Sh20m to upgrade matatus to 21 seaters

May 9, 2011
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, NAIROBI, Kenya, May 9 – Cooperative Bank has financed Chania Travellers Sacco, one of the leading public service vehicles operators\’ Saccos on the Thika – Nairobi route, with a Sh20 million facility towards the purchase of 21-seater buses.

The Bank is currently offering the special PSV financing scheme in partnership with CIC Insurance and General Motors East Africa.

Speaking at the flag off of the new bus fleet, Catherine Munyiri, the Director of Cooperatives Banking at Co-op Bank said; "We are delighted to support one of the most well-known PSV Saccos in Kenya to achieve a rapid upgrading of their fleet. We are glad to note that this upgrade will help them to not only conform to new PSV transport regulations, but most importantly boost comfort and service quality to commuters."

Since January this year, the government has been phasing out 14-seater matatus in preference of bigger 21-seater buses. No 14-seater vans are getting licensed in Kenya as PSVs anymore.

"We wish to encourage all PSV Saccos to talk to us to get help in upgrading from 14-seater matatus to higher-capacity buses," added Mrs Munyiri. 

On his part, Joseph Mbugua, the Chairman of Chania Sacco said; "We would like to thank Co-op Bank for working with us together with CIC Insurance and General Motors to help us become one of the very first matatu Saccos to upgrade from 14-seater matatus and buy 21-seater buses. Today we have launched the first five out of the 20 buses we plan to buy this year."

Chania Travellers Sacco has over 100 members who own PSV vehicles that operate on the Thika-Nairobi route.

In appreciation of the great support enjoyed from its customers and to celebrate the upgrade of its fleet, Chania Sacco offered a free return trip to and from Nairobi to commuters.

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