said Mr. Boniface Okumu, the Chairperson of the Busia County Bodaboda Association.
A section of the participants.
The ‘Bodaboda’ sector is one of the largest employers in Kenya. However, the people in this sector lack the knowledge on how to properly use and take advantage of the opportunities available to them. This training exemplifies MMUST’s commitment to uplifting the financial status of the individuals in the informal sector this will go a long way in contributing to the growth of the economy as well as boosting their livelihoods.
Photos and Story by Linet Owuor
