Unaitas Sacco has opened its 29th branch in Othaya, Nyeri with the local Governor Mutahi Kahiga celebrating the milestone made by the players in the cooperative movement.
The Governor lauded the move by the management of Unaitas Sacco to open a branch in Nyeri county, following the growth registered over the years following the dedication of the local community.
Mutahi said Nyeri being the home of the late 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 Sh4 million to train the cooperative movement leadership on effective governance and regulations,” 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 opening of the branch, the 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.