NTUNGAMO BODA BODA CYCLISTS RECEIVE 300M POST BANK LOAN

By Allan Mugabe
www.mknewslink.com
In Ntungamo
Boda boda cyclists in Ntungamo Municipality under their umbrella organizations Ntungamo boda boda movement association have received a 5 year loan worth Ug shs 300M from Post bank.
The loan received was in form of new motorcycles got on negotiated interest to improve the boda boda industry.
Handing over 14 motorcycles acquired, on Friday, the association Chairperson Mr Alex Kasaja said the loan shall help the many cyclists riding other peoples motorcycles acquire their own.
He noted that this will reduce their pressure from daily remittances and focus on personal development when they are done with loans repayment.
The beneficiaries noted that organising themselves in a group has aided them achieve more because individual cyclists have always been denied loans from credible banks.
The association was founded by motorcyclists with aid from Ntungamo businessmen Edward Beyendeza Bekunda , Benard Sabiti and Civil aviation authority deputy executive director Fred Bamwesigye who organized the cyclists into an association.
Recently, president Museveni pledged Shs 20M to the association but has not been delivered to them yet.
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