Watu, a Pan-African asset finance company, has issued 2,000 logbooks to boda boda riders in Malindi, Kilifi County.
This is part of its nationwide initiative to distribute the 70,000 uncollected logbooks to customers who have completed their loan repayments.
At the same event, Watu repaired mobile phones for customers under its Watu Simu program and installed or repaired GPS trackers on motorcycles to curb theft and enhance security.
The event aligns with Watu’s broader efforts to support boda boda riders beyond financing by ensuring full ownership of their assets and access to essential maintenance services.
Chris Rumenda, Watu Kenya’s Head of Commercial, emphasized that Watu’s commitment extends beyond financing to long-term customer empowerment.
He said we are taking proactive steps to facilitate the collection process and ensure full ownership of the assets for our customers.
“Our goal is to ensure that all customers who have completed their loan repayments receive their logbooks, strengthening their financial independence. We also ensure our customers’ livelihoods remain uninterrupted by repairing GPS trackers and mobile phones. We are proactively facilitating the logbook collection process to ensure full ownership for our customers,” he stated.
Watu has embarked on a countrywide campaign to distribute over 70,000 uncollected logbooks. Many customers have completed their payments but have not picked up their documents, limiting their ability to use motorcycles as collateral for future financial needs.
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Since 2015, the company has financed 500,000 motorbikes, tuk-tuks (three-wheelers), and electric bikes in Kenya.
In the connectivity market, Watu has financed over 1.2 million smartphones in Kenya since 2022, underscoring the company’s catalytic role in democratising smartphone access across Africa.
The company has financed 1.9 million devices continent-wide across all its African markets.
Beyond financial services, Watu continues to invest in the boda boda sector through initiatives such as Watu Shule, a dedicated riding school to enhance road safety, and equipping boda boda regional offices with essential supplies to support riders’ daily operations.
The boda boda sector is a critical pillar of Kenya’s economy, supporting over 1.2 million riders and playing a key role in job creation, goods transportation, and service delivery.
By addressing critical challenges such as asset security and ownership documentation, Watu continues to shape a more sustainable and financially inclusive future for boda boda operators across Kenya.
