Press Release: Over 10,000 Boda Boda Riders to benefit from quality layered reusable Masks donated by Faulu Microfinance Bank.

29th May 2020

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Leading microfinance bank, Faulu, through UAP Old Mutual Faulu Foundation, will distribute over 10,000 Masks to its Boda Boda Customers countrywide in a bid to contain the spread of COVID -19.

The Foundation through Faulu is cagnisant of the risk that Boda Boda riders face due to their continuous interaction with people throughout the day as they ferry customers and deliver goods. The risk is heightened by the increase in online shopping from Stay-Home and Work-from-Home initiatives. The riders also pose a high risk of spreading Covid-19 from one client to another if asymptomatic hence the need to acquire good quality masks.

This initiative seeks to facilitate protecting the riders from contracting Covid -19 as well as reducing the risk of the spread of COVID-19.

Faulu will also distribute Masks to its Agents, Security Personnel and Support staff countrywide to ensure their safety as they interact with customers.

Faulu has previously funded over 2000 Boda Boda accounts through various partnerships with Car and General and Bajaj. Under these partnerships, Faulu customers mainly organized in SACCOs have been benefiting from an innovative solution that includes affordable financing, insurance and the installation of tracking or anti-theft devices on their motorcycles.

The Faulu Masks project is an addition to the UAP Old Mutual Faulu Foundation initiative that earlier supported 434 workers across the UAP Old Mutual Group a drive to complement the National Initiatives done towards management of COVID-19 pandemic.

Faulu has continued to partner with the staff to support vulnerable groups such as; Persons with Disability and the elderly with basic needs during this pandemic period.

“Further to the donation of masks, the bank has put in place measures to protect customers and continues to evaluate the working environment of all staff to ensure their safety as they carry out their duties,” said Apollo Njoroge, Managing Director, Faulu Microfinance Bank during the launch of the initiative at Faulu Head Quarters.

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UAP Old Mutual Foundation delivers sustainable social responsibility initiatives for the UAP Old Mutual Group, comprising Faulu Microfinance Bank with a focus on Healthcare, Environmental conservation and Financial Wellbeing. Over the years, the Foundation has resulted in significant strides, notably;

  1. Infrastructural projects to support Kenyatta National Hospital, Uasin Gishu County Hospital and Mama Lucy Kibaki Hospital.
  2. Hosting medical camps through partnerships with County Hospitals and Non-Profit Organisations. Over 5,000 people have been screened in Uasin Gishu, Nakuru, Meru, Voi and Bungoma counties
  3. Protecting the water towers across Kenya through tree planting initiatives in Ndakaini, Aberdare National Park and Kereita Forest. Through the Foundation, we have planted 70,000 tree seedlings in the last 5 years.
  4. We support financial wellbeing programmes intended to strengthen access to financial services, entrepreneurship and enterprise development activities in the communities we operate.
Fund Prices
Old Mutual Money Market Fund Daily Yield : 4.93%  Annual Rate: 5.04%
Old Mutual Equity Fund Buying Price: 333.53  Selling Price: 333.53
Old Mutual Balanced Fund/Toboa Buying Price: 147.12  Selling Price: 147.12
Old Mutual Bond Fund Buying Price: 102.30  Selling Price: 102.30
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Fund Prices

Fund Prices at 21st October 2020

Fund Name Currency Daily Yield Effective Annual Rate
Old Mutual Money Market Fund Kenya Shillings 4.93% 5.04%
Fund Name Currency Buying Price Selling Price
Old Mutual Equity Fund Kenya Shilling 333.53 333.53
Old Mutual Balanced Fund/Toboa Kenya Shillings 147.12 147.12
Old Mutual Bond Fund Kenya Shillings 102.30 102.30
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