UNAITAS Sacco to pump shs 1.5B to promote economic activities in Nyanza.

Former Prime Minister Raila Odinga address the public during the opening of UNAITAS Sacco Ksm Branch office today. The Sacco will pump in sh1.5 billion to help in boosting economic activities in the counties falling Lake Region Economic Block in Nyanza region-photo By Dickson Odhiambo.

 By Dickson Odhiambo.

September 24, 2018.

UNAITAS Sacco to pump shs 1.5B to promote economic activities in Nyanza. 

THE UNAITAS Savings and Credit Cooperative Society will pump in sh1.5 billion to help in boosting economic activities in the counties falling Lake Region Economic Block in Nyanza region.

This move is aimed at transforming financial needs of the local residents within those counties

Speaking during the official opening of Unaitas branch in Kisumu today presided over by Hon Raila Odinga, Unaitas chairman Joseph Kabugu announced that the funds will be channeled towards financing value chain agriculture in the horticulture and in specific avocado farming.

“Unaitas will be committed to extend funding to Agriculture farming with specific focus to Avocado farming which will form the bulk of funding to the extent of a seed capital of KES1.5 billion, this will involve on lending to farmers, training on intensive farming, extension services and upscaling marketing opportunities and more importantly knowledge sharing through peer to peer exchange programs and practical trainings”,Kabugu says.

The lender also has announced that an additional 500 Million will be pumped to the fishing industry to fund fishermen through partnerships with the local beach management units around Lake Victoria.

Kabugu adds that Unaitas will give special attention to empower the Beach Management Units (BMUs) and utilize their structures to access affordable credit to fund acquisition of cooling plants.

He says through the BMUs, Unaitas will be able to advance small instant loans through their mobile phone platform Mo cash.

In the spirit of promoting manufacturing, Unaitas will replicate the concept of developing small factories to manufacture fish feeds, promoting commercial fish breeding through cage fish farming. 

The fishermen will be taken through a financial literacy programme that will enable them acquire skills to optimize the funding received, Unaitas is setting a kitty of KES1 billion towards this initiative.

“Through our Corporate Social Investments (CSI), Unaitas commits to return back to the community 2% of the region’s Revenue collection to fund Agroforestry initiatives in the region to enhance the forest cover,”Kabugu adds.

The chairman says Unaitas will in addition provide an integrated customer focused approach by creating strong customer relationship with its members.

 “We commit to build trust through understanding the specific needs of our members in the Lake region, Western and its environs so that we can tailor financial products that are aligned to their dreams and aspirations,” he further says.

The chairman notes that Unaitas, as a co-operative movement, operates within the confines of the co-operative principle of democratic representation, where upon meeting the required member’s threshold, automatic representation of the locals in top leadership positions will be accorded. This will also see the opening up of employment opportunities of the locals in the region.

Meanwhile, the Sacco has today celebrated 25 years since its inception in 1993 in Kenya.

The sacco has also opened up a new branch in Kisumu County which will be its 25^th branch countrywide.

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