The Mountain Journal
In a move to reach out more cooperative movement members, Unaitas Sacco made a galant entry in Nyeri County after it opened its branch in Othaya town.
The 29th branch was officially opened by Nyeri Governor Mutahi Kahiga who celebrated the milestone made by the players in the cooperative movement over the years.
The Governor congratulated the management of Unaitas Sacco for opening a branch in Nyeri county, following the growth registered over the years through the dedication of the local community.
Mutahi said Nyeri being the home of the late freedom fighter Dedan Kimathi, the late Prof Wangari Maathai, the first Central Bank of Kenya Governor Phillip Ndegwa among other notable persons welcomes the sacco and is ready to promote it.
“ In Nyeri, the county government spends more than Sh4 million to train the cooperative movement leaders on effective governance and regulations. The annual trainings are designed to give the members the best leadership,” said Mutahi.
He disclosed that Nyeri county government has been ranked the best in paying off the pending bills, thus creating a conducive environment for business people.
During the ceremony, the Unaitas Sacco CEO Mr Martin Muhoho said the organisation has a asset base of Sh23 billion, which is projected to grow to Sh30 billion in the next three years, while the loan book is expected to grow to Sh22 billion by the year 2026 from the current Sh18 billion.
“ The sacco has been in existence for the past 30 years and seeks to increase our deposits to Sh25 billion up from the present Sh12 billion in the next three years,” said Muhoho.
The sacco Chairman Michael Muriithi on his part said 30 years ago 4,000 tea growers mobilized their resources and registered Murang’a tea sacco, which they continued nurturing through thick and thin.
The sacco was founded when the then big banks were discriminating against those who could afford to open accounts and deposit amounts ranging between Sh20,000 and Sh40,000.
“ In the last two years, Unaitas Sacco has registered a profit of two billion shillings,” said Muriithi.
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