Nabo Capital, a subsidiary of Centum Investment Company Plc, has launched a collective scheme that will provide boda boda riders with a tech-enabled savings and investments platform. The platform will see the boda riders build a nest egg by saving Sh50 per day. Nabo Capital will manage the funds in the Collective Investment Scheme (CIS) for the boda boda riders, under the strict regulations of the Capital Markets Authority (CMA). The scheme will begin by enrolling 100 riders from each of the 47 counties, gradually building up to cover 1.4 million boda boda riders countrywide. The Boda Boda fund shall be the first sub-fund under the umbrella collective investment scheme dubbed Uhuru Sovereign Trust Fund that targets the youth and Kenyans working in the informal sector.

Source: The Star October 24, 2020 10:27 UTC