Unaitas Celebrates Silver Jubilee at the Kisumu Branch Launch
Unaitas - You and Me
It’s 25 years since Unaitas, formerly known as Muranga Muramati Tea Sacco opened it’s doors to a saving community.
Now Unaitas Sacoo Society LTD, it has grown to a tremendous number of at least 360,000 members, now 25 branches, and over 400 agents nationwide.
In this 25th birthday or Silver Jubilee celebration, Unaitas officially opens its 25th branch, Kisumu branch, a ceremony graced by H.E. Rt Honorable Prime Minister, Raila Odinga.
The ceremony held at the Grand Royal Swiss Hotel, brought together representatives of the varied sectors of the local community.
Prime Minister Raila Odinga, reiterated the need for the local community to adopt a saving culture, as this is the only way that will help the people rid themselves of the vicious poverty cycle.
He also emphasized that it’s the Luo community that first entrenched a cooperative culture through the Luo Thrift and Trading Company, despite the opposition from the then government.
By opening it’s doors in Kisumu, Unaitas is promising an array of products that targets farmers, business community and all public servants who will be able to access salary loans at affordable rates.
To stress it’s financial strength, Unaitas posted 65% growth in comprehensive income from KShs 244 million in 2016 to KShs 403.7 million in the financial year ended December 2017. The profits grew 27% to KShs 338 million. Since it’s inception, the society has never posted a loss. Alongside this solid performance, the board of directors proposed a dividend of 9% on investment shares, which was an increase from the 7% that was paid in the previous financial year.
According to Unaitas chairman Joseph Ngaai Kabugu, plans to transform Unaitas into a commercial bank and listing its shares at the Nairobi Stock Exchange are on course and this will translate into more benefits for members.
The Unaitas Kisumu branch is located at Unaitas Plaza opposite Kibuye Market along the Kisumu Kakamega Highway. This branch is strategically located to serve Nyanza and the Western regions.
Unaitas – You and Me.