Monday, Mar 02nd 2015

Muramati renamed, set to roll out countrywide

Thursday, July 12, 2012 - 00:00 -- BY SOLOMON KIRIMI

Muramati Savings and Credit Co-operatives yesterday changed its identity to Unaitas as part of its re-branding in readiness for  countrywide expansion and planned listing at the Nairobi Securities Exchange.  The 19 year old SACCO had its operations concentrated in Central province with its base in Murang'a town. Outside the central region, Muramati has outlets in Nairobi and Kajiado having grown from a membership of less than 4,000 to  more than 140,000 and an asset base in excess of Sh2.8 billion by 2011.

The SACCO Chief executive Tony Mwangi said their objectives include listing at the Nairobi Securities Exchange and spreading their operations to as many African countries as possible. He said they have invested Sh200 million in land around the Konza ICT city with the hope reaping maximum benefits when the city is fully developed. He said they are also drafting their own credit reference books to informally share with banks before a framework to include SACCOs and microfinance institutions in the credit referencing scope is formulated.