MARIDADY MOTORS SACCO
In 2018, Maridady Motors Sacco, a brainchild of Sir Eric Mwangi, CEO of a Kenyan-based car Dealership, Maridady, was born to revolutionize car ownership in Kenya. This innovative venture emerged from a desire to aid clients who struggled with the stringent demands of mainstream financing. Understanding the plight of many Kenyans barred from car ownership by rigorous formal lending criteria, Maridady Motors Sacco sought to make this dream accessible to the everyday citizen.
Focusing on assets like personal and commercial vehicles, the Sacco opens its doors to a diverse group including taxi drivers, boda boda riders, mechanics, and car-wash operators. To be part of this transformative journey, a one-time, non-refundable membership fee of Ksh 5,000 is all it takes. Members have the freedom to save at their pace for their dream car, without any monthly contribution constraints.
The goal is simple: save 50% of your car's value and the Sacco will cover the rest, with an easy payback period of up to 24 months at a minimal interest rate. For those who save 50%, there's no need for guarantors. And for members who can muster 30%, guarantors from within our Sacco family will be required. This initiative is not just about owning a car; it's about driving dreams into reality, one Kenyan at a time.
By Churchil | 15 Nov 2023