Peter Mulinge, a husband and a father of three, recounts with pride his journey from a struggling sugarcane vendor to a thriving fruit stall owner. His transformation became possible after securing a business loan from Chai Sacco, a financial cooperative that has significantly impacted his life and business.
Mulinge’s story begins with a vision shared with his wife, a trained salonist. The couple decided to join Chai Sacco and start saving small amounts of money. They were motivated by the possibility of securing a loan to transform their lives.
“I signed for my first loan of Ksh. 250,000, which I got immediately from the Sacco,” Mulinge recalls. “I used some of the money to increase and diversify my business. Now, I sell more fruit varieties than before.”
As Mulinge tends to his customers at his well-stocked stall, it’s clear that his investment has paid off. His stall, vibrant with bananas, oranges, pineapples, and melons, attracts a steady stream of customers who enjoy buying from him.
In his late thirties, Mulinge credits his wife for the idea of joining a Sacco. She had been educated about the benefits by her peers and suggested they join. He quickly supported the idea, registered as a member and started saving whatever little he could manage.
“There is no fixed amount required for one to save,” he explains. The Sacco’s flexible approach to savings and loan repayment is tailored to people with modest incomes like Mulinge.
Chai Sacco offers a manageable loan repayment plan, allowing Mulinge to repay his loan over two years with daily installments as low as Ksh. 300. The convenience of mobile money transfers for loan processing and repayment eliminates the need for frequent trips to the physical office.
Reflecting on his economic status before and after becoming an active member of Chai Sacco, Mulinge notes a significant improvement. “My life has changed 360 degrees. I am now better off than where I was a few years before,” he joyfully admits.
The increased stock and variety of fruits have boosted his profits, allowing him to support his young family, repay the loan, make monthly savings, and pay rent. Despite the unpredictable economic dynamics, Mulinge feels more secure and optimistic about his future.
His journey to success was not without challenges. Born in Ukambani, he started out laboring in various hustles. Realizing his economic future was at stake, he decided to start his own business. He began with a small investment of Ksh. 1,000 in sugarcane stalks, selling them from a wheelbarrow on the streets.
“I used to move from point to point in the streets, pushing a small wheelbarrow with sugarcane, selling to customers. But I had a great desire to establish a kibanda (kiosk) from where I could operate,” he says.
Street vending was risky, and Mulinge narrowly escaped attacks from thugs. Aware of the dangers, he decided to set up a fruit stall in 2022.
“I used to sell sugarcane in the streets when I came to town in 2014. I made an average profit of Ksh. 150 daily, which was fine and could sustain my daily needs back then. However, things changed when I became a father,” he reflects on his past life in the city.
The sugarcane business was insufficient to support his growing family. With his wife’s assistance, Mulinge expanded into selling fruits, aiming for greater stability and growth. Looking ahead, he plans to rent a more secure and permanent business space.
He envisions buying and selling stock in large quantities and eventually opening branches in different areas of the city. His long-term goal is to secure his family’s future. He has already partially paid for a parcel of land and plans to build a family home. This move will eliminate the stress of paying rent and provide a stable environment for his family.
Mulinge credits Chai Sacco for being the gateway to his economic prosperity. “Belonging to Chai Sacco has changed my life. I will soon be living in my own house, free from the menace and stress of paying rent,” he concludes with a smile.
His journey from a struggling street vendor to a successful fruit stall owner is a testament to the power of determination, support, and smart financial planning. Moreover, Mulinge’s story speaks volumes of the positive impact which the cooperative movement in Kenya has had over the years on the lives of many people in the society.
