Bernard Gitau and Mercy Gacheche @PeopleDailyKe
Public Service Vehicles (PSV) operators are planning to launch a bank to enhance their financial muscle.
Association of Matatu Operators in Nairobi CBD chair Jamal Ibrahim said the sector collects more than Sh900 million a day across the country, which could be managed in a bank owned by the sector.
“The sector has the potential to consolidate resources and maybe launch a bank that will help address financial needs of members,” he said.
For the plan to succeed, Jamal said the public transport sector must embrace technology to ease cash flow and eradicate cartels.
He spoke at the launch of Epesi Trip Planner by Data Integrated, a Kenyan fintech company.