Innovative Solutions in Micro Enterprise: Kenya Gas Station Success Story
Micro Enterprise Success!
Empowering Dreams: The Kiairugu/Thigaa Bodaboda Operators Filling Station
In April 2022, we funded the dream of 25 enterprising young entrepreneurs to start a filling station in their community.
Opportunity Through Entrepreneurship
These young entrepreneurs, operating motorbike businesses, have been the backbone of their community, providing essential transportation and delivery services. Before receiving a loan from HopeCore exceeding Kshs 1 million (roughly $6200 US) from our Micro Enterprise program, the members underwent rigorous business and road safety training to ensure the success of their ambitious Filling Station project.
Jobs for Local Youth
The Kiarugu Filling Station project created two jobs for local youth. In addition, the group's outstanding organizational skills and responsible management caught the attention of the county government, which recognized their potential. In a gesture of support, the government provided valuable resources, including free tanks, tree seedlings, banana seedlings for planting in their farms, and Kshs 100,000 ($616 US) to expand their fuel stock.
Financial Discipline and Remarkable Achievements
What sets this group of young men apart is their exceptional financial discipline. Despite being considered high-risk by traditional lending institutions, these entrepreneurs consistently made their loan payments, and remarkably, paid off their loan in just 18 months, demonstrating impressive financial responsibility. Moreover, the group met their monthly payments without fail and saved over Kshs 170,000 ($1047 US), which was refunded.
Handing Over Ownership: A Milestone Celebration
We are delighted to announce that the Kiarugu Bodaboda group has officially completed their loan repayment. Their unwavering commitment and financial discipline have truly set them apart as an organized and responsible group. In a symbolic moment, we have officially handed over the Filling Station to the group, making them the full owners and beneficiaries of all income generated.
Celebrating Community Impact
In addition to employing a filling attendant and a watchman, members of the community are actively engaging in businesses near the station, selling items like bananas and porridge to the customers—a significant success for the entire community.
Looking Towards the Future
As the Kiarugu Bodaboda group continues to thrive, they are now working on acquiring individual business loans from HopeCore. This step will enable them to start new ventures or expand their existing businesses, further contributing to their financial impact on the community.
HopeCore celebrates the success of the Kiarugu Filling Station and the incredible achievements of these determined entrepreneurs. Their story is an inspiration, highlighting the positive change that can be realized when a community is empowered with the right resources and support.
_____
Did you know that just $35 pays for one community member to go through Street Business School training?
Donate Today. You’ll be changing a life while you elevate an entire community!
